Netskope (NASDAQ:NTSK) Shares Down 6.2% – Here’s What Happened

Shares of Netskope Inc. (NASDAQ:NTSK) traded down 6.2% on Monday. The stock traded as low as $22.94 and last traded at $22.7980. 409,636 shares changed hands during trading, a decline of 92% from the average session volume of 5,146,352 shares. The stock had previously closed at $24.30.

Wall Street Analysts Forecast Growth

NTSK has been the subject of a number of research reports. Oppenheimer lifted their target price on Netskope from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Netskope in a research note on Friday, October 2nd. Piper Sandler raised their price target on shares of Netskope from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. TD Cowen reiterated a “buy” rating and issued a $19.00 price objective on shares of Netskope in a research note on Monday, August 17th. Finally, Mizuho set a $16.00 price objective on shares of Netskope in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Netskope currently has an average rating of “Moderate Buy” and an average price target of $19.19.

Netskope Stock Performance

The stock has a 50 day simple moving average of $18.35 and a 200 day simple moving average of $13.24. The company has a current ratio of 2.01, a quick ratio of 2.00 and a debt-to-equity ratio of 4.45. The stock has a market cap of $9.44 billion, a P/E ratio of -9.08 and a beta of 2.41.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.23. The firm had revenue of $220.54 million during the quarter. Netskope had a negative return on equity of 83.84% and a negative net margin of 91.84%. 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, equities analysts expect that Netskope Inc. will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $14.90, for a total value of $158,252.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 25.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netskope

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP bought a new position in Netskope in the second quarter valued at approximately $25,107,000. Weiss Asset Management LP bought a new stake in Netskope during the first quarter worth $8,957,000. New York Life Insurance Co. bought a new stake in Netskope during the second quarter worth $11,325,580. Principal Financial Group Inc. boosted its holdings in shares of Netskope by 31.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company’s stock valued at $21,628,000 after purchasing an additional 608,355 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Netskope by 117.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 977,786 shares of the company’s stock valued at $8,301,000 after purchasing an additional 528,164 shares in the last quarter.

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.