Netskope (NASDAQ:NTSK) Shares Down 5.5% – What’s Next?

by · The Cerbat Gem

Netskope Inc. (NASDAQ:NTSK – Get Free Report)’s stock price was down 5.5% during trading on Tuesday . The stock traded as low as $18.51 and last traded at $18.63. Approximately 411,727 shares were traded during trading, a decline of 84% from the average daily volume of 2,524,479 shares. The stock had previously closed at $19.71.

Analysts Set New Price Targets

A number of brokerages have issued reports on NTSK. JMP Securities started coverage on shares of Netskope in a research note on Monday, October 13th. They issued a “market outperform” rating and a $27.00 price objective on the stock. Morgan Stanley began coverage on Netskope in a research note on Monday, October 13th. They set an “overweight” rating and a $27.00 price objective for the company. Citizens Jmp started coverage on Netskope in a research note on Monday, October 13th. They issued a “mkt outperform” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $26.00 target price on shares of Netskope in a research report on Friday, December 12th. Finally, BMO Capital Markets began coverage on shares of Netskope in a research report on Monday, October 13th. They issued an “outperform” rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.18.

Read Our Latest Report on Netskope

Netskope Stock Down 5.1%

The stock’s 50-day moving average is $20.86.

Netskope (NASDAQ:NTSK – Get Free Report) last released its quarterly earnings data on Thursday, December 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.15. The business had revenue of $184.17 million during the quarter, compared to the consensus estimate of $175.81 million. The business’s revenue for the quarter was up 33.0% compared to the same quarter last year.

Institutional Investors Weigh In On Netskope

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of Netskope during the 3rd quarter valued at $41,000. Assetmark Inc. bought a new stake in Netskope during the third quarter worth about $83,000. RiverPark Advisors LLC acquired a new stake in Netskope during the third quarter worth about $87,000. SBI Securities Co. Ltd. bought a new position in Netskope in the 3rd quarter valued at about $89,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Netskope in the 3rd quarter valued at approximately $127,000.

Netskope Company Profile

(Get Free Report)

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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