NetScout Systems Inc. (NTCT) Rating Increased to Buy at Zacks Investment Research
NetScout Systems Inc. (NASDAQ:NTCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $33.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 13.83% from the stock’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. “
NTCT has been the topic of a number of other research reports. Pacific Crest started coverage on shares of NetScout Systems in a report on Thursday, July 28th. They issued an “overweight” rating and a $31.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $34.00 target price on shares of NetScout Systems in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $31.63.
Shares of NetScout Systems (NASDAQ:NTCT) opened at 28.99 on Wednesday. The company has a 50 day moving average price of $29.10 and a 200-day moving average price of $24.92. The firm’s market cap is $2.67 billion. NetScout Systems has a 12-month low of $18.77 and a 12-month high of $40.28.
NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, July 28th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. NetScout Systems had a negative net margin of 4.01% and a positive return on equity of 5.80%. The firm had revenue of $269 million for the quarter, compared to analysts’ expectations of $273.47 million. During the same quarter last year, the company posted $0.33 earnings per share. NetScout Systems’s revenue was up 167.1% on a year-over-year basis. Analysts expect that NetScout Systems will post $1.93 EPS for the current year.
In other news, EVP John Downing sold 1,000 shares of NetScout Systems stock in a transaction that occurred 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 owns 100,989 shares of the company’s stock, valued at $2,775,177.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Michael Szabados sold 5,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $27.64, for a total value of $138,200.00. Following the sale, the chief operating officer now directly owns 35,526 shares in the company, valued at approximately $981,938.64. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its stake in NetScout Systems by 219.8% in the second quarter. Sei Investments Co. now owns 5,587 shares of the company’s stock worth $124,000 after buying an additional 3,840 shares during the period. LS Investment Advisors LLC boosted its stake 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 stake in NetScout Systems during the second quarter worth $141,000. Princeton Alpha Management LP acquired a new stake in NetScout Systems during the second quarter worth $206,000. Finally, Strs Ohio boosted its stake 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 currently 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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