NetScout Systems (NASDAQ:NTCT) Stock Price Down 8.9%

NetScout Systems, Inc. (NASDAQ:NTCT)’s share price fell 8.9% on Thursday . The company traded as low as $23.28 and last traded at $23.71, 820,305 shares changed hands during mid-day trading. An increase of 99% from the average session volume of 411,672 shares. The stock had previously closed at $26.04.

A number of research firms recently weighed in on NTCT. BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. Piper Jaffray Companies downgraded NetScout Systems from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $31.00 to $30.00 in a research report on Wednesday, April 10th. ValuEngine downgraded NetScout Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research upgraded NetScout Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $29.00.

The stock has a 50-day simple moving average of $25.57. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.98 billion, a P/E ratio of 28.48, a PEG ratio of 2.82 and a beta of 1.32.

NetScout Systems (NASDAQ:NTCT) last posted its earnings results on Thursday, August 1st. The technology company reported $0.07 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.07. The company had revenue of $186.10 million for the quarter, compared to the consensus estimate of $196.98 million. NetScout Systems had a positive return on equity of 3.16% and a negative net margin of 8.06%. NetScout Systems’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, equities analysts forecast that NetScout Systems, Inc. will post 0.93 EPS for the current fiscal year.

In other NetScout Systems news, 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 transaction of $79,230.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider now owns 37,403 shares in the company, valued at $1,051,024.30. The disclosure for this sale can be found here. 4.06% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. HAP Trading LLC purchased a new stake in shares of NetScout Systems in the first quarter valued at $517,000. Bank of America Corp DE lifted its position in shares of NetScout Systems by 8.1% in the fourth quarter. Bank of America Corp DE now owns 654,784 shares of the technology company’s stock valued at $15,473,000 after acquiring an additional 49,235 shares in the last quarter. Mason Street Advisors LLC lifted its position in shares of NetScout Systems by 1.7% in the first quarter. Mason Street Advisors LLC now owns 37,250 shares of the technology company’s stock valued at $1,046,000 after acquiring an additional 618 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NetScout Systems by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 833,247 shares of the technology company’s stock valued at $19,689,000 after acquiring an additional 25,915 shares in the last quarter. Finally, Boston Partners lifted its position in shares of NetScout Systems by 32.4% in the first quarter. Boston Partners now owns 391,440 shares of the technology company’s stock valued at $10,988,000 after acquiring an additional 95,710 shares in the last quarter.

NetScout Systems Company Profile (NASDAQ:NTCT)

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.

Further Reading: Buy-Side Analysts

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