Netskope (NASDAQ:NTSK) Trading Up 10.1% on Analyst Upgrade

Key Points

• Netskope shares jumped 10.1% to about $15.33 after JPMorgan raised its price target from $14 to $16 and maintained an overweight rating.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $17.71.
• Netskope’s latest quarter showed a narrower-than-expected loss of $0.06 per share and 27.8% year-over-year revenue growth to $201.59 million, though insiders have been net sellers over the past 90 days.

Netskope Inc. (NASDAQ:NTSK - Get Free Report)'s stock price rose 10.1% during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $16.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netskope traded as high as $15.37 and last traded at $15.3320. Approximately 1,113,840 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,570,247 shares. The stock had previously closed at $13.92.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company lifted their target price on Netskope from $13.00 to $17.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. BTIG Research decreased their target price on Netskope from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, June 4th. Citizens Jmp cut their price target on shares of Netskope from $23.00 to $17.00 and set a "market outperform" rating on the stock in a research report on Friday, May 1st. Robert W. Baird reduced their price objective on shares of Netskope from $20.00 to $16.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. Finally, TD Cowen restated a "buy" rating and set a $19.00 price objective on shares of Netskope in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.71.

Insider Transactions at Netskope

In related news, Director Arif Janmohamed sold 1,313,827 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $9.19, for a total value of $12,074,070.13. Following the completion of the transaction, the director directly owned 336,173 shares of the company's stock, valued at approximately $3,089,429.87. This trade represents a 79.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lightspeed Venture Partners Se sold 1,313,827 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $9.19, for a total value of $12,074,070.13. Following the completion of the sale, the insider owned 336,173 shares in the company, valued at $3,089,429.87. This represents a 79.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders bought 1,833,380 shares of company stock worth $21,960,909 and sold 3,529,696 shares worth $33,002,807. 25.52% of the stock is currently owned by insiders.

Institutional Trading of Netskope

Several large investors have recently modified their holdings of NTSK. SBI Securities Co. Ltd. increased its holdings in Netskope by 32.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 5,164 shares of the company's stock valued at $91,000 after buying an additional 1,270 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of Netskope during the 4th quarter worth approximately $25,000. Quarry LP acquired a new stake in shares of Netskope during the 3rd quarter worth approximately $41,000. Triumph Capital Management boosted its position in shares of Netskope by 380.0% during the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company's stock worth $42,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its stake in Netskope by 35.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 9,200 shares of the company's stock valued at $161,000 after acquiring an additional 2,400 shares during the last quarter.

Netskope Price Performance

The firm has a market capitalization of $6.24 billion and a P/E ratio of -76.88. The company has a quick ratio of 2.16, a current ratio of 2.17 and a debt-to-equity ratio of 4.06. The business's 50 day moving average is $12.73 and its 200-day moving average is $11.18.

Netskope (NASDAQ:NTSK - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $201.59 million during the quarter. The business's quarterly revenue was up 27.8% on a year-over-year basis. Netskope has set its Q2 2027 guidance at -0.070--0.060 EPS and its FY 2027 guidance at -0.180--0.180 EPS. As a group, sell-side analysts predict that Netskope Inc. will post -0.88 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source