KeyCorp Has Lowered Expectations for Netskope (NASDAQ:NTSK) Stock Price

Netskope (NASDAQ:NTSK) had its target price reduced by KeyCorp from $24.00 to $17.00 in a research note issued on Tuesday, MarketBeat reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 47.44% from the company’s current price.

Other equities analysts have also issued research reports about the company. Mizuho cut their price target on Netskope from $26.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday. Piper Sandler reissued an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of Netskope in a report on Wednesday, February 11th. Finally, Robert W. Baird began coverage on shares of Netskope in a research note on Monday, October 27th. They issued an “outperform” rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.88.

Netskope Price Performance

NTSK stock opened at $11.53 on Tuesday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. Netskope has a 1-year low of $10.96 and a 1-year high of $27.99. The business has a 50 day simple moving average of $15.94. The company has a market cap of $4.53 billion and a P/E ratio of -115.30.

Netskope (NASDAQ:NTSK) last released its earnings results on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.15. The company had revenue of $184.17 million during the quarter, compared to analysts’ expectations of $175.81 million. Netskope’s revenue was up 33.0% compared to the same quarter last year.

Insider Buying and Selling

In other Netskope news, CFO Matto Andrew H. Del sold 49,875 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total transaction of $855,855.00. Following the transaction, the chief financial officer directly owned 41,493 shares of the company’s stock, valued at $712,019.88. This trade represents a 54.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Beri sold 31,594 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $17.58, for a total transaction of $555,422.52. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Hedge Funds Weigh In On Netskope

A number of hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its stake in Netskope by 32.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 5,164 shares of the company’s stock valued at $91,000 after purchasing an additional 1,270 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of Netskope during the fourth quarter worth $25,000. Quarry LP acquired a new stake in shares of Netskope in the third quarter valued at about $41,000. Triumph Capital Management lifted its stake in shares of Netskope by 380.0% in the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after buying an additional 1,900 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Netskope by 60.5% during the fourth quarter. Assetmark Inc. now owns 5,879 shares of the company’s stock worth $103,000 after acquiring an additional 2,216 shares during the last quarter.

Netskope Company Profile

We are redefining security and networking for the era of cloud and AI. The cloud and AI have completely revolutionized work. We are more dispersed, more productive, and more automated than ever before, and the rate of change is only accelerating. Not since the internet has there been such a transformative tectonic shift. But, with it has come collateral damage-traditional security and networking are now broken. We founded Netskope to address this revolution. We built Netskope One, our unified, cloud-native platform from the ground up to solve the challenge of securing and accelerating the digital interactions of enterprises in this new era.