Mizuho Issues Pessimistic Forecast for Netskope (NASDAQ:NTSK) Stock Price

Netskope (NASDAQ:NTSK) had its price objective reduced by equities researchers at Mizuho from $26.00 to $20.00 in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 73.46% from the company’s current price.

NTSK has been the topic of a number of other research reports. KeyCorp dropped their target price on Netskope from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Zacks Research upgraded shares of Netskope to a “hold” rating in a report on Monday, October 20th. Robert W. Baird began coverage on shares of Netskope in a research report on Monday, October 27th. They issued an “outperform” rating and a $27.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $26.00 target price on shares of Netskope in a research report on Friday, December 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.88.

Netskope Stock Up 1.9%

Shares of NTSK stock opened at $11.53 on Tuesday. Netskope has a 12-month low of $10.96 and a 12-month high of $27.99. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32. The stock’s fifty day moving average is $15.94. The company has a market capitalization of $4.53 billion and a P/E ratio of -115.30.

Netskope (NASDAQ:NTSK) last announced its earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.15. The company had revenue of $184.17 million during the quarter, compared to analyst estimates of $175.81 million. The firm’s revenue was up 33.0% on a year-over-year basis.

Insider Buying and Selling at Netskope

In other news, CRO Raphael Bousquet sold 3,823 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $16.66, for a total transaction of $63,691.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matto Andrew H. Del sold 49,875 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $17.16, for a total value of $855,855.00. Following the transaction, the chief financial officer owned 41,493 shares in the company, valued at approximately $712,019.88. This trade represents a 54.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,049,721 shares of company stock valued at $18,020,279 in the last quarter.

Hedge Funds Weigh In On Netskope

Hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new stake in Netskope in the 4th quarter valued at about $25,000. Quarry LP bought a new position in shares of Netskope in the third quarter worth $41,000. Triumph Capital Management increased its holdings in Netskope by 380.0% in the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock valued at $42,000 after buying an additional 1,900 shares during the period. Wells Fargo & Company MN raised its position in Netskope by 261.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock valued at $63,000 after purchasing an additional 2,617 shares in the last quarter. Finally, Assetmark Inc. acquired a new stake in shares of Netskope in the 3rd quarter valued at $83,000.

About Netskope

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.