Mizuho Lowers Netskope (NASDAQ:NTSK) Price Target to $20.00

Netskope (NASDAQ:NTSK) had its price target cut by equities research analysts at Mizuho from $26.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 68.21% from the stock’s previous close.

Several other analysts also recently commented on the company. KeyCorp dropped their price objective on Netskope from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. Piper Sandler reiterated an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Royal Bank Of Canada restated an “outperform” rating on shares of Netskope in a report on Wednesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $26.00 price objective on shares of Netskope in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.94.

Netskope Stock Up 3.5%

NTSK stock opened at $11.89 on Tuesday. Netskope has a twelve month low of $11.28 and a twelve month high of $27.99. The company has a debt-to-equity ratio of 5.17, a quick ratio of 2.32 and a current ratio of 2.32. The firm has a market cap of $4.68 billion and a P/E ratio of -118.90. The company has a fifty day moving average of $16.39.

Netskope (NASDAQ:NTSK) last released its 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 analyst estimates of $175.81 million. Netskope’s revenue for the quarter was up 33.0% compared to the same quarter last year.

Insider Buying and Selling at Netskope

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

Hedge Funds Weigh In On Netskope

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTSK. Farther Finance Advisors LLC bought a new stake in Netskope during the fourth quarter valued at $25,000. Quarry LP bought a new stake in Netskope in the 3rd quarter worth about $41,000. Triumph Capital Management increased its position in shares of Netskope by 380.0% during the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock valued at $42,000 after acquiring an additional 1,900 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Netskope by 261.7% during the 4th quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock worth $63,000 after purchasing an additional 2,617 shares during the period. Finally, Leonteq Securities AG bought a new position in shares of Netskope during the 4th quarter valued at approximately $64,000.

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.