NetScout Systems (NTCT) Rating Lowered to Hold at Zacks Investment Research

NetScout Systems (NASDAQ:NTCT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “NetScout Systems, Inc. is a leading provider of business assurance – a powerful combination of service assurance, cybersecurity, and business intelligence solutions – for today’s most demanding service provider, enterprise and government networks. NETSCOUT’s Adaptive Service Intelligence (ASI) technology continuously monitors the service delivery environment to identify performance issues and provides insight into network-based security threats, helping teams to quickly resolve issues that can cause business disruptions or impact user experience. NETSCOUT delivers unmatched service visibility and protects the digital infrastructure that supports our connected world. “

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A number of other brokerages have also recently commented on NTCT. Craig Hallum set a $23.00 price target on NetScout Systems and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Royal Bank of Canada decreased their price target on NetScout Systems to $27.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 11th. Piper Jaffray set a $30.00 price target on NetScout Systems and gave the stock a “buy” rating in a research report on Thursday, January 11th. DA Davidson cut NetScout Systems from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $37.00 to $27.00 in a research report on Wednesday, January 10th. Finally, BidaskClub cut NetScout Systems from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. NetScout Systems presently has an average rating of “Hold” and an average price target of $28.50.

Shares of NASDAQ NTCT opened at $26.75 on Wednesday. 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 52 week low of $25.33 and a 52 week high of $38.47. The firm has a market capitalization of $2,308.22, a P/E ratio of 19.17, a P/E/G ratio of 2.42 and a beta of 1.53.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. NetScout Systems had a return on equity of 5.34% and a net margin of 7.95%. The company had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $271.36 million. During the same quarter last year, the business earned $0.60 earnings per share. NetScout Systems’s revenue was down 12.7% on a year-over-year basis. equities analysts anticipate that NetScout Systems will post 1.04 EPS for the current year.

In related news, insider John Downing sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $28.20, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.51% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB acquired a new stake in NetScout Systems in the fourth quarter valued at about $284,000. MetLife Investment Advisors LLC acquired a new stake in NetScout Systems in the fourth quarter valued at about $2,898,000. Vident Investment Advisory LLC acquired a new stake in NetScout Systems in the fourth quarter valued at about $505,000. Jane Street Group LLC acquired a new stake in NetScout Systems in the fourth quarter valued at about $462,000. Finally, PEAK6 Investments L.P. acquired a new stake in NetScout Systems in the fourth quarter valued at about $502,000.

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About NetScout Systems

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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