Netskope (NASDAQ:NTSK) Stock Gets Price Target Boost from BTIG Research

Key Points

• BTIG Research raised Netskope’s price target from $18 to $22 and maintained a “buy” rating, implying 19.44% upside from the prior close. Analysts collectively rate the stock “Moderate Buy,” with a consensus target of $19.32.
• Netskope shares opened at $18.42, up 3.8%, after the company reported quarterly revenue of $220.54 million and an adjusted loss of $0.03 per share, beating the consensus estimate of a $0.26 loss.
• Insider activity has been notably positive: insiders bought approximately 1.83 million shares worth $21.96 million over the past three months, compared with about $2.96 million in sales.

Netskope (NASDAQ:NTSK - Get Free Report) had its price objective upped by analysts at BTIG Research from $18.00 to $22.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price target points to a potential upside of 19.44% from the stock's previous close.

Several other equities analysts have also commented on the company. Stephens began coverage on Netskope in a research report on Monday, September 14th. They set an "overweight" rating and a $21.00 price target on the stock. Mizuho set a $16.00 price objective on shares of Netskope in a research report on Wednesday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of Netskope from $16.00 to $18.00 and gave the stock an "overweight" rating in a research report on Thursday, September 3rd. Piper Sandler upped their target price on shares of Netskope from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. Finally, Robert W. Baird raised their price target on shares of Netskope from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.32.

Netskope Stock Up 3.8%

Shares of NASDAQ NTSK opened at $18.42 on Tuesday. Netskope has a 12-month low of $7.66 and a 12-month high of $24.98. The company has a market cap of $7.53 billion and a P/E ratio of -7.22. 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 fifty day moving average price of $15.42 and a 200 day moving average price of $12.23.

Netskope (NASDAQ:NTSK - Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.23. Netskope had a negative return on equity of 83.84% and a negative net margin of 91.84%.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. Research analysts anticipate that Netskope will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling at Netskope

In related news, Director William J.G. Griffith purchased 610,291 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The stock was acquired at an average price of $11.82 per share, for a total transaction of $7,213,639.62. Following the completion of the purchase, the director owned 610,291 shares in the company, valued at approximately $7,213,639.62. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lightspeed Venture Partners Se sold 219,075 shares of the company's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $12.23, for a total transaction of $2,679,287.25. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have acquired 1,833,380 shares of company stock valued at $21,960,909 and have sold 240,317 shares valued at $2,961,806. 25.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netskope

Several hedge funds and other institutional investors have recently modified their holdings of NTSK. Rockefeller Capital Management L.P. lifted its position in shares of Netskope by 199,900.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,000 shares of the company's stock worth $70,000 after purchasing an additional 3,998 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Netskope in the fourth quarter valued at about $87,000. Operose Advisors LLC acquired a new stake in Netskope during the second quarter valued at approximately $56,000. FNY Investment Advisers LLC lifted its holdings in Netskope by 88.9% during the 2nd quarter. FNY Investment Advisers LLC now owns 8,500 shares of the company's stock worth $92,000 after buying an additional 4,000 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Netskope by 57.6% during the 1st quarter. Assetmark Inc. now owns 9,264 shares of the company's stock worth $79,000 after buying an additional 3,385 shares during the last quarter.

Netskope Company Profile

Netskope, Inc is a cloud security company that provides technology for protecting data, users, applications and networks in modern digital environments. Its platform is designed to help organizations secure access to cloud services, web applications, private applications and other internet-connected resources while supporting distributed workforces and hybrid IT infrastructures.

The company's products include cloud access security broker (CASB) capabilities, secure web gateway services, zero trust network access, data loss prevention, cloud firewall functionality and security analytics.

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