Netskope (NASDAQ:NTSK) Shares Climb 5.5% – Here’s What Happened

Shares of Netskope Inc. (NASDAQ:NTSK) rose 5.5% during mid-day trading on Wednesday. The stock traded as high as $20.96 and last traded at $20.9190. 316,945 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 5,065,879 shares. The stock had previously closed at $19.82.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NTSK shares. Robert W. Baird raised 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. Oppenheimer raised their target price on shares of Netskope from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. TD Cowen reaffirmed a “buy” rating and set a $19.00 target price on shares of Netskope in a report on Monday, August 17th. Piper Sandler upped their price objective 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. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Netskope in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Netskope has a consensus rating of “Moderate Buy” and a consensus target price of $18.75.

Netskope Price Performance

The company has a debt-to-equity ratio of 4.45, a current ratio of 2.01 and a quick ratio of 2.00. The stock’s fifty day moving average is $17.08 and its 200-day moving average is $13.28. The stock has a market cap of $9.07 billion and a PE ratio of -8.71.

Netskope (NASDAQ:NTSK) last released its quarterly 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 firm had revenue of $220.54 million for the quarter. Netskope had a negative net margin of 91.84% and a negative return on equity of 83.84%. Netskope has set its FY 2027 guidance at -0.150–0.150 EPS and its Q3 2027 guidance at -0.040–0.030 EPS. As a group, equities analysts anticipate that Netskope Inc. will post -0.82 EPS for the current year.

Insider Buying and Selling

In other Netskope news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of Netskope 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 through this link. 25.52% of the stock is owned by company insiders.

Institutional Trading of Netskope

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in 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 purchasing an additional 608,355 shares during the last quarter. Wasatch Advisors LP purchased a new stake in Netskope in the second quarter valued at $25,107,000. Weiss Asset Management LP purchased a new position in shares of Netskope during the first quarter worth about $8,957,000. New York Life Insurance Co. acquired a new stake in shares of Netskope during the second quarter worth about $11,325,580. Finally, Stephens Investment Management Group LLC lifted 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 during 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.