Netskope (NASDAQ:NTSK) Reaches New 1-Year High After Analyst Upgrade

Netskope Inc. (NASDAQ:NTSK)’s stock price reached a new 52-week high during mid-day trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $25.00 and last traded at $25.1960, with a volume of 779,993 shares. The stock had previously closed at $24.28.

A number of other research firms have also weighed in on NTSK. Weiss Ratings reiterated a “sell (e+)” rating on shares of Netskope in a research report on Friday, October 2nd. TD Cowen reiterated a “buy” rating and set a $19.00 price target on shares of Netskope in a research note on Monday, August 17th. KeyCorp raised their price target on Netskope from $16.00 to $17.50 and gave the company an “overweight” rating in a report on Friday, August 21st. Royal Bank Of Canada upped their target price on shares of Netskope from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. raised their price target on Netskope from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Netskope has an average rating of “Moderate Buy” and a consensus price target of $18.75.

Insider Activity at Netskope

In other news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $14.90, for a total value of $158,252.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On Netskope

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in shares of Netskope by 31.4% in the first quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company’s stock valued at $21,628,000 after buying an additional 608,355 shares during the period. Wasatch Advisors LP acquired a new stake in Netskope during the second quarter valued at approximately $25,107,000. Weiss Asset Management LP bought a new stake in Netskope during the first quarter worth approximately $8,957,000. New York Life Insurance Co. bought a new stake in Netskope during the second quarter worth approximately $11,325,580. Finally, Stephens Investment Management Group LLC grew its position in Netskope by 117.5% in the first quarter. Stephens Investment Management Group LLC now owns 977,786 shares of the company’s stock worth $8,301,000 after buying an additional 528,164 shares during the last quarter.

Netskope Price Performance

The company has a fifty day simple moving average of $17.70 and a 200-day simple moving average of $13.10. The company has a market cap of $10.68 billion and a P/E ratio of -10.25.

Netskope (NASDAQ:NTSK) last announced its earnings results on Wednesday, September 2nd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.23. The company had revenue of $220.54 million for the quarter. Netskope has set its FY 2027 guidance at -0.150–0.150 EPS and its Q3 2027 guidance at -0.040–0.030 EPS. On average, analysts anticipate that Netskope Inc. will post -0.82 EPS for the current year.

About Netskope

Netskope, Inc is a cybersecurity company that provides cloud-based security and networking solutions for organizations operating in cloud, web, data center and remote-work environments. Its platform is designed to help enterprises protect data, applications and users while providing visibility and control across distributed information-technology environments.

The company’s Netskope One platform brings together security service edge (SSE) and secure access service edge (SASE) capabilities.