Royal Bank Of Canada cut shares of NetScout Systems, Inc. (NASDAQ:NTCT) from an outperform rating to a sector perform rating in a research note released on Thursday morning. Royal Bank Of Canada currently has $31.00 price target on the stock.
A number of other brokerages have also commented on NTCT. Zacks Investment Research raised shares of NetScout Systems from a strong sell rating to a hold rating in a research report on Wednesday, December 28th. Pacific Crest lowered shares of NetScout Systems from an overweight rating to a sector weight rating in a research report on Monday, January 9th. Finally, B. Riley reissued a buy rating and issued a $34.00 price objective on shares of NetScout Systems in a research report on Thursday, October 27th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. NetScout Systems currently has a consensus rating of Hold and an average target price of $29.81.
Shares of NetScout Systems (NASDAQ:NTCT) opened at 32.10 on Thursday. NetScout Systems has a 52-week low of $18.77 and a 52-week high of $33.83. The firm’s market capitalization is $2.94 billion. The firm has a 50-day moving average of $32.12 and a 200 day moving average of $29.59.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. The company earned $272 million during the quarter, compared to analysts’ expectations of $279.72 million. NetScout Systems had a negative net margin of 3.38% and a positive return on equity of 5.51%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Analysts predict that NetScout Systems will post $1.89 EPS for the current year.
In other NetScout Systems news, insider John Downing sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $27.50, for a total transaction of $27,500.00. Following the sale, the insider now directly owns 109,963 shares of the company’s stock, valued at $3,023,982.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Szabados sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $27.45, for a total transaction of $137,250.00. Following the sale, the chief operating officer now directly owns 44,007 shares in the company, valued at $1,207,992.15. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NTCT. Sei Investments Co. raised its stake in NetScout Systems by 219.8% in the second quarter. Sei Investments Co. now owns 5,587 shares of the company’s stock valued at $124,000 after buying an additional 3,840 shares during the period. LS Investment Advisors LLC raised its stake in NetScout Systems by 64.8% in the second quarter. LS Investment Advisors LLC now owns 5,637 shares of the company’s stock valued at $125,000 after buying an additional 2,216 shares during the period. Tower Research Capital LLC TRC purchased a new stake in NetScout Systems during the second quarter valued at about $141,000. D.A. Davidson & CO. raised its stake in NetScout Systems by 702.9% in the third quarter. D.A. Davidson & CO. now owns 5,026 shares of the company’s stock valued at $147,000 after buying an additional 4,400 shares during the period. Finally, Noesis Capital Mangement Corp purchased a new stake in NetScout Systems during the third quarter valued at about $208,000.
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.