NetScout Systems Price Target Raised to $32.00 at Needham & Company (NTCT)
Equities researchers at Needham & Company raised their target price on shares of NetScout Systems (NASDAQ:NTCT) from $31.00 to $32.00 in a research report issued on Friday, AnalystRatings.NET reports. The firm currently has a “buy” rating on the stock. Needham & Company’s target price points to a potential upside of 12.36% from the company’s current price.
NTCT has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of NetScout Systems from $29.00 to $31.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Wunderlich downgraded shares of NetScout Systems from a “buy” rating to a “hold” rating in a research note to investors on Thursday. They noted that the move was a valuation call. Finally, analysts at DA Davidson initiated coverage on shares of NetScout Systems in a research note to investors on Tuesday. They set a “buy” rating and a $33.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.34.
Shares of NetScout Systems (NASDAQ:NTCT) opened at 28.48 on Friday. NetScout Systems has a 52 week low of $21.22 and a 52 week high of $30.76. The stock’s 50-day moving average is $25.4 and its 200-day moving average is $24.59. The company has a market cap of $1.178 billion and a price-to-earnings ratio of 29.64.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.04. The company had revenue of $92.10 million for the quarter, compared to the consensus estimate of $88.87 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts predict that NetScout Systems will post $1.45 earnings per share for the current fiscal year.
NetScout Systems, Inc (NASDAQ:NTCT) designs, develops, manufactures, markets, licenses, sells and supports market application and network performance management and service assurance solutions for the Internet protocol (IP) based service delivery environments.
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