NetScout Systems (NASDAQ:NTCT) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of NetScout Systems (NASDAQ:NTCT) from a hold rating to a sell rating in a research note released on Thursday, June 20th, BidAskClub reports.

A number of other research firms have also recently issued reports on NTCT. Zacks Investment Research upgraded Zymeworks from a hold rating to a buy rating and set a $18.00 price objective for the company in a report on Saturday, April 13th. Piper Jaffray Companies set a $44.00 price objective on First Merchants and gave the company a buy rating in a report on Wednesday, April 10th. Finally, ValuEngine cut Valero Energy from a hold rating to a sell rating in a report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. NetScout Systems has an average rating of Hold and a consensus target price of $29.00.

NASDAQ NTCT traded up $0.12 during trading on Thursday, hitting $26.27. 418,803 shares of the stock traded hands, compared to its average volume of 557,880. The firm has a market capitalization of $2.03 billion, a P/E ratio of 32.43, a P/E/G ratio of 2.83 and a beta of 1.33. The company has a 50-day moving average of $25.37. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.27. NetScout Systems has a 12-month low of $21.58 and a 12-month high of $31.77.

NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.05. NetScout Systems had a positive return on equity of 3.16% and a negative net margin of 8.06%. The firm had revenue of $235.00 million during the quarter, compared to analysts’ expectations of $235.04 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts forecast that NetScout Systems will post 0.93 EPS for the current fiscal year.

In other news, insider Michael Szabados sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $28.10, for a total value of $168,600.00. Following the completion of the transaction, the insider now directly owns 37,403 shares of the company’s stock, valued at approximately $1,051,024.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Downing sold 3,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $26.41, for a total value of $79,230.00. The disclosure for this sale can be found here. Insiders own 3.93% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NTCT. Norges Bank purchased a new stake in NetScout Systems during the 4th quarter valued at about $32,308,000. Legal & General Group Plc boosted its stake in shares of NetScout Systems by 891.5% in the fourth quarter. Legal & General Group Plc now owns 995,042 shares of the technology company’s stock worth $23,512,000 after buying an additional 894,682 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of NetScout Systems by 200.8% in the fourth quarter. Prudential Financial Inc. now owns 1,012,978 shares of the technology company’s stock worth $23,936,000 after buying an additional 676,184 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of NetScout Systems by 2,038.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 678,701 shares of the technology company’s stock worth $29,000 after buying an additional 646,969 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of NetScout Systems by 9.6% in the first quarter. Neuberger Berman Group LLC now owns 5,908,149 shares of the technology company’s stock worth $165,842,000 after buying an additional 515,917 shares during the last quarter.

NetScout Systems Company Profile

NetScout Systems, Inc provides real-time operational intelligence and performance analytics for digital business services against disruptions in availability, performance, and security in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.

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