NetScout Systems (NASDAQ:NTCT) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of NetScout Systems (NASDAQ:NTCT) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

NTCT has been the subject of several other research reports. Royal Bank Of Canada raised their target price on NetScout Systems from $29.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Weiss Ratings lowered NetScout Systems from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded NetScout Systems from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, NetScout Systems has an average rating of “Buy” and a consensus price target of $35.50.

NetScout Systems Price Performance

NASDAQ NTCT opened at $41.13 on Tuesday. The business has a 50 day simple moving average of $34.68 and a 200 day simple moving average of $30.34. NetScout Systems has a one year low of $20.39 and a one year high of $42.37. The stock has a market capitalization of $2.94 billion, a P/E ratio of 31.64 and a beta of 0.61.

NetScout Systems (NASDAQ:NTCT) last released its earnings results on Thursday, May 7th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.46 by $0.06. NetScout Systems had a return on equity of 8.37% and a net margin of 11.11%.The business had revenue of $203.04 million during the quarter, compared to analysts’ expectations of $198.64 million. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. Equities analysts expect that NetScout Systems will post 2.06 earnings per share for the current year.

Insider Buying and Selling

In other NetScout Systems news, Director Alfred Grasso sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $40.67, for a total transaction of $203,350.00. Following the transaction, the director owned 35,000 shares of the company’s stock, valued at approximately $1,423,450. This trade represents a 12.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.82% of the company’s stock.

Hedge Funds Weigh In On NetScout Systems

Hedge funds have recently made changes to their positions in the business. CIBC Bancorp USA Inc. acquired a new position in shares of NetScout Systems in the 3rd quarter worth approximately $118,440,000. JPMorgan Chase & Co. grew its stake in shares of NetScout Systems by 65.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 343,551 shares of the technology company’s stock worth $8,874,000 after purchasing an additional 136,377 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of NetScout Systems by 93.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 119,363 shares of the technology company’s stock worth $3,205,000 after purchasing an additional 57,602 shares during the last quarter. AlphaQuest LLC grew its stake in shares of NetScout Systems by 604.8% in the 3rd quarter. AlphaQuest LLC now owns 50,255 shares of the technology company’s stock worth $1,298,000 after purchasing an additional 43,125 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of NetScout Systems by 2,546.1% in the 4th quarter. SG Americas Securities LLC now owns 449,737 shares of the technology company’s stock worth $12,170,000 after purchasing an additional 432,741 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

About NetScout Systems

NetScout Systems, Inc is a leading provider of network performance management, service assurance and cybersecurity solutions. The company designs and delivers hardware and software platforms that capture and analyze real-time and historical packet data, enabling IT teams and service providers to monitor application performance, troubleshoot network issues and defend against distributed denial-of-service (DDoS) attacks. NetScout’s flagship offerings include the nGeniusONE service assurance platform and the InfiniStream packet broker, which together provide end-to-end visibility across hybrid and multi-cloud environments.

Founded in 1984 and headquartered in Westford, Massachusetts, NetScout has built a reputation for scalable and resilient monitoring infrastructure.