NetScout Systems, Inc. (NASDAQ:NTCT) – Investment analysts at DA Davidson raised their Q3 2018 earnings per share estimates for shares of NetScout Systems in a research note issued on Wednesday. DA Davidson analyst M. Kelleher now expects that the technology company will earn $0.57 per share for the quarter, up from their prior estimate of $0.51. DA Davidson currently has a “Neutral” rating and a $27.00 target price on the stock. DA Davidson also issued estimates for NetScout Systems’ Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $1.07 EPS, Q1 2019 earnings at $0.11 EPS, Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.34 EPS, Q4 2019 earnings at $0.32 EPS and FY2019 earnings at $0.97 EPS.
NTCT has been the topic of several other research reports. Zacks Investment Research lowered NetScout Systems from a “buy” rating to a “sell” rating in a report on Thursday, November 2nd. Piper Jaffray Companies started coverage on NetScout Systems in a report on Monday, November 13th. They issued an “overweight” rating and a $34.00 price target on the stock. KeyCorp reiterated a “hold” rating on shares of NetScout Systems in a report on Wednesday, October 11th. BidaskClub lowered NetScout Systems from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Finally, Craig Hallum cut their price target on NetScout Systems from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $29.67.
NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, October 26th. The technology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $256.90 million for the quarter, compared to analyst estimates of $251.13 million. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS.
Hedge funds have recently bought and sold shares of the company. Flinton Capital Management LLC lifted its holdings 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 valued at $158,000 after purchasing an additional 1,968 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings 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 valued at $177,000 after purchasing an additional 2,258 shares in the last quarter. First Allied Advisory Services Inc. lifted its holdings 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 valued at $200,000 after purchasing an additional 4,950 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of NetScout Systems in the third quarter valued at approximately $206,000. Finally, Shelton Capital Management bought a new position in shares of NetScout Systems in the second quarter valued at approximately $237,000.
In other news, EVP John Downing sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total value of $84,510.00. Following the transaction, the executive vice president now owns 88,821 shares in the company, valued at $2,502,087.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Szabados sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 43,424 shares in the company, valued at approximately $1,224,122.56. The disclosure for this sale can be found here. 3.51% of the stock is currently owned by corporate insiders.
NetScout Systems declared that its board has authorized a share buyback plan on Thursday, October 26th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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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