ValuEngine upgraded shares of NetScout Systems (NASDAQ:NTCT) from a sell rating to a hold rating in a report released on Wednesday.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of NetScout Systems from a sell rating to a strong-buy rating and set a $25.00 price objective for the company in a research note on Saturday, October 13th. BidaskClub cut shares of NetScout Systems from a sell rating to a strong sell rating in a research note on Saturday, August 18th. Finally, Piper Jaffray Companies set a $31.00 price objective on shares of NetScout Systems and gave the company a buy rating in a research note on Monday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $27.17.
NASDAQ:NTCT traded down $0.26 during mid-day trading on Wednesday, hitting $23.91. 2,492,325 shares of the stock traded hands, compared to its average volume of 855,729. The stock has a market cap of $1.95 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.69 and a beta of 1.30. NetScout Systems has a 12-month low of $21.58 and a 12-month high of $31.95. The company has a current ratio of 2.00, a quick ratio of 1.90 and a debt-to-equity ratio of 0.29.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, July 26th. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $205.11 million during the quarter, compared to analysts’ expectations of $210.47 million. NetScout Systems had a net margin of 4.28% and a return on equity of 3.79%. NetScout Systems’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. On average, equities analysts forecast that NetScout Systems will post 0.9 earnings per share for the current fiscal year.
In other NetScout Systems news, Director Vincent J. Mullarkey sold 26,466 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $24.79, for a total value of $656,092.14. Following the completion of the transaction, the director now owns 10,147 shares of the company’s stock, valued at approximately $251,544.13. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Szabados sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $26.96, for a total transaction of $134,800.00. Following the completion of the transaction, the insider now directly owns 38,616 shares of the company’s stock, valued at approximately $1,041,087.36. The disclosure for this sale can be found here. In the last three months, insiders sold 40,466 shares of company stock valued at $1,021,472. Corporate insiders own 3.93% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. First Mercantile Trust Co. bought a new stake in shares of NetScout Systems in the 2nd quarter worth approximately $164,000. Hartford Investment Management Co. bought a new stake in shares of NetScout Systems in the 2nd quarter worth approximately $223,000. Pillar Pacific Capital Management LLC bought a new stake in shares of NetScout Systems in the 2nd quarter worth approximately $223,000. Tower Research Capital LLC TRC lifted its holdings in shares of NetScout Systems by 201.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,784 shares of the technology company’s stock worth $232,000 after acquiring an additional 5,198 shares during the last quarter. Finally, Element Capital Management LLC bought a new stake in shares of NetScout Systems in the 1st quarter worth approximately $261,000.
NetScout Systems Company Profile
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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