Netskope (NASDAQ:NTSK) Sets New 52-Week Low - Time to Sell?

Key Points

• Shares of Netskope hit a new 52-week low of $17.04 and were trading around $17.33 (down ~3.5%) on volume of about 302,984 shares.
• Wall Street maintains a generally positive view — the consensus rating is Moderate Buy with an average price target of $27.18 and most analysts issuing Buy/Outperform calls.
• Netskope beat the latest quarter's estimates (EPS -$0.10 vs. -$0.25 expected; revenue $184.17M vs. $175.81M), with revenue up 33% year-over-year, but the company remains unprofitable (negative P/E) and has a high debt-to-equity ratio (5.17).

Shares of Netskope Inc. (NASDAQ:NTSK - Get Free Report) reached a new 52-week low during trading on Friday . The stock traded as low as $17.04 and last traded at $17.33, with a volume of 302984 shares changing hands. The stock had previously closed at $17.54.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NTSK. Citigroup began coverage on shares of Netskope in a research note on Monday, October 13th. They issued an "outperform" rating on the stock. Citizens Jmp started coverage on Netskope in a research note on Monday, October 13th. They issued a "mkt outperform" rating and a $27.00 price target on the stock. William Blair started coverage on Netskope in a report on Monday, October 13th. They set an "outperform" rating for the company. Cowen started coverage on Netskope in a research note on Monday, October 13th. They issued a "buy" rating on the stock. Finally, Independent Research set a $27.00 target price on Netskope in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Netskope has a consensus rating of "Moderate Buy" and a consensus price target of $27.18.

Netskope Trading Down 3.5%

The stock has a 50-day simple moving average of $20.16. 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 stock has a market cap of $6.65 billion and a price-to-earnings ratio of -169.20.

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

Hedge Funds Weigh In On Netskope

A number of hedge funds have recently made changes to their positions in NTSK. Quarry LP bought a new position in Netskope during the third quarter worth $41,000. Assetmark Inc. bought a new position in shares of Netskope during the 3rd quarter worth about $83,000. RiverPark Advisors LLC acquired a new stake in shares of Netskope in the 3rd quarter valued at about $87,000. SBI Securities Co. Ltd. bought a new stake in Netskope in the 3rd quarter valued at about $89,000. Finally, Ameriflex Group Inc. acquired a new position in Netskope during the 3rd quarter worth approximately $127,000.

Netskope Company Profile

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.

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