Analysts at Piper Jaffray Companies started coverage on shares of NetScout Systems, Inc. (NASDAQ:NTCT) in a report released on Monday. The brokerage set an “overweight” rating and a $34.00 price target on the technology company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 19.09% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $35.00 price target on shares of NetScout Systems in a report on Monday, September 4th. Zacks Investment Research cut shares of NetScout Systems from a “buy” rating to a “sell” rating in a research note on Thursday, November 2nd. BidaskClub cut shares of NetScout Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Craig Hallum dropped their price objective on shares of NetScout Systems from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, October 26th. Finally, KeyCorp restated a “hold” rating on shares of NetScout Systems in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. NetScout Systems currently has an average rating of “Hold” and an average price target of $33.20.

Shares of NetScout Systems (NASDAQ:NTCT) opened at $28.55 on Monday. The company has a quick ratio of 1.51, a current ratio of 1.60 and a debt-to-equity ratio of 0.14. NetScout Systems has a 1-year low of $27.65 and a 1-year high of $38.47. The firm has a market cap of $2,500.95, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.57.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. NetScout Systems had a net margin of 1.52% and a return on equity of 5.15%. The firm had revenue of $256.90 million during the quarter, compared to the consensus estimate of $251.13 million. During the same period in the prior year, the firm earned $0.39 EPS. The business’s revenue was down 5.6% on a year-over-year basis. equities research analysts predict that NetScout Systems will post 1.59 earnings per share for the current year.

NetScout Systems declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 26th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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In related news, EVP John Downing sold 3,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $28.17, for a total transaction of $84,510.00. Following the completion of the sale, the executive vice president now owns 88,821 shares in the company, valued at approximately $2,502,087.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Szabados sold 5,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $28.19, for a total transaction of $140,950.00. Following the sale, the insider now owns 43,424 shares of the company’s stock, valued at approximately $1,224,122.56. The disclosure for this sale can be found here. Corporate insiders own 3.51% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Amalgamated Bank increased its position in shares of NetScout Systems by 0.5% during the 2nd quarter. Amalgamated Bank now owns 12,678 shares of the technology company’s stock worth $436,000 after purchasing an additional 59 shares in the last quarter. Bank of Montreal Can increased its position in shares of NetScout Systems by 8.9% during the 2nd quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock worth $113,000 after purchasing an additional 271 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of NetScout Systems by 4.3% during the 2nd quarter. Capstone Asset Management Co. now owns 6,786 shares of the technology company’s stock worth $233,000 after purchasing an additional 280 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of NetScout Systems by 5.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,960 shares of the technology company’s stock worth $239,000 after purchasing an additional 363 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of NetScout Systems by 2.3% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 16,187 shares of the technology company’s stock worth $360,000 after purchasing an additional 369 shares in the last quarter.

About NetScout Systems

NetScout Systems, Inc (NetScout) provides operational intelligence and performance analytics for service assurance and cyber security solutions. The Company’s solutions are used in various service provider, enterprise and government networks. Its nGenius and Infinistream technologies, along with certain product lines from the acquired businesses, enable information technology (IT) organizations to manage service delivery quality, and identify and address business service performance issues and security threats.

Analyst Recommendations for NetScout Systems (NASDAQ:NTCT)

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