Netskope (NASDAQ:NTSK) Shares Gap Down – Here’s What Happened

Netskope Inc. (NASDAQ:NTSK)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $15.81, but opened at $15.04. Netskope shares last traded at $14.9610, with a volume of 452,989 shares trading hands.

Analysts Set New Price Targets

NTSK has been the topic of several recent research reports. BTIG Research cut their price target on Netskope from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, June 4th. Royal Bank Of Canada upped their price objective on Netskope from $13.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday. Oppenheimer dropped their target price on Netskope from $19.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Piper Sandler cut their target price on Netskope from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Finally, TD Cowen reissued a “buy” rating and set a $19.00 price target on shares of Netskope in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Netskope presently has an average rating of “Moderate Buy” and an average target price of $17.47.

Netskope Trading Down 3.4%

The firm has a 50-day moving average of $11.84 and a 200 day moving average of $11.16. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 4.06. The stock has a market capitalization of $6.17 billion and a price-to-earnings ratio of -76.35.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $201.59 million for the quarter. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. As a group, equities analysts predict that Netskope Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity at Netskope

In related news, Director William J.G. Griffith acquired 64,771 shares of Netskope stock in a transaction that occurred on Monday, July 13th. The stock was acquired at an average price of $12.42 per share, with a total value of $804,455.82. Following the completion of the acquisition, the director directly owned 916,690 shares of the company’s stock, valued at $11,385,289.80. This trade represents a 7.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lightspeed Venture Partners Se sold 219,075 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $12.23, for a total transaction of $2,679,287.25. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have acquired 1,833,380 shares of company stock valued at $21,960,909 and have sold 3,529,696 shares valued at $33,002,807. 25.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTSK. New York Life Insurance Co. bought a new position in shares of Netskope in the second quarter valued at approximately $11,325,580,000. Abound Wealth Management bought a new stake in Netskope during the second quarter worth approximately $496,000. Wasatch Advisors LP acquired a new stake in Netskope in the second quarter worth approximately $25,107,000. Camelot Technology Advisors Inc. acquired a new stake in Netskope in the second quarter worth approximately $193,000. Finally, FNY Investment Advisers LLC boosted its stake in Netskope by 88.9% during the 2nd quarter. FNY Investment Advisers LLC now owns 8,500 shares of the company’s stock valued at $92,000 after purchasing an additional 4,000 shares in the last quarter.

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.