Netskope (NASDAQ:NTSK) Stock Rating Upgraded by Wells Fargo & Company

Netskope (NASDAQ:NTSK) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Netskope in a research note on Monday, December 29th. Piper Sandler reiterated an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Oppenheimer lowered their target price on shares of Netskope from $28.00 to $23.00 and set an “outperform” rating on the stock in a report on Monday. Royal Bank Of Canada restated an “outperform” rating on shares of Netskope in a research report on Wednesday, February 11th. Finally, KeyCorp reduced 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.47.

Netskope Stock Performance

NTSK opened at $10.25 on Monday. The stock has a market cap of $4.03 billion and a PE ratio of -102.50. The company has a debt-to-equity ratio of 5.17, a quick ratio of 2.32 and a current ratio of 2.32. The company’s fifty day moving average price is $14.28. Netskope has a fifty-two week low of $9.13 and a fifty-two week high of $27.99.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings results on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The business had revenue of $184.17 million for the quarter, compared to the consensus estimate of $175.81 million. Netskope’s revenue was up 33.0% compared to the same quarter last year.

Insider Buying and Selling

In related news, CFO Matto Andrew H. Del sold 49,875 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total transaction of $855,855.00. Following the sale, the chief financial officer owned 41,493 shares of the company’s stock, valued at $712,019.88. This represents a 54.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Raphael Bousquet sold 3,823 shares of Netskope stock in a transaction on Monday, January 12th. The stock was 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. Over the last 90 days, insiders have sold 1,049,721 shares of company stock worth $18,020,279.

Institutional Investors Weigh In On Netskope

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new position in shares of Netskope in the 4th quarter worth approximately $25,000. Quarry LP bought a new stake in Netskope in the third quarter worth $41,000. Triumph Capital Management boosted its stake in Netskope by 380.0% during the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after buying an additional 1,900 shares during the period. Wells Fargo & Company MN increased its position in Netskope by 261.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock valued at $63,000 after acquiring an additional 2,617 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of Netskope in the fourth quarter valued at $64,000.

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.