NetScout Systems, Inc. (NTCT) Lowered to “Sell” at BidaskClub
BidaskClub downgraded shares of NetScout Systems, Inc. (NASDAQ:NTCT) from a hold rating to a sell rating in a research note published on Friday morning.
A number of other research firms have also issued reports on NTCT. Royal Bank Of Canada reissued a hold rating on shares of NetScout Systems in a report on Thursday, July 20th. B. Riley reissued a buy rating and issued a $44.00 target price on shares of NetScout Systems in a report on Wednesday, August 2nd. Finally, Zacks Investment Research lowered NetScout Systems from a buy rating to a hold rating in a report on Wednesday, May 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $39.00.
Shares of NetScout Systems (NTCT) traded up 0.92% during midday trading on Friday, hitting $33.05. 578,738 shares of the stock were exchanged. The firm has a 50 day moving average of $34.39 and a 200-day moving average of $35.83. NetScout Systems has a one year low of $26.25 and a one year high of $38.48. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 167.77 and a beta of 1.61.
NetScout Systems (NASDAQ:NTCT) last released its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.08. The business had revenue of $225.80 million for the quarter, compared to analyst estimates of $225.66 million. NetScout Systems had a return on equity of 5.53% and a net margin of 1.60%. The company’s revenue for the quarter was down 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. Equities analysts expect that NetScout Systems will post $2.06 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 on Tuesday, May 23rd. The stock was sold at an average price of $35.88, for a total transaction of $193,752.00. Following the transaction, the director now owns 17,732 shares of the company’s stock, valued at $636,224.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $34.60, for a total value of $173,000.00. Following the transaction, the insider now directly owns 39,170 shares in the company, valued at approximately $1,355,282. The disclosure for this sale can be found here. Corporate insiders own 3.51% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. AXA raised its position in shares of NetScout Systems by 371.7% in the first quarter. AXA now owns 50,000 shares of the technology company’s stock worth $1,898,000 after buying an additional 39,400 shares in the last quarter. Eagle Asset Management Inc. raised its position 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 worth $3,210,000 after buying an additional 10,476 shares in the last quarter. Nationwide Fund Advisors raised its position 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 worth $23,011,000 after buying an additional 58,505 shares in the last quarter. Ameriprise Financial Inc. raised its position 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 worth $13,372,000 after buying an additional 1,576 shares in the last quarter. Finally, B. Riley Financial Inc. raised its position 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 worth $497,000 after buying an additional 5,320 shares in 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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