NetScout Systems (NTCT) Rating Lowered to Strong Sell at BidaskClub
BidaskClub cut shares of NetScout Systems (NASDAQ:NTCT) from a sell rating to a strong sell rating in a research note published on Saturday.
Other equities analysts have also issued reports about the stock. Craig Hallum set a $23.00 target price on shares of NetScout Systems and gave the company a hold rating in a report on Wednesday, January 10th. DA Davidson lowered shares of NetScout Systems from a buy rating to a neutral rating and lowered their target price for the company from $37.00 to $27.00 in a report on Wednesday, January 10th. B. Riley reiterated a buy rating and set a $36.00 target price on shares of NetScout Systems in a report on Friday, October 27th. Royal Bank of Canada lowered their target price on shares of NetScout Systems to $27.00 and set a sector perform rating for the company in a report on Thursday, January 11th. Finally, Piper Jaffray Companies set a $30.00 target price on shares of NetScout Systems and gave the company a buy rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $29.67.
Shares of NetScout Systems (NTCT) opened at $27.55 on Friday. 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 $25.75 and a 1-year high of $38.47. The company has a market cap of $2,400.73, a PE ratio of 162.07, a price-to-earnings-growth ratio of 1.86 and a beta of 1.60.
NetScout Systems declared that its board has initiated a stock buyback plan on Thursday, October 26th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In related news, EVP John Downing sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $28.17, for a total value of $84,510.00. Following the completion of the transaction, the executive vice president now directly owns 88,821 shares in the company, valued at approximately $2,502,087.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Szabados sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $28.19, for a total transaction of $140,950.00. Following the completion of the transaction, the insider now owns 43,424 shares of the company’s stock, valued at $1,224,122.56. The disclosure for this sale can be found here. 3.51% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC raised its holdings in NetScout Systems by 74.5% in the 2nd quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,968 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in NetScout Systems by 77.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,158 shares of the technology company’s stock worth $177,000 after acquiring an additional 2,258 shares during the last quarter. First Allied Advisory Services Inc. raised its holdings in NetScout Systems by 515.1% in the 2nd quarter. First Allied Advisory Services Inc. now owns 5,911 shares of the technology company’s stock worth $200,000 after acquiring an additional 4,950 shares during the last quarter. Stevens Capital Management LP purchased a new position in NetScout Systems in the 3rd quarter worth approximately $206,000. Finally, Shelton Capital Management purchased a new position in NetScout Systems in the 2nd quarter worth approximately $237,000.
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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.
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