NetScout Systems (NASDAQ:NTCT) Stock Price Down 4% - Here's Why

Shares of NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report) fell 4% during trading on Friday . The stock traded as low as $23.68 and last traded at $24.06. 34,506 shares were traded during mid-day trading, a decline of 91% from the average session volume of 372,879 shares. The stock had previously closed at $25.06.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of NetScout Systems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, December 10th. Royal Bank of Canada upped their price objective on shares of NetScout Systems from $22.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday.

NetScout Systems Price Performance

The company has a market capitalization of $1.73 billion, a PE ratio of -4.12 and a beta of 0.60. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 0.05. The firm's 50-day moving average is $22.23 and its 200-day moving average is $21.19.

NetScout Systems (NASDAQ:NTCT - Get Free Report) last released its earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. NetScout Systems had a positive return on equity of 6.76% and a negative net margin of 50.90%. Equities analysts predict that NetScout Systems, Inc. will post 1.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NetScout Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP raised its holdings in NetScout Systems by 316.8% in the 3rd quarter. Quarry LP now owns 1,513 shares of the technology company's stock worth $33,000 after purchasing an additional 1,150 shares in the last quarter. FMR LLC increased its holdings in NetScout Systems by 32.1% in the 3rd quarter. FMR LLC now owns 1,964 shares of the technology company's stock worth $43,000 after buying an additional 477 shares in the last quarter. KBC Group NV raised its position in NetScout Systems by 52.4% in the 3rd quarter. KBC Group NV now owns 3,100 shares of the technology company's stock worth $67,000 after buying an additional 1,066 shares during the last quarter. Covestor Ltd lifted its position in NetScout Systems by 25.7% during the third quarter. Covestor Ltd now owns 3,606 shares of the technology company's stock valued at $78,000 after purchasing an additional 737 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in NetScout Systems by 203.8% in the third quarter. Meeder Asset Management Inc. now owns 6,338 shares of the technology company's stock worth $138,000 after purchasing an additional 4,252 shares during the last quarter. Institutional investors own 91.64% of the company's stock.

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.