Piper Jaffray Companies set a $32.00 price objective on NetScout Systems (NASDAQ:NTCT) in a research note published on Monday, February 12th. The brokerage currently has a buy rating on the technology company’s stock.
NTCT has been the topic of a number of other reports. Zacks Investment Research downgraded shares of NetScout Systems from a buy rating to a sell rating in a research note on Thursday, November 2nd. BidaskClub downgraded shares of NetScout Systems from a hold rating to a sell rating in a research note on Saturday, January 6th. Royal Bank of Canada reduced their price objective on shares of NetScout Systems to $27.00 and set a sector perform rating on the stock in a research note on Thursday, January 11th. Craig Hallum reduced their price objective on shares of NetScout Systems from $30.00 to $28.00 and set a hold rating on the stock in a research note on Thursday, October 26th. Finally, B. Riley reiterated a buy rating and set a $36.00 price objective on shares of NetScout Systems in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. NetScout Systems currently has an average rating of Hold and an average target price of $29.00.
NetScout Systems (NTCT) traded down $0.60 during trading hours on Monday, hitting $26.65. 1,173,100 shares of the stock were exchanged, compared to its average volume of 1,567,050. The company has a current ratio of 1.70, a quick ratio of 1.61 and a debt-to-equity ratio of 0.13. NetScout Systems has a twelve month low of $25.50 and a twelve month high of $38.47. The firm has a market capitalization of $2,378.03, a price-to-earnings ratio of 27.76, a PEG ratio of 2.61 and a beta of 1.52.
NetScout Systems (NASDAQ:NTCT) last announced its earnings results 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 net margin of 7.95% and a return on equity of 5.34%. The business had revenue of $272.00 million during the quarter, compared to the consensus estimate of $271.36 million. During the same period in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. equities analysts expect that NetScout Systems will post 1.04 earnings per share for the current year.
NetScout Systems announced that its Board of Directors has authorized a share buyback program on Thursday, October 26th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other NetScout Systems news, insider John Downing sold 3,000 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $28.20, for a total transaction of $84,600.00. Following the sale, the insider now directly owns 47,427 shares of the company’s stock, valued at $1,337,441.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.51% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new stake in shares of NetScout Systems during the fourth quarter worth $2,898,000. Vident Investment Advisory LLC acquired a new stake in shares of NetScout Systems during the fourth quarter worth $505,000. Jane Street Group LLC acquired a new stake in shares of NetScout Systems during the fourth quarter worth $462,000. PEAK6 Investments L.P. acquired a new stake in shares of NetScout Systems during the fourth quarter worth $502,000. Finally, Rodgers Brothers Inc. acquired a new stake in shares of NetScout Systems during the fourth quarter worth $394,000.
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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.
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