Netskope (NASDAQ:NTSK) Hits New 52-Week Low – What’s Next?

Netskope Inc. (NASDAQ:NTSK) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.79 and last traded at $9.98, with a volume of 563913 shares trading hands. The stock had previously closed at $10.53.

Analyst Ratings Changes

A number of analysts have recently weighed in on NTSK shares. KeyCorp lowered their price target on shares of Netskope from $24.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada reissued an “outperform” rating on shares of Netskope in a research report on Wednesday, February 11th. Piper Sandler reaffirmed an “overweight” rating on shares of Netskope in a report on Friday, December 12th. Robert W. Baird initiated coverage on Netskope in a research report on Monday, October 27th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $26.00 price objective on shares of Netskope in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given 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 has an average rating of “Moderate Buy” and a consensus target price of $25.88.

Netskope Price Performance

The company has a market capitalization of $3.72 billion and a PE ratio of -94.70. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. The company’s fifty day simple moving average is $15.50.

Netskope (NASDAQ:NTSK) last issued its quarterly earnings results on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, topping 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 firm’s quarterly revenue was up 33.0% on a year-over-year basis.

Insiders Place Their Bets

In other news, CFO Matto Andrew H. Del sold 77,207 shares of the stock in a transaction 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 sale, the chief financial officer owned 41,493 shares in the company, valued at $702,061.56. This represents a 65.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Beri sold 346,061 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $16.91, for a total transaction of $5,851,891.51. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Hedge Funds Weigh In On Netskope

A number of institutional investors have recently modified their holdings of NTSK. New York Life Insurance Co. purchased a new stake in shares of Netskope in the third quarter valued at approximately $31,236,000. Federated Hermes Inc. acquired a new stake in Netskope in the 3rd quarter valued at $18,184,000. Massachusetts Financial Services Co. MA purchased a new stake in Netskope in the 3rd quarter worth $72,463,000. Principal Financial Group Inc. acquired a new position in Netskope during the third quarter worth $27,239,000. Finally, TimesSquare Capital Management LLC purchased a new position in Netskope during the third quarter valued at $61,833,000.

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.