Netskope (NASDAQ:NTSK) Hits New 52-Week Low – Should You Sell?
by Mitch Edgeman · The Markets DailyNetskope Inc. (NASDAQ:NTSK – Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $11.30 and last traded at $11.33, with a volume of 758198 shares changing hands. The stock had previously closed at $12.22.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. KeyCorp lowered their target price on Netskope from $28.00 to $24.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $26.00 price target on shares of Netskope in a report on Friday, December 12th. Mizuho boosted their price objective on Netskope from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Netskope to a “hold” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Netskope currently has an average rating of “Moderate Buy” and an average target price of $26.71.
Check Out Our Latest Research Report on Netskope
Netskope Trading Up 3.5%
The business has a fifty day moving average price of $16.60. 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 (NASDAQ:NTSK – Get Free Report) last issued its quarterly earnings data on Thursday, December 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The firm had revenue of $184.17 million for the quarter, compared to analyst estimates of $175.81 million. The business’s quarterly revenue was up 33.0% compared to the same quarter last year.
Insiders Place Their Bets
In other Netskope news, CRO Raphael Bousquet sold 3,823 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $16.66, for a total value of $63,691.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matto Andrew H. Del sold 77,207 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $16.92, for a total value of $1,306,342.44. Following the sale, the chief financial officer directly owned 41,493 shares of the company’s stock, valued at approximately $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 ninety days, insiders have sold 1,049,721 shares of company stock worth $18,020,279.
Institutional Trading of Netskope
Several hedge funds and other institutional investors have recently modified their holdings of NTSK. Farther Finance Advisors LLC acquired a new stake in Netskope in the 4th quarter valued at approximately $25,000. Quarry LP acquired a new position in Netskope during the 3rd quarter worth approximately $41,000. Triumph Capital Management grew its stake in shares of Netskope by 380.0% during the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after acquiring an additional 1,900 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Netskope by 261.7% in 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 during the last quarter. Finally, Assetmark Inc. bought a new stake in shares of Netskope in the third quarter worth $83,000.
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.