NetSol Technologies (NASDAQ:NTWK) Downgraded by Wall Street Zen to “Buy”

NetSol Technologies (NASDAQ:NTWK) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other brokerages have also commented on NTWK. Noble Financial started coverage on NetSol Technologies in a report on Wednesday, October 21st. They issued an “outperform” rating and a $9.00 price objective on the stock. Weiss Ratings raised NetSol Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Finally, Zacks Research upgraded shares of NetSol Technologies to a “hold” rating in a research note on Thursday, October 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, NetSol Technologies has a consensus rating of “Moderate Buy” and an average target price of $9.00.

NetSol Technologies Stock Down 4.9%

Shares of NASDAQ:NTWK opened at $5.02 on Friday. NetSol Technologies has a 12-month low of $2.80 and a 12-month high of $8.46. The business has a 50 day moving average of $5.93 and a 200-day moving average of $4.44. The stock has a market cap of $59.99 million, a PE ratio of 11.49 and a beta of 0.91.

NetSol Technologies (NASDAQ:NTWK) last announced its earnings results on Thursday, November 12th. The software maker reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $16.41 million for the quarter, compared to analyst estimates of $16.51 million. NetSol Technologies had a return on equity of 12.18% and a net margin of 7.27%. Equities research analysts expect that NetSol Technologies will post 0.43 earnings per share for the current year.

Institutional Trading of NetSol Technologies

An institutional investor recently bought a new position in NetSol Technologies stock. SBI Securities Co. Ltd. purchased a new position in shares of NetSol Technologies Inc. (NASDAQ:NTWK) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,500 shares of the software maker’s stock, valued at approximately $52,000. SBI Securities Co. Ltd. owned approximately 0.08% of NetSol Technologies as of its most recent filing with the SEC. 16.02% of the stock is currently owned by institutional investors and hedge funds.

NetSol Technologies Company Profile

NetSol Technologies, Inc. is a global provider of enterprise software and information technology services, with a primary focus on the asset finance and leasing industry. The company serves vehicle manufacturers, banks, financial institutions, equipment lessors and other organizations that manage commercial lending, leasing and financing operations. Its software offerings are designed to support the full lifecycle of financing transactions, including origination, credit and contract management, billing, accounting, asset management, collections and portfolio administration.