Netskope (NASDAQ:NTSK) Given New $23.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Netskope’s price target from $20 to $23 and maintained an “outperform” rating, implying about 8% upside from the prior close.
• Analyst sentiment is generally positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $19.82, though ratings include one Sell.
• Netskope reported a quarterly loss of $0.03 per share, beating analysts’ expected loss of $0.26; quarterly revenue was $220.54 million.

Netskope (NASDAQ:NTSK - Get Free Report) had its price objective lifted by equities research analysts at Royal Bank Of Canada from $20.00 to $23.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 7.98% from the company's previous close.

A number of other equities research analysts have also weighed in on NTSK. KeyCorp boosted their target price on shares of Netskope from $16.00 to $17.50 and gave the stock an "overweight" rating in a report on Friday, August 21st. Weiss Ratings reiterated a "sell (e+)" rating on shares of Netskope in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on shares of Netskope in a research note on Monday, August 17th. Zacks Research raised shares of Netskope from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 26th. Finally, BMO Capital Markets increased their price objective on Netskope from $13.00 to $18.00 and gave the company an "outperform" rating in a report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Netskope has a consensus rating of "Moderate Buy" and an average price target of $19.82.

Netskope Price Performance

Shares of NASDAQ:NTSK opened at $21.30 on Monday. The firm has a 50 day simple moving average of $19.12 and a 200 day simple moving average of $13.40. The company has a market cap of $8.70 billion, a price-to-earnings ratio of -8.35 and a beta of 2.43. Netskope has a one year low of $7.66 and a one year high of $26.71. The company has a debt-to-equity ratio of 4.45, a current ratio of 2.01 and a quick ratio of 2.00.

Netskope (NASDAQ:NTSK - Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.23. The company 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. Research analysts predict that Netskope will post -0.82 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of the firm'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 sale 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.

Hedge Funds Weigh In On Netskope

A number of institutional investors have recently modified their holdings of NTSK. Principal Financial Group Inc. increased its position in shares of Netskope by 31.4% during 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 during the last quarter. Wasatch Advisors LP bought a new position in Netskope during the second quarter valued at about $25,107,000. Weiss Asset Management LP bought a new position in Netskope during the first quarter valued at about $8,957,000. New York Life Insurance Co. purchased a new stake in Netskope during the second quarter worth about $11,325,580. Finally, Penn Capital Management Company LLC purchased a new stake in Netskope during the third quarter worth about $16,158,000.

About Netskope

Netskope, Inc provides cybersecurity and networking services that help organizations protect users, data and applications across cloud, web and private-network environments. Its offerings are designed to support distributed workforces and the use of cloud services while applying consistent security policies.

The company's Netskope One platform brings together security and networking capabilities, including secure web access, cloud application security, data loss prevention, threat protection and zero-trust network access.

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