NetScout Systems Inc. (NTCT) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of NetScout Systems Inc. (NASDAQ:NTCT) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $33.00 target price on the stock.
According to Zacks, “NetScout Systems designs, develops, manufactures, markets and supports a family of integrated products that enable optimization of the performance and cost management of complex, high-speed networks, including their ability to deliver critical business applications and content to end-users efficiently. They manufacture and market these products in an integrated hardware and software solution suite that is used by enterprise and service provider businesses worldwide. “
A number of other equities analysts have also recently issued reports on the company. Pacific Crest restated a buy rating on shares of NetScout Systems in a report on Monday, September 12th. B. Riley restated a buy rating and set a $34.00 price target on shares of NetScout Systems in a report on Wednesday, August 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. NetScout Systems has an average rating of Buy and a consensus target price of $31.63.
NetScout Systems (NASDAQ:NTCT) opened at 29.25 on Wednesday. The firm has a 50-day moving average of $29.14 and a 200-day moving average of $24.98. NetScout Systems has a 52 week low of $18.77 and a 52 week high of $40.28. The company’s market cap is $2.69 billion.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $269 million for the quarter, compared to analysts’ expectations of $273.47 million. NetScout Systems had a positive return on equity of 5.80% and a negative net margin of 4.01%. The company’s revenue for the quarter was up 167.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. Equities analysts forecast that NetScout Systems will post $1.93 earnings per share for the current year.
In other NetScout Systems news, EVP John Downing sold 1,000 shares of the firm’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 transaction, the executive vice president now directly owns 100,989 shares in the company, valued at approximately $2,775,177.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael Szabados sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $27.64, for a total value of $138,200.00. Following the transaction, the chief operating officer now owns 35,526 shares in the company, valued at $981,938.64. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its position in shares of NetScout Systems by 2.9% in the second quarter. Macquarie Group Ltd. now owns 1,439,302 shares of the company’s stock valued at $32,025,000 after buying an additional 40,032 shares during the period. Nomura Holdings Inc. bought a new position in shares of NetScout Systems during the second quarter valued at $68,160,000. Mason Street Advisors LLC bought a new position in shares of NetScout Systems during the second quarter valued at $951,000. Schwab Charles Investment Management Inc. boosted its position in shares of NetScout Systems by 10.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 387,725 shares of the company’s stock valued at $8,627,000 after buying an additional 38,177 shares during the period. Finally, Amalgamated Bank boosted its position in shares of NetScout Systems by 10.9% in the second quarter. Amalgamated Bank now owns 11,361 shares of the company’s stock valued at $318,000 after buying an additional 1,115 shares during the period. Institutional investors and hedge funds own 98.12% of the company’s stock.
NetScout Systems Company Profile
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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