BTIG Research Lowers Netskope (NASDAQ:NTSK) Price Target to $22.00

Netskope (NASDAQ:NTSK) had its price target decreased by BTIG Research from $27.00 to $22.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 114.63% from the company’s current price.

NTSK has been the topic of a number of other research reports. TD Cowen lowered their target price on Netskope from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Netskope in a research report on Wednesday, February 11th. Mizuho dropped their target price on Netskope from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Piper Sandler reaffirmed an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $26.00 price objective on shares of Netskope in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.47.

Netskope Stock Performance

NASDAQ NTSK opened at $10.25 on Monday. The firm has a market cap of $4.03 billion and a PE ratio of -102.50. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 5.17. The business’s 50-day moving average is $14.28. Netskope has a 52-week low of $9.13 and a 52-week high of $27.99.

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

Insider Buying and Selling

In other Netskope news, CEO Sanjay Beri sold 346,061 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $16.91, for a total transaction of $5,851,891.51. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matto Andrew H. Del sold 77,207 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $16.92, for a total transaction of $1,306,342.44. Following the completion of the transaction, the chief financial officer owned 41,493 shares of the company’s stock, valued at $702,061.56. The trade was a 65.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,049,721 shares of company stock worth $18,020,279.

Institutional Trading of Netskope

Large investors have recently made changes to their positions in the company. ICONIQ Capital LLC acquired a new position in Netskope during the third quarter valued at approximately $1,506,261,000. Scge Management L.P. bought a new position in shares of Netskope in the 3rd quarter valued at $312,104,000. Vanguard Group Inc. acquired a new position in shares of Netskope during the 3rd quarter worth $80,006,000. Public Sector Pension Investment Board bought a new stake in shares of Netskope during the 4th quarter worth $60,882,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Netskope in the third quarter valued at about $72,463,000.

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.