Royal Bank of Canada Forecasts Strong Price Appreciation for NetScout Systems (NASDAQ:NTCT) Stock

NetScout Systems (NASDAQ:NTCT) had its price target boosted by investment analysts at Royal Bank of Canada from $22.00 to $25.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 4.44% from the company’s current price.

Separately, StockNews.com raised NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th.

NetScout Systems Price Performance

NASDAQ NTCT traded down $1.12 during trading hours on Friday, reaching $23.94. The company’s stock had a trading volume of 323,209 shares, compared to its average volume of 387,462. The firm’s 50-day moving average price is $22.15 and its 200-day moving average price is $21.09. The company has a quick ratio of 1.63, a current ratio of 1.68 and a debt-to-equity ratio of 0.05. NetScout Systems has a 1 year low of $17.10 and a 1 year high of $27.89. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -2.86 and a beta of 0.58.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. NetScout Systems had a positive return on equity of 5.31% and a negative net margin of 76.14%. On average, equities research analysts predict that NetScout Systems will post 1.6 EPS for the current fiscal year.

Institutional Trading of NetScout Systems

Several hedge funds have recently modified their holdings of NTCT. American Century Companies Inc. purchased a new stake in shares of NetScout Systems during the 2nd quarter worth approximately $287,000. Sei Investments Co. purchased a new stake in shares of NetScout Systems during the 2nd quarter worth approximately $966,000. Squarepoint Ops LLC purchased a new stake in shares of NetScout Systems during the 2nd quarter worth approximately $1,501,000. Millennium Management LLC increased its position in shares of NetScout Systems by 375.3% during the 2nd quarter. Millennium Management LLC now owns 1,100,485 shares of the technology company’s stock valued at $20,128,000 after purchasing an additional 868,955 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of NetScout Systems by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,731 shares of the technology company’s stock valued at $635,000 after purchasing an additional 1,084 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

About NetScout Systems

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.