NetScout Systems (NASDAQ:NTCT) Downgraded by Zacks Research to Hold

Zacks Research cut shares of NetScout Systems (NASDAQ:NTCT) from a strong-buy rating to a hold rating in a report issued on Thursday,Zacks reports.

NTCT has been the topic of several other reports. Wall Street Zen raised shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded NetScout Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.00.

NetScout Systems Trading Up 3.5%

NASDAQ:NTCT opened at $40.69 on Thursday. The stock has a 50 day simple moving average of $39.01 and a 200 day simple moving average of $38.50. NetScout Systems has a 1-year low of $25.20 and a 1-year high of $45.28. The stock has a market cap of $2.96 billion, a P/E ratio of 24.81 and a beta of 0.69.

NetScout Systems (NASDAQ:NTCT) last announced its earnings results on Thursday, August 6th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.14. NetScout Systems had a net margin of 13.71% and a return on equity of 9.25%. The company had revenue of $210.42 million during the quarter, compared to analysts’ expectations of $196.17 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. NetScout Systems’s quarterly revenue was up 12.7% on a year-over-year basis. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. As a group, sell-side analysts forecast that NetScout Systems will post 2.15 EPS for the current year.

Insider Buying and Selling at NetScout Systems

In related news, EVP John Downing sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $38.41, for a total value of $307,280.00. Following the sale, the executive vice president owned 127,809 shares in the company, valued at $4,909,143.69. This represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Szabados sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $37.70, for a total value of $150,800.00. Following the completion of the transaction, the director owned 41,654 shares in the company, valued at $1,570,355.80. This represents a 8.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,269 shares of company stock valued at $813,184 over the last ninety days. 4.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NetScout Systems

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in NetScout Systems by 20.7% in the third quarter. GAMMA Investing LLC now owns 1,768 shares of the technology company’s stock worth $71,000 after acquiring an additional 303 shares during the period. Tidal Investments LLC grew its stake in NetScout Systems by 64.4% during the second quarter. Tidal Investments LLC now owns 38,940 shares of the technology company’s stock valued at $1,696,000 after acquiring an additional 15,259 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of NetScout Systems in the second quarter worth $154,000. Nykredit A S bought a new position in NetScout Systems in the 2nd quarter worth about $50,000. Finally, Corient Private Wealth LP raised its stake in NetScout Systems by 17.0% in the second quarter. Corient Private Wealth LP now owns 25,712 shares of the technology company’s stock valued at $1,120,000 after purchasing an additional 3,744 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

About NetScout Systems

NetScout Systems, Inc develops solutions that help organizations monitor, manage, and secure digital networks. Its offerings provide visibility into network traffic, application performance, user experience, and cybersecurity events across enterprise, cloud, data center, and telecommunications environments.

The company’s portfolio includes the nGenius service assurance platform, packet-based monitoring and analysis tools, network traffic management products, and cybersecurity solutions designed to detect and mitigate distributed denial-of-service attacks and other network threats.