NetScout Systems (NASDAQ:NTCT) declared that its board has authorized a stock buyback program, which allows the company to buyback 25,000,000 outstanding shares on Thursday, October 26th, EventVestor reports. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Shares of NetScout Systems (NASDAQ NTCT) opened at 28.40 on Wednesday. The stock has a 50 day moving average price of $31.89 and a 200-day moving average price of $34.09. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 144.16 and a beta of 1.60. NetScout Systems has a one year low of $27.20 and a one year high of $38.47.
NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The firm had revenue of $256.90 million during the quarter, compared to the consensus estimate of $251.13 million. During the same period last year, the business posted $0.39 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts expect that NetScout Systems will post $1.98 EPS for the current year.
Several research analysts have weighed in on the company. B. Riley reiterated a “buy” rating and set a $44.00 target price on shares of NetScout Systems in a report on Friday, July 28th. Zacks Investment Research lowered NetScout Systems from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub upgraded NetScout Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “hold” rating on shares of NetScout Systems in a report on Thursday, July 20th. Finally, Craig Hallum reduced their target price on NetScout Systems from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.
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.
What are top analysts saying about NetScout Systems Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for NetScout Systems Inc. and related companies.