TD Cowen Cuts Netskope (NASDAQ:NTSK) Price Target to $25.00

by · The Markets Daily

Netskope (NASDAQ:NTSK – Free Report) had its price objective lowered by TD Cowen from $30.00 to $25.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Netskope in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $26.00 target price on shares of Netskope in a report on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Robert W. Baird began coverage on Netskope in a research report on Monday, October 27th. They set an “outperform” rating and a $27.00 price objective on the stock. Finally, Piper Sandler reiterated an “overweight” rating on shares of Netskope in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.94.

View Our Latest Stock Report on Netskope

Netskope Price Performance

NTSK stock opened at $11.53 on Tuesday. Netskope has a 1-year low of $9.13 and a 1-year high of $27.99. The company has a 50-day moving average price of $14.80. The company has a market capitalization of $4.53 billion and a P/E ratio of -115.30. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32.

Netskope (NASDAQ:NTSK – Get Free Report) last posted its earnings results on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The business had revenue of $184.17 million for the quarter, compared to analysts’ expectations of $175.81 million. Netskope’s revenue for the quarter was up 33.0% on a year-over-year basis.

Insider Activity at Netskope

In related news, CFO Matto Andrew H. Del sold 77,207 shares of Netskope stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $16.92, for a total value of $1,306,342.44. Following the completion of the sale, the chief financial officer directly owned 41,493 shares in the company, valued at $702,061.56. This trade represents a 65.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Raphael Bousquet sold 3,823 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $16.66, for a total transaction of $63,691.18. The disclosure for this sale is available in the SEC filing. Insiders sold 1,049,721 shares of company stock valued at $18,020,279 in the last three months.

Institutional Inflows and Outflows

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

About Netskope

(Get Free Report)

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.

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