NetScout Systems (NASDAQ:NTCT) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a research note issued on Saturday. The brokerage currently has a $25.00 target price on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.69% from the stock’s previous close.
According to Zacks, “NetScout Systems, Inc. is a leading provider of business assurance – a powerful combination of service assurance, cybersecurity, and business intelligence solutions – for today’s most demanding service provider, enterprise and government networks. NETSCOUT’s Adaptive Service Intelligence (ASI) technology continuously monitors the service delivery environment to identify performance issues and provides insight into network-based security threats, helping teams to quickly resolve issues that can cause business disruptions or impact user experience. NETSCOUT delivers unmatched service visibility and protects the digital infrastructure that supports our connected world. “
A number of other analysts also recently weighed in on the company. ValuEngine downgraded NetScout Systems from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. BidaskClub downgraded NetScout Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 18th. Finally, Piper Jaffray Companies set a $31.00 target price on NetScout Systems and gave the stock a “buy” rating in a research report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $27.17.
NASDAQ:NTCT opened at $21.99 on Friday. The company has a market capitalization of $2.03 billion, a P/E ratio of 22.21, a PEG ratio of 2.86 and a beta of 1.30. NetScout Systems has a 1-year low of $21.58 and a 1-year high of $33.50. The company has a quick ratio of 1.90, a current ratio of 2.00 and a debt-to-equity ratio of 0.29.
NetScout Systems (NASDAQ:NTCT) last released its earnings results on Thursday, July 26th. The technology company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The company had revenue of $205.11 million during the quarter, compared to the consensus estimate of $210.47 million. NetScout Systems had a return on equity of 3.79% and a net margin of 4.28%. NetScout Systems’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, equities analysts forecast that NetScout Systems will post 0.88 EPS for the current fiscal year.
In other NetScout Systems news, insider John Downing sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vincent J. Mullarkey sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $25.43, for a total value of $152,580.00. Following the completion of the sale, the director now owns 36,613 shares of the company’s stock, valued at approximately $931,068.59. The disclosure for this sale can be found here. Insiders sold 40,466 shares of company stock valued at $1,021,472 in the last quarter. Corporate insiders own 3.93% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NTCT. First Mercantile Trust Co. bought a new position in shares of NetScout Systems during the second quarter valued at approximately $164,000. Hartford Investment Management Co. bought a new position in shares of NetScout Systems during the second quarter valued at approximately $223,000. Pillar Pacific Capital Management LLC bought a new position in shares of NetScout Systems during the second quarter valued at approximately $223,000. Tower Research Capital LLC TRC raised its holdings in shares of NetScout Systems by 201.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,784 shares of the technology company’s stock valued at $232,000 after acquiring an additional 5,198 shares in the last quarter. Finally, Element Capital Management LLC bought a new position in shares of NetScout Systems during the first quarter valued at approximately $261,000.
About NetScout Systems
NetScout Systems, Inc engages in the provision of application and network performance management solutions. Its integrated hardware and software solutions are used by commercial enterprises, governmental agencies, and telecommunication service providers. The company was founded by Anil K. Singhal and Narendra Popat in June 1984 and is headquartered in Westford, MA.
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