Other research analysts also recently issued reports about the company. DA Davidson downgraded NetScout Systems from a buy rating to a neutral rating and dropped their price objective for the company from $37.00 to $27.00 in a research note on Wednesday, January 10th. Craig Hallum set a $23.00 target price on NetScout Systems and gave the company a hold rating in a research report on Wednesday, January 10th. Royal Bank of Canada reaffirmed a hold rating on shares of NetScout Systems in a research report on Tuesday, January 30th. B. Riley boosted their target price on NetScout Systems from $28.50 to $30.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Finally, BidaskClub lowered NetScout Systems from a sell rating to a strong sell rating in a research report on Saturday, January 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. NetScout Systems currently has an average rating of Hold and a consensus target price of $29.00.
NetScout Systems (NASDAQ NTCT) opened at $26.85 on Monday. The stock has a market capitalization of $2,364.94, a PE ratio of 27.97, a PEG ratio of 2.60 and a beta of 1.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.70 and a quick ratio of 1.61. NetScout Systems has a 52 week low of $25.50 and a 52 week high of $38.47.
NetScout Systems announced that its Board of Directors has approved a share repurchase plan on Thursday, October 26th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider John Downing sold 3,000 shares of the business’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 completion of the sale, the insider now directly owns 47,427 shares of the company’s stock, valued at approximately $1,337,441.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.51% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Flinton Capital Management LLC increased its holdings in NetScout Systems by 74.5% during the 2nd quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,968 shares in the last quarter. Stevens Capital Management LP bought a new stake in NetScout Systems during the 3rd quarter worth approximately $206,000. Shelton Capital Management bought a new stake in NetScout Systems during the 2nd quarter worth approximately $237,000. Suntrust Banks Inc. bought a new stake in NetScout Systems during the 4th quarter worth approximately $214,000. Finally, Verition Fund Management LLC bought a new stake in NetScout Systems during the 2nd quarter worth approximately $248,000.
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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.
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