Netskope (NASDAQ:NTSK) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Netskope to “strong buy” from “hold,” while the broader analyst consensus remains “moderate buy” with an average price target of $18.75.
• Netskope 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 per share.
• Netskope shares opened at $26.15, near their 52-week high of $26.43, giving the company a market capitalization of approximately $10.68 billion.

Netskope (NASDAQ:NTSK - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday, Zacks reports.

NTSK has been the topic of several other reports. Mizuho set a $16.00 target price on Netskope in a report on Wednesday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of Netskope from $16.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday, September 3rd. Wells Fargo & Company raised their price objective on shares of Netskope from $17.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Rosenblatt Securities upped their target price on shares of Netskope from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Netskope in a report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Netskope presently has a consensus rating of "Moderate Buy" and an average target price of $18.75.

Netskope Price Performance

NASDAQ:NTSK opened at $26.15 on Monday. The firm has a market capitalization of $10.68 billion and a P/E ratio of -10.25. Netskope has a one year low of $7.66 and a one year high of $26.43. The company's 50-day simple moving average is $17.70 and its 200 day simple moving average is $13.10.

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

Insider Activity

In related news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $14.90, for a total transaction of $158,252.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 25.52% of the company's stock.

Institutional Investors Weigh In On Netskope

Several large investors have recently bought and sold shares of the business. Wasatch Advisors LP bought a new stake in shares of Netskope in the 2nd quarter worth about $25,107,000. Principal Financial Group Inc. lifted 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 acquiring an additional 608,355 shares during the last quarter. New York Life Insurance Co. bought a new position in shares of Netskope in the 2nd quarter valued at about $11,325,580. Weiss Asset Management LP purchased a new position in Netskope in the first quarter worth about $8,957,000. Finally, Stephens Investment Management Group LLC grew its position in Netskope by 117.5% in the first quarter. Stephens Investment Management Group LLC now owns 977,786 shares of the company's stock worth $8,301,000 after acquiring an additional 528,164 shares in the last quarter.

Netskope Company Profile

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.

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