Royal Bank Of Canada Reiterates “Hold” Rating for NetScout Systems, Inc. (NASDAQ:NTCT)
Several other brokerages also recently issued reports on NTCT. Zacks Investment Research raised shares of NetScout Systems from a hold rating to a buy rating and set a $42.00 price target for the company in a report on Wednesday, April 5th. BidaskClub raised shares of NetScout Systems from a sell rating to a hold rating in a report on Wednesday, July 12th. Finally, B. Riley reissued a buy rating and set a $42.00 price target on shares of NetScout Systems in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $36.50.
Shares of NetScout Systems (NASDAQ:NTCT) traded down 1.31% during mid-day trading on Thursday, reaching $33.80. 899,337 shares of the company were exchanged. NetScout Systems has a 12 month low of $24.67 and a 12 month high of $38.47. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 93.89 and a beta of 1.62. The company’s 50-day moving average is $35.50 and its 200 day moving average is $35.63.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, May 4th. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. The firm had revenue of $318.92 million during the quarter, compared to the consensus estimate of $327.10 million. NetScout Systems had a net margin of 2.84% and a return on equity of 6.33%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 earnings per share. Analysts predict that NetScout Systems will post $2.00 EPS for the current year.
In other NetScout Systems news, insider John Downing sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $34.60, for a total value of $34,600.00. Following the sale, the insider now directly owns 112,215 shares in the company, valued at $3,882,639. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael Szabados sold 5,000 shares of the business’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 completion of the sale, the chief operating officer now owns 38,257 shares in the company, valued at $1,328,665.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,400 shares of company stock worth $402,002. 3.30% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of NTCT. AXA boosted its stake in shares of NetScout Systems by 371.7% in the first quarter. AXA now owns 50,000 shares of the technology company’s stock valued at $1,898,000 after buying an additional 39,400 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of NetScout Systems by 14.1% in the first quarter. Eagle Asset Management Inc. now owns 84,602 shares of the technology company’s stock valued at $3,210,000 after buying an additional 10,476 shares during the period. Nationwide Fund Advisors boosted its stake in shares of NetScout Systems by 10.7% in the first quarter. Nationwide Fund Advisors now owns 606,356 shares of the technology company’s stock valued at $23,011,000 after buying an additional 58,505 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of NetScout Systems by 0.4% in the first quarter. Ameriprise Financial Inc. now owns 352,345 shares of the technology company’s stock valued at $13,372,000 after buying an additional 1,576 shares during the period. Finally, B. Riley Financial Inc. boosted its stake in shares of NetScout Systems by 68.4% in the first quarter. B. Riley Financial Inc. now owns 13,094 shares of the technology company’s stock valued at $497,000 after buying an additional 5,320 shares during the period.
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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