Piper Jaffray Companies Reiterates “Buy” Rating for NetScout Systems (NTCT)

NetScout Systems (NASDAQ:NTCT)‘s stock had its “buy” rating reissued by investment analysts at Piper Jaffray Companies in a research note issued to investors on Monday. They presently have a $32.00 price target on the technology company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 18.74% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. B. Riley raised their price objective on NetScout Systems from $28.50 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada reissued a “hold” rating on shares of NetScout Systems in a research report on Tuesday, January 30th. Zacks Investment Research downgraded NetScout Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 16th. BidaskClub downgraded NetScout Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 13th. Finally, Craig Hallum set a $23.00 price target on NetScout Systems and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $29.00.

NetScout Systems (NASDAQ:NTCT) opened at $26.95 on Monday. NetScout Systems has a one year low of $25.50 and a one year high of $38.47. The firm has a market capitalization of $2,351.85, a P/E ratio of 28.07, a P/E/G ratio of 2.58 and a beta of 1.52. The company has a quick ratio of 1.61, a current ratio of 1.70 and a debt-to-equity ratio of 0.13.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. NetScout Systems had a return on equity of 5.34% and a net margin of 7.95%. The firm had revenue of $272.00 million during the quarter, compared to the consensus estimate of $271.36 million. During the same period last year, the business posted $0.60 EPS. NetScout Systems’s quarterly revenue was down 12.7% on a year-over-year basis. equities analysts predict that NetScout Systems will post 1.04 earnings per share for the current fiscal year.

NetScout Systems declared that its board has authorized a stock repurchase program on Thursday, October 26th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In other NetScout Systems news, insider John Downing sold 3,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $28.20, for a total transaction of $84,600.00. Following the completion of the transaction, the insider now owns 47,427 shares of the company’s stock, valued at $1,337,441.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.51% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Flinton Capital Management LLC increased its position in NetScout Systems by 74.5% during the second quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock worth $158,000 after buying an additional 1,968 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of NetScout Systems during the third quarter worth $206,000. Suntrust Banks Inc. acquired a new stake in shares of NetScout Systems during the fourth quarter worth $214,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of NetScout Systems by 170.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,591 shares of the technology company’s stock worth $231,000 after purchasing an additional 4,788 shares during the last quarter. Finally, Shelton Capital Management acquired a new stake in shares of NetScout Systems during the second quarter worth $237,000.

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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.

Analyst Recommendations for NetScout Systems (NASDAQ:NTCT)

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