Royal Bank Of Canada Reiterates Hold Rating for NetScout Systems, Inc. (NASDAQ:NTCT)
NetScout Systems, Inc. (NASDAQ:NTCT)‘s stock had its “hold” rating reaffirmed by stock analysts at Royal Bank Of Canada in a report issued on Thursday.
Other analysts have also issued research reports about the company. B. Riley restated a “buy” rating and issued a $42.00 price objective on shares of NetScout Systems in a research note on Friday, May 5th. Zacks Investment Research upgraded NetScout Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Wednesday, April 5th. Finally, BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $36.50.
Shares of NetScout Systems (NASDAQ NTCT) traded down 0.87% on Thursday, hitting $34.25. The stock had a trading volume of 645,460 shares. NetScout Systems has a one year low of $24.67 and a one year high of $38.47. The firm’s 50 day moving average is $35.57 and its 200-day moving average is $35.64. The stock has a market capitalization of $3.14 billion, a PE ratio of 95.14 and a beta of 1.62.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, May 4th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.10. The firm had revenue of $318.92 million for the quarter, compared to analyst estimates of $327.10 million. NetScout Systems had a return on equity of 6.33% and a net margin of 2.84%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Equities research analysts expect that NetScout Systems will post $2.00 earnings per share for the current fiscal year.
In related news, Director Victor Demarines sold 5,400 shares of the stock in a transaction that occurred 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 sale, the director now owns 17,732 shares of the company’s stock, valued at $636,224.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Downing sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was 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 approximately $3,882,639. The disclosure for this sale can be found here. Insiders sold 11,400 shares of company stock worth $402,002 in the last ninety days. 3.30% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of NetScout Systems by 9,990.2% in the first quarter. BlackRock Inc. now owns 10,120,265 shares of the technology company’s stock worth $384,064,000 after buying an additional 10,019,967 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of NetScout Systems by 3.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,982 shares of the technology company’s stock worth $325,345,000 after buying an additional 260,089 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of NetScout Systems by 4.3% in the first quarter. Vanguard Group Inc. now owns 7,118,603 shares of the technology company’s stock worth $270,151,000 after buying an additional 295,917 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NetScout Systems by 28.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,141,660 shares of the technology company’s stock worth $119,226,000 after buying an additional 693,589 shares in the last quarter. Finally, State Street Corp increased its stake in shares of NetScout Systems by 0.4% in the first quarter. State Street Corp now owns 2,919,772 shares of the technology company’s stock worth $110,799,000 after buying an additional 10,241 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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