NetScout Systems (NTCT) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of NetScout Systems (NASDAQ:NTCT) from a sell rating to a hold rating in a research note published on Wednesday morning.

A number of other brokerages also recently commented on NTCT. Zacks Investment Research upgraded NetScout Systems from a sell rating to a hold rating in a research report on Friday, September 1st. Piper Jaffray Companies began coverage on NetScout Systems in a research report on Monday, November 13th. They set an overweight rating and a $34.00 price objective for the company. KeyCorp reissued a hold rating on shares of NetScout Systems in a research note on Wednesday, October 11th. Royal Bank of Canada reissued a hold rating and set a $35.00 target price on shares of NetScout Systems in a research note on Monday, September 4th. Finally, Craig Hallum cut their target price 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. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $33.20.

Shares of NetScout Systems (NASDAQ:NTCT) opened at $30.45 on Wednesday. NetScout Systems has a 52-week low of $27.65 and a 52-week high of $38.47. The company has a market capitalization of $2,653.44, a price-to-earnings ratio of 23.07, a PEG ratio of 1.82 and a beta of 1.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.60.

NetScout Systems (NASDAQ:NTCT) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The company had revenue of $256.90 million during the quarter, compared to the consensus estimate of $251.13 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. sell-side analysts forecast that NetScout Systems will post 1.59 earnings per share for the current fiscal year.

NetScout Systems announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 26th that permits the company to buyback 25,000,000 outstanding shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other news, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total value of $140,950.00. Following the transaction, the insider now directly owns 43,424 shares of the company’s stock, valued at $1,224,122.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Downing sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total transaction of $84,510.00. Following the completion of the transaction, the executive vice president now directly owns 88,821 shares in the company, valued at $2,502,087.57. The disclosure for this sale can be found here. 3.51% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NTCT. Bank of Montreal Can increased its stake in shares of NetScout Systems by 8.9% in the second quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock worth $113,000 after acquiring an additional 271 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of NetScout Systems by 74.5% in the second quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,968 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of NetScout Systems by 77.9% in the second quarter. Riverhead Capital Management LLC now owns 5,158 shares of the technology company’s stock worth $177,000 after acquiring an additional 2,258 shares during the last quarter. First Allied Advisory Services Inc. increased its stake in shares of NetScout Systems by 515.1% in the second quarter. First Allied Advisory Services Inc. now owns 5,911 shares of the technology company’s stock worth $200,000 after acquiring an additional 4,950 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new position in shares of NetScout Systems in the third quarter worth $206,000.

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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.

Analyst Recommendations for NetScout Systems (NASDAQ:NTCT)

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