NetScout Systems Inc. (NASDAQ:NTCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $33.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 13.83% from the company’s current price.
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. “
Several other brokerages have also recently weighed in on NTCT. B. Riley reaffirmed a “buy” rating and set a $34.00 price objective on shares of NetScout Systems in a research note on Friday, July 29th. Pacific Crest initiated coverage on shares of NetScout Systems in a research report on Thursday, July 28th. They set an “overweight” rating and a $31.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. NetScout Systems has a consensus rating of “Buy” and a consensus target price of $31.63.
NetScout Systems (NASDAQ:NTCT) opened at 28.99 on Wednesday. The stock’s market capitalization is $2.67 billion. NetScout Systems has a 52-week low of $18.77 and a 52-week high of $40.28. The firm’s 50-day moving average is $29.10 and its 200 day moving average is $24.92.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 negative net margin of 4.01% and a positive return on equity of 5.80%. The company’s quarterly revenue was up 167.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, equities analysts forecast that NetScout Systems will post $1.93 earnings per share for the current year.
In other news, COO Michael Szabados sold 5,000 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $27.64, for a total transaction of $138,200.00. Following the completion of the sale, the chief operating officer now owns 35,526 shares of the company’s stock, valued at $981,938.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Downing sold 1,000 shares of the 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 sale, the executive vice president now directly owns 100,989 shares of the company’s stock, valued at approximately $2,775,177.72. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.
Several large investors have recently modified their holdings of NTCT. Sei Investments Co. increased its stake in shares of NetScout Systems by 219.8% in the second quarter. Sei Investments Co. now owns 5,587 shares of the company’s stock valued at $124,000 after buying an additional 3,840 shares in the last quarter. LS Investment Advisors LLC increased its position in NetScout Systems by 64.8% in the second quarter. LS Investment Advisors LLC now owns 5,637 shares of the company’s stock worth $125,000 after buying an additional 2,216 shares during the period. Tower Research Capital LLC TRC acquired a new position in NetScout Systems during the second quarter worth $141,000. Princeton Alpha Management LP acquired a new position in NetScout Systems during the second quarter worth $206,000. Finally, Strs Ohio increased its position in NetScout Systems by 44.6% in the second quarter. Strs Ohio now owns 9,400 shares of the company’s stock worth $209,000 after buying an additional 2,900 shares during the period. 98.12% of the stock is owned by institutional investors.
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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