NetScout Systems Inc. (NTCT) Trading Up 1%
NetScout Systems Inc. (NASDAQ:NTCT) was up 1% during mid-day trading on Tuesday . The stock traded as high as $24.87 and last traded at $24.76, with a volume of 100,724 shares changing hands. The stock had previously closed at $24.51.
Several equities research analysts have recently issued reports on NTCT shares. Royal Bank Of Canada started coverage on shares of NetScout Systems in a research report on Tuesday, April 12th. They set an “outperform” rating and a $28.00 price objective on the stock. Zacks Investment Research cut shares of NetScout Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Finally, B. Riley reiterated a “buy” rating and set a $33.00 price objective on shares of NetScout Systems in a research report on Thursday, May 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $33.25.
The firm has a 50 day moving average of $23.63 and a 200 day moving average of $22.91. The firm’s market cap is $2.34 billion.
NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, May 5th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. During the same quarter in the prior year, the company earned $0.67 EPS. The firm earned $285.88 million during the quarter, compared to analysts’ expectations of $302.65 million. NetScout Systems’s quarterly revenue was up 139.4% on a year-over-year basis. On average, equities analysts forecast that NetScout Systems Inc. will post $1.89 EPS for the current fiscal year.
In other NetScout Systems news, COO Michael Szabados sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $23.08, for a total value of $115,400.00. Following the sale, the chief operating officer now owns 40,526 shares in the company, valued at approximately $935,340.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
A number of large investors recently added to or reduced their stakes in the company. Russell Frank Co raised its stake in NetScout Systems by 70.3% in the fourth quarter. Russell Frank Co now owns 96,774 shares of the company’s stock valued at $3,016,000 after buying an additional 39,947 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in NetScout Systems by 1.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 40,593 shares of the company’s stock valued at $1,246,000 after buying an additional 435 shares in the last quarter. First Trust Advisors LP raised its stake in NetScout Systems by 29.0% in the fourth quarter. First Trust Advisors LP now owns 155,567 shares of the company’s stock valued at $4,776,000 after buying an additional 34,944 shares in the last quarter. Rhumbline Advisers raised its stake in NetScout Systems by 2.9% in the fourth quarter. Rhumbline Advisers now owns 187,496 shares of the company’s stock valued at $5,756,000 after buying an additional 5,280 shares in the last quarter. Finally, Oxford Asset Management bought a new stake in NetScout Systems during the fourth quarter valued at approximately $1,183,000.
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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