Piper Jaffray Companies set a $30.00 price objective on NetScout Systems (NASDAQ:NTCT) in a research report released on Thursday. The firm currently has a buy rating on the technology company’s stock.

NTCT has been the subject of several other reports. Zacks Investment Research lowered NetScout Systems from a buy rating to a sell rating in a research report on Thursday, November 2nd. KeyCorp reiterated a hold rating on shares of NetScout Systems in a research report on Wednesday, October 11th. BidaskClub lowered NetScout Systems from a hold rating to a sell rating in a research report on Saturday, January 6th. Craig Hallum decreased their price objective on NetScout Systems from $30.00 to $28.00 and set a hold rating for the company in a research report on Thursday, October 26th. Finally, Royal Bank of Canada reiterated a hold rating and issued a $33.00 price objective on shares of NetScout Systems in a research report on Friday, October 27th. One 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 stock. NetScout Systems presently has a consensus rating of Hold and a consensus price target of $29.67.

Shares of NetScout Systems (NTCT) traded up $1.60 on Thursday, hitting $27.55. The company had a trading volume of 3,564,900 shares, compared to its average volume of 2,007,978. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.60 and a quick ratio of 1.51. NetScout Systems has a 1-year low of $25.75 and a 1-year high of $38.47. The firm has a market cap of $2,400.73, a price-to-earnings ratio of 162.07, a PEG ratio of 1.86 and a beta of 1.60.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $256.90 million during the quarter, compared to analyst estimates of $251.13 million. During the same period in the previous year, the firm earned $0.39 EPS. NetScout Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. research analysts anticipate that NetScout Systems will post 1.48 EPS for the current fiscal year.

NetScout Systems declared that its board has authorized a share repurchase program on Thursday, October 26th that permits the company to buyback 25,000,000 shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other NetScout Systems news, EVP John Downing sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $28.17, for a total transaction of $84,510.00. Following the completion of the transaction, the executive vice president now owns 88,821 shares of the company’s stock, valued at approximately $2,502,087.57. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Szabados sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $28.19, for a total value of $140,950.00. Following the transaction, the insider now directly owns 43,424 shares of the company’s stock, valued at approximately $1,224,122.56. The disclosure for this sale can be found here. Corporate insiders own 3.51% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in NTCT. Russell Investments Group Ltd. acquired a new position in NetScout Systems during the 2nd quarter worth approximately $628,000. Schwab Charles Investment Management Inc. boosted its position in NetScout Systems by 8.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 463,797 shares of the technology company’s stock worth $15,955,000 after acquiring an additional 35,417 shares during the last quarter. Legal & General Group Plc boosted its position in NetScout Systems by 25.4% during the 2nd quarter. Legal & General Group Plc now owns 77,085 shares of the technology company’s stock worth $2,656,000 after acquiring an additional 15,608 shares during the last quarter. Prudential Financial Inc. boosted its position in NetScout Systems by 53.1% during the 2nd quarter. Prudential Financial Inc. now owns 93,036 shares of the technology company’s stock worth $3,201,000 after acquiring an additional 32,270 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in NetScout Systems by 5.3% during the 2nd quarter. Principal Financial Group Inc. now owns 390,283 shares of the technology company’s stock worth $13,425,000 after acquiring an additional 19,775 shares during the last quarter.

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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.

Analyst Recommendations for NetScout Systems (NASDAQ:NTCT)

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