Piper Jaffray Companies lowered shares of NetScout Systems (NASDAQ:NTCT) from an overweight rating to a neutral rating in a research note released on Wednesday morning, 24/7 WallStreet reports. They currently have $30.00 target price on the technology company’s stock, down from their previous target price of $31.00. Piper Jaffray Companies also issued estimates for NetScout Systems’ Q4 2019 earnings at $0.51 EPS, FY2019 earnings at $0.81 EPS, Q1 2020 earnings at $0.04 EPS, Q2 2020 earnings at $0.24 EPS, Q3 2020 earnings at $0.41 EPS, Q4 2020 earnings at $0.39 EPS, FY2020 earnings at $1.07 EPS, Q1 2021 earnings at $0.13 EPS, Q2 2021 earnings at $0.34 EPS, Q3 2021 earnings at $0.54 EPS, Q4 2021 earnings at $0.48 EPS, FY2021 earnings at $1.47 EPS and FY2022 earnings at $1.78 EPS.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of NetScout Systems from a buy rating to a hold rating in a research report on Thursday, January 24th. ValuEngine upgraded shares of NetScout Systems from a hold rating to a buy rating in a research report on Friday, February 15th. Finally, Lake Street Capital set a $33.00 target price on shares of NetScout Systems and gave the company a buy rating in a research report on Wednesday, December 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $29.00.
Shares of NASDAQ NTCT opened at $28.27 on Wednesday. The company has a market capitalization of $2.17 billion, a PE ratio of 28.56, a PEG ratio of 2.57 and a beta of 1.30. NetScout Systems has a 52-week low of $21.58 and a 52-week high of $31.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.00 and a current ratio of 2.08.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Wednesday, January 30th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. The firm had revenue of $246.00 million for the quarter, compared to the consensus estimate of $237.17 million. NetScout Systems had a negative net margin of 8.32% and a positive return on equity of 2.09%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 EPS. On average, equities research analysts expect that NetScout Systems will post 0.8 EPS for the current year.
In related news, Director Joseph G. Hadzima, Jr. sold 3,500 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $28.00, for a total transaction of $98,000.00. Following the transaction, the director now owns 113,798 shares in the company, valued at approximately $3,186,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Szabados sold 6,000 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $25.85, for a total transaction of $155,100.00. Following the transaction, the insider now owns 49,403 shares in the company, valued at approximately $1,277,067.55. The disclosure for this sale can be found here. Insiders have sold a total of 12,500 shares of company stock worth $333,140 in the last quarter. 3.93% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in NTCT. Geode Capital Management LLC raised its holdings in NetScout Systems by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 833,247 shares of the technology company’s stock worth $19,689,000 after buying an additional 25,915 shares during the last quarter. Norges Bank acquired a new position in NetScout Systems during the fourth quarter worth $32,308,000. FMR LLC raised its holdings in NetScout Systems by 10.3% during the fourth quarter. FMR LLC now owns 102,271 shares of the technology company’s stock worth $2,417,000 after buying an additional 9,564 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in NetScout Systems by 1,043.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 45,602 shares of the technology company’s stock worth $1,078,000 after buying an additional 41,613 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in NetScout Systems by 0.5% during the fourth quarter. Macquarie Group Ltd. now owns 1,273,115 shares of the technology company’s stock worth $30,084,000 after buying an additional 6,700 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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