NetScout Systems (NTCT) is Initiated by Pacific Crest to Overweight, Price Target at $31

NetScout Systems (NTCT) was Initiated by Pacific Crest to “Overweight” and the brokerage firm has set the Price Target at $31. Pacific Crest advised their investors in a research report released on Jul 28, 2016.

On the company’s financial health, NetScout Systems reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.25. The company had revenue of $269.00 million for the quarter, compared to analysts expectations of $269.33 million. The company’s revenue was up 167.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

NetScout Systems opened for trading at $27 and hit $28.34 on the upside on Thursday, eventually ending the session at $27.47, with a gain of 7.64% or 1.95 points. The heightened volatility saw the trading volume jump to 16,66,483 shares. Company has a market cap of $2,576 M.

In a different news, on May 11, 2016, Michael Szabados (Chief Operating Officer) sold 5,000 shares at $23.08 per share price. According to the SEC, on Feb 1, 2016, Vincent J Mullarkey (director) sold 16,000 shares at $22.16 per share price. On Sep 2, 2015, Victor Demarines (director) sold 11,000 shares at $35.57 per share price, according to the Form-4 filing with the securities and exchange commission.

NetScout Systems Inc. is a provider of network application and service assurance solutions. The Company provides performance analytics that help enterprise government and service provider customers manage service delivery and identify emerging performance problems. The Company designs develops manufactures markets licenses sells and supports the products in hardware and software solutions that are used by commercial enterprises governmental agencies and telecommunication service providers. The Company has three primary customer groups; enterprise customers service provider customers and government customers. The Company’s products include nGeniusONE Service Assurance Solution nGenius Intelligent Data Sources nGenius Packet Flow Switches and Taps NetScout Test Optimization Products and nGenius NetFlow Solutions.

NetScout Systems

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