NetScout Systems, Inc. (NTCT) Given Average Recommendation of “Hold” by Brokerages

NetScout Systems, Inc. (NASDAQ:NTCT) has been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $28.00.

NTCT has been the subject of several research analyst reports. Piper Jaffray Companies set a $30.00 price objective on NetScout Systems and gave the stock a “buy” rating in a research note on Thursday, January 11th. B. Riley reissued a “buy” rating and issued a $36.00 price objective on shares of NetScout Systems in a research note on Friday, October 27th. Zacks Investment Research raised NetScout Systems from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Thursday, October 26th. Royal Bank of Canada reissued a “hold” rating and issued a $33.00 price objective on shares of NetScout Systems in a research note on Friday, October 27th. Finally, Craig Hallum reduced their price objective on NetScout Systems from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, October 26th.

In related news, insider John Downing sold 3,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $28.20, for a total value of $84,600.00. Following the completion of the sale, the insider now directly owns 47,427 shares of the company’s stock, valued at approximately $1,337,441.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.51% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of NetScout Systems by 8.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,256,839 shares of the technology company’s stock worth $137,710,000 after purchasing an additional 315,626 shares in the last quarter. Turtle Creek Asset Management Inc. raised its stake in shares of NetScout Systems by 59.7% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 3,073,380 shares of the technology company’s stock worth $99,424,000 after purchasing an additional 1,148,671 shares in the last quarter. State Street Corp raised its stake in shares of NetScout Systems by 4.0% during the 2nd quarter. State Street Corp now owns 3,036,287 shares of the technology company’s stock worth $104,446,000 after purchasing an additional 116,515 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NetScout Systems by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,875,399 shares of the technology company’s stock worth $60,669,000 after purchasing an additional 14,361 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of NetScout Systems by 6.8% during the 3rd quarter. Macquarie Group Ltd. now owns 1,498,556 shares of the technology company’s stock worth $48,478,000 after purchasing an additional 95,260 shares in the last quarter.

NetScout Systems (NASDAQ:NTCT) opened at $27.10 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.70 and a quick ratio of 1.61. NetScout Systems has a 1 year low of $25.50 and a 1 year high of $38.47. The firm has a market capitalization of $2,360.00, a price-to-earnings ratio of 27.94, a P/E/G ratio of 2.58 and a beta of 1.52.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.69 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $272.00 million during the quarter, compared to analyst estimates of $271.36 million. During the same quarter last year, the company posted $0.60 EPS. NetScout Systems’s revenue for the quarter was down 12.7% on a year-over-year basis. research analysts expect that NetScout Systems will post 1.04 earnings per share for the current fiscal year.

NetScout Systems announced that its Board of Directors has initiated a stock repurchase program on Thursday, October 26th that allows the company to repurchase 25,000,000 shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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NetScout Systems Company Profile

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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