NetScout Systems (NASDAQ:NTCT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday.

According to Zacks, “NetScout Systems, Inc. is a leading provider of business assurance – a powerful combination of service assurance, cybersecurity, and business intelligence solutions – for today’s most demanding service provider, enterprise and government networks. NETSCOUT’s Adaptive Service Intelligence (ASI) technology continuously monitors the service delivery environment to identify performance issues and provides insight into network-based security threats, helping teams to quickly resolve issues that can cause business disruptions or impact user experience. NETSCOUT delivers unmatched service visibility and protects the digital infrastructure that supports our connected world. “

NTCT has been the subject of several other research reports. KeyCorp restated a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. Piper Jaffray Companies started coverage on NetScout Systems in a research report on Monday, November 13th. They set an “overweight” rating and a $34.00 target price for the company. BidaskClub lowered NetScout Systems from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Royal Bank of Canada dropped their target price on NetScout Systems to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, January 11th. Finally, Craig Hallum decreased their price target 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. NetScout Systems has a consensus rating of “Hold” and a consensus target price of $29.67.

Shares of NetScout Systems (NASDAQ:NTCT) traded down $0.55 during trading hours on Tuesday, hitting $26.55. The company’s stock had a trading volume of 2,414,400 shares, compared to its average volume of 1,989,000. NetScout Systems has a fifty-two week low of $25.75 and a fifty-two week high of $38.47. The stock has a market capitalization of $2,361.52, a price-to-earnings ratio of 156.19, a PEG ratio of 2.70 and a beta of 1.60. 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 (NASDAQ:NTCT) last announced its earnings results on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The business had revenue of $256.90 million during the quarter, compared to analyst estimates of $251.13 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. analysts expect that NetScout Systems will post 1 earnings per share for the current fiscal year.

NetScout Systems announced that its board has authorized a stock buyback plan on Thursday, October 26th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

In other news, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction that occurred on 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 of the company’s stock, valued at $2,502,087.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total transaction of $140,950.00. Following the sale, the insider now directly 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. Insiders own 3.51% of the company’s stock.

Large investors have recently modified their holdings of the stock. Flinton Capital Management LLC raised its stake in NetScout Systems by 74.5% in the second quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock worth $158,000 after buying an additional 1,968 shares in the last quarter. Riverhead Capital Management LLC raised its stake in NetScout Systems by 77.9% in the second quarter. Riverhead Capital Management LLC now owns 5,158 shares of the technology company’s stock worth $177,000 after buying an additional 2,258 shares in the last quarter. First Allied Advisory Services Inc. raised its stake in NetScout Systems by 515.1% in the second quarter. First Allied Advisory Services Inc. now owns 5,911 shares of the technology company’s stock worth $200,000 after buying an additional 4,950 shares in the last quarter. Stevens Capital Management LP bought a new position in NetScout Systems in the third quarter worth approximately $206,000. Finally, Shelton Capital Management bought a new position in NetScout Systems in the second quarter worth approximately $237,000.

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NetScout Systems Company Profile

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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Analyst Recommendations for NetScout Systems (NASDAQ:NTCT)

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