BidaskClub upgraded shares of NetScout Systems, Inc. (NASDAQ:NTCT) from a sell rating to a hold rating in a report issued on Monday morning.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of NetScout Systems from a buy rating to a hold rating in a research report on Wednesday, May 10th. Royal Bank Of Canada reaffirmed a hold rating on shares of NetScout Systems in a research report on Thursday, July 20th. Finally, B. Riley reaffirmed a buy rating and set a $42.00 price objective on shares of NetScout Systems in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $39.00.
Shares of NetScout Systems (NASDAQ NTCT) traded down 1.46% during mid-day trading on Monday, reaching $33.75. 798,986 shares of the company’s stock were exchanged. NetScout Systems has a 52-week low of $26.25 and a 52-week high of $38.47. The stock’s 50-day moving average is $34.87 and its 200-day moving average is $35.78. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 171.32 and a beta of 1.61.
NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. NetScout Systems had a net margin of 1.60% and a return on equity of 5.53%. The business had revenue of $225.80 million during the quarter, compared to analysts’ expectations of $225.66 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. NetScout Systems’s revenue was down 16.1% compared to the same quarter last year. On average, equities analysts expect that NetScout Systems will post $2.00 EPS for the current year.
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In related news, Director Victor Demarines sold 5,400 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $35.88, for a total transaction of $193,752.00. Following the completion of the sale, the director now owns 17,732 shares of the company’s stock, valued at $636,224.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Szabados sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $34.73, for a total transaction of $173,650.00. Following the sale, the chief operating officer now directly owns 38,257 shares of the company’s stock, valued at approximately $1,328,665.61. The disclosure for this sale can be found here. Insiders have sold 16,400 shares of company stock valued at $575,002 in the last ninety days. 3.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of NetScout Systems by 9,990.2% in the first quarter. BlackRock Inc. now owns 10,120,265 shares of the technology company’s stock valued at $384,064,000 after buying an additional 10,019,967 shares during the last quarter. Norges Bank acquired a new position in shares of NetScout Systems during the fourth quarter valued at approximately $23,706,000. Dimensional Fund Advisors LP increased its position in shares of NetScout Systems by 28.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,141,660 shares of the technology company’s stock valued at $119,226,000 after buying an additional 693,589 shares during the last quarter. ValueAct Holdings L.P. increased its position in shares of NetScout Systems by 39.8% in the first quarter. ValueAct Holdings L.P. now owns 2,300,000 shares of the technology company’s stock valued at $87,285,000 after buying an additional 655,000 shares during the last quarter. Finally, Credit Suisse AG increased its position in shares of NetScout Systems by 666.0% in the first quarter. Credit Suisse AG now owns 694,890 shares of the technology company’s stock valued at $26,371,000 after buying an additional 604,179 shares during 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.
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