NetScout Systems (NTCT) Trading Down 13.6% on Analyst Downgrade

NetScout Systems, Inc. (NASDAQ:NTCT) shares fell 13.6% on Thursday after BidaskClub downgraded the stock from a sell rating to a strong sell rating. The company traded as low as $26.00 and last traded at $26.27. 8,313,300 shares were traded during mid-day trading, an increase of 398% from the average session volume of 1,670,757 shares. The stock had previously closed at $30.40.

A number of other research analysts have also weighed in on NTCT. Piper Jaffray Companies set a $30.00 price objective on shares of NetScout Systems and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada reduced their price target on shares of NetScout Systems to $27.00 and set a “sector perform” rating for the company in a research report on Thursday. Craig Hallum set a $23.00 price target on shares of NetScout Systems and gave the company a “hold” rating in a research report on Wednesday. DA Davidson lowered shares of NetScout Systems from a “buy” rating to a “neutral” rating and reduced their price target for the company from $37.00 to $27.00 in a research report on Wednesday. Finally, KeyCorp restated a “hold” rating on shares of NetScout Systems in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $29.67.

In other news, insider Michael Szabados sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $28.19, for a total transaction of $140,950.00. Following the completion of the transaction, the insider now directly owns 43,424 shares in the company, valued at approximately $1,224,122.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Downing sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $28.17, for a total transaction of $84,510.00. Following the transaction, the executive vice president now owns 88,821 shares of the company’s stock, valued at $2,502,087.57. The disclosure for this sale can be found here. 3.51% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of NetScout Systems by 0.5% during the 2nd quarter. Amalgamated Bank now owns 12,678 shares of the technology company’s stock worth $436,000 after acquiring an additional 59 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of NetScout Systems by 2.3% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 16,187 shares of the technology company’s stock worth $360,000 after acquiring an additional 369 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of NetScout Systems by 7.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 18,510 shares of the technology company’s stock worth $637,000 after acquiring an additional 1,260 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of NetScout Systems by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 200,344 shares of the technology company’s stock worth $6,892,000 after acquiring an additional 1,360 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of NetScout Systems by 3.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 52,519 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 1,932 shares during the last quarter.

The company has a quick ratio of 1.51, a current ratio of 1.60 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2,260.00, a price-to-earnings ratio of 153.06, a PEG ratio of 1.87 and a beta of 1.60.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. NetScout Systems had a negative net margin of 0.96% and a negative return on equity of 0.44%. The company had revenue of $256.90 million during the quarter, compared to the consensus estimate of $251.13 million. During the same period in the previous year, the firm posted $0.39 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. research analysts predict that NetScout Systems, Inc. will post 1.59 EPS for the current fiscal year.

NetScout Systems announced that its board has initiated a share repurchase program on Thursday, October 26th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is 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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