Wells Fargo & Company Begins Coverage on Netskope (NASDAQ:NTSK)

Stock analysts at Wells Fargo & Company initiated coverage on shares of Netskope (NASDAQ:NTSK) in a research report issued to clients and investors on Tuesday. The firm set an “overweight” rating and a $13.00 price target on the stock. Wells Fargo & Company‘s price target points to a potential upside of 24.28% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. KeyCorp dropped their price target on shares of Netskope from $24.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. FBN Securities began coverage on shares of Netskope in a research note on Wednesday, February 25th. They set an “outperform” rating and a $15.00 price objective on the stock. Mizuho lowered their price target on Netskope from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Finally, BTIG Research cut their target price on shares of Netskope from $27.00 to $22.00 and set a “buy” rating on the stock in a report on Monday. One investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.47.

Netskope Trading Down 3.1%

NASDAQ NTSK opened at $10.46 on Tuesday. The stock’s 50-day simple moving average is $14.45. 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 has a twelve month low of $9.13 and a twelve month high of $27.99. The stock has a market capitalization of $4.11 billion and a P/E ratio of -104.60.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings data on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The company 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.

Insider Transactions at Netskope

In other news, CFO Matto Andrew H. Del sold 49,875 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total value of $855,855.00. Following the completion of the transaction, the chief financial officer directly owned 41,493 shares in the company, valued at $712,019.88. This trade represents a 54.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Raphael Bousquet sold 3,823 shares of the firm’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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Institutional Trading of Netskope

Several institutional investors have recently modified their holdings of NTSK. Chicago Capital LLC acquired a new position in Netskope during the third quarter worth about $2,056,000. Massachusetts Financial Services Co. MA bought a new position in shares of Netskope during the 3rd quarter valued at about $72,463,000. Federated Hermes Inc. acquired a new position in shares of Netskope in the 3rd quarter worth approximately $18,184,000. New York State Common Retirement Fund bought a new stake in shares of Netskope in the 3rd quarter worth approximately $943,000. Finally, Principal Financial Group Inc. bought a new stake in Netskope during the third quarter worth approximately $27,239,000.

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.