Netskope (NASDAQ:NTSK) Shares Up 9% – Here’s What Happened

by · The Markets Daily

Netskope Inc. (NASDAQ:NTSK – Get Free Report)’s stock price shot up 9% during mid-day trading on Tuesday . The company traded as high as $20.91 and last traded at $20.77. 1,296,289 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 2,459,470 shares. The stock had previously closed at $19.05.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. KeyCorp boosted their target price on shares of Netskope from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen began coverage on shares of Netskope in a research report on Monday, October 13th. They issued a “buy” rating and a $30.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $26.00 target price on shares of Netskope in a research report on Friday. Independent Research set a $27.00 target price on Netskope in a report on Monday, October 13th. Finally, UBS Group set a $27.00 price target on shares of Netskope in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.18.

View Our Latest Stock Report on Netskope

Netskope Stock Performance

The business’s fifty day moving average price is $21.16.

Netskope (NASDAQ:NTSK – Get Free Report) last released its quarterly earnings data on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, topping 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 firm’s revenue was up 33.0% on a year-over-year basis.

Insider Buying and Selling

In other Netskope news, Director William J.G. Griffith acquired 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was bought at an average price of $19.00 per share, with a total value of $38,000,000.00. Following the completion of the purchase, the director owned 11,238,175 shares of the company’s stock, valued at approximately $213,525,325. This represents a 21.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP purchased a new position in shares of Netskope in the third quarter worth about $5,891,000. Tudor Investment Corp ET AL bought a new stake in Netskope in the 3rd quarter worth $3,928,000. Polar Asset Management Partners Inc. purchased a new position in shares of Netskope in the third quarter valued at about $2,814,000. BlueCrest Capital Management Ltd bought a new position in shares of Netskope during the third quarter valued at about $5,035,000. Finally, Maven Securities LTD purchased a new stake in Netskope in the 3rd quarter worth approximately $227,000.

About Netskope

(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.

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