NetScout Systems (NASDAQ:NTCT) Rating Lowered to Hold at Zacks Research

NetScout Systems (NASDAQ:NTCT) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks reports.

NTCT has been the subject of a number of other reports. Weiss Ratings upgraded shares of NetScout Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Wall Street Zen upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.00.

NetScout Systems Trading Up 3.5%

NTCT stock opened at $40.69 on Thursday. The firm has a market cap of $2.96 billion, a PE ratio of 24.81 and a beta of 0.69. The stock has a 50-day moving average price of $39.01 and a 200-day moving average price of $38.50. NetScout Systems has a 1-year low of $25.20 and a 1-year high of $45.28.

NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, August 6th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.38 by $0.14. NetScout Systems had a return on equity of 9.25% and a net margin of 13.71%. The company had revenue of $210.42 million for the quarter, compared to analyst estimates of $196.17 million. During the same quarter in the prior year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. On average, analysts forecast that NetScout Systems will post 2.15 earnings per share for the current year.

Insider Buying and Selling at NetScout Systems

In other news, COO Sanjay Munshi sold 2,269 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $39.27, for a total value of $89,103.63. Following the completion of the sale, the chief operating officer directly owned 6,729 shares of the company’s stock, valued at $264,247.83. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Szabados sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $37.70, for a total value of $150,800.00. Following the sale, the director owned 41,654 shares of the company’s stock, valued at $1,570,355.80. This trade represents a 8.76% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 21,269 shares of company stock valued at $813,184. Insiders own 4.74% of the company’s stock.

Institutional Investors Weigh In On NetScout Systems

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in NetScout Systems in the second quarter worth $498,027,000. Legal & General Group Plc purchased a new position in NetScout Systems in the second quarter valued at approximately $165,970,000. Bank of New York Mellon Corp purchased a new stake in NetScout Systems in the second quarter worth $19,702,000. SEB Asset Management AB bought a new stake in shares of NetScout Systems in the first quarter valued at $14,137,000. Finally, Empowered Funds LLC bought a new position in shares of NetScout Systems during the 2nd quarter worth $14,811,000. 91.64% of the stock is owned by institutional investors.

NetScout Systems Company Profile

NetScout Systems, Inc develops solutions that help organizations monitor, manage, and secure digital networks. Its offerings provide visibility into network traffic, application performance, user experience, and cybersecurity events across enterprise, cloud, data center, and telecommunications environments.

The company’s portfolio includes the nGenius service assurance platform, packet-based monitoring and analysis tools, network traffic management products, and cybersecurity solutions designed to detect and mitigate distributed denial-of-service attacks and other network threats.