NetScout Systems Inc. (NASDAQ:NTCT) Receives Consensus Recommendation of “Hold” from Analysts
Shares of NetScout Systems Inc. (NASDAQ:NTCT) have earned an average recommendation of “Hold” from the nine brokerages that are covering the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $28.20.
A number of research firms recently commented on NTCT. B. Riley reiterated a “buy” rating and issued a $34.00 price objective on shares of NetScout Systems in a report on Wednesday, August 3rd. Pacific Crest restated a “buy” rating on shares of NetScout Systems in a research note on Monday, September 12th. Finally, Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research note on Friday, August 5th.
NetScout Systems (NASDAQ:NTCT) traded down 0.85% during mid-day trading on Friday, hitting $29.17. The stock had a trading volume of 230,306 shares. The stock’s market cap is $2.68 billion. The firm has a 50-day moving average of $28.92 and a 200-day moving average of $24.59. NetScout Systems has a 52-week low of $18.77 and a 52-week high of $40.28.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. NetScout Systems had a positive return on equity of 5.80% and a negative net margin of 4.01%. The firm had revenue of $269 million for the quarter, compared to analysts’ expectations of $273.47 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 167.1% on a year-over-year basis. On average, analysts forecast that NetScout Systems will post $1.93 EPS for the current fiscal year.
In other news, EVP John Downing sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $27.48, for a total transaction of $27,480.00. Following the sale, the executive vice president now owns 100,989 shares of the company’s stock, valued at $2,775,177.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Szabados sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $27.64, for a total value of $138,200.00. Following the sale, the chief operating officer now directly owns 35,526 shares in the company, valued at approximately $981,938.64. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in NetScout Systems by 88.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,602,096 shares of the company’s stock worth $36,800,000 after buying an additional 751,711 shares in the last quarter. Rockshelter Capital Management LLC raised its position in NetScout Systems by 28.6% in the first quarter. Rockshelter Capital Management LLC now owns 309,172 shares of the company’s stock valued at $7,102,000 after buying an additional 68,800 shares during the period. State Street Corp raised its position in NetScout Systems by 6.1% in the first quarter. State Street Corp now owns 3,165,602 shares of the company’s stock valued at $72,708,000 after buying an additional 182,648 shares during the period. Zebra Capital Management LLC raised its position in NetScout Systems by 39.0% in the first quarter. Zebra Capital Management LLC now owns 33,764 shares of the company’s stock valued at $776,000 after buying an additional 9,473 shares during the period. Finally, Royce & Associates LP acquired a new position in NetScout Systems during the first quarter valued at approximately $4,272,000. 98.12% of the stock is currently owned by institutional investors and hedge funds.
About NetScout Systems
NetScout Systems, Inc is a provider of network, application and service assurance solutions. The Company provides performance analytics that help enterprise, government and service provider customers manage service delivery and identify emerging performance problems. The Company designs, develops, manufactures, markets, licenses, sells and supports the products in hardware and software solutions that are used by commercial enterprises, governmental agencies and telecommunication service providers.
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