Kaufman Raises Price Target on NetScout (NTCT) Long-Term Outlook Remains on Track
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Price: $38.49 +1.18%
Rating Summary:
2 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Kaufman Bros. is maintaining its Hold rating on shares of NetScout (NASDAQ: NTCT) and is raising its price target from $15 to $19 following the release of its third quarter results.
The company reported non-GAAP earnings of $0.35 per share on 9 percent sales growth.
An analyst at the firm comments, "We believe the overall long-term secular trend for service delivery management remains solid. Business bookings were down sequentially, but up 4% Y/Y. Despite lower sequential bookings, deferred revenue increased by $5 million. Financial services continues to be a drag on enterprise bookings with some modest expectations for improvement this year. Government spending remains unpredictable."
Kaufman lowered its FY12 and FY13 EPS estimates from $1.12 and $1.24 to $1.08 and $1.22.
For an analyst ratings summary and ratings history on NetScout click here. For more ratings news on NetScout click here.
Shares of NetScout closed at $19.92 yesterday.
The company reported non-GAAP earnings of $0.35 per share on 9 percent sales growth.
An analyst at the firm comments, "We believe the overall long-term secular trend for service delivery management remains solid. Business bookings were down sequentially, but up 4% Y/Y. Despite lower sequential bookings, deferred revenue increased by $5 million. Financial services continues to be a drag on enterprise bookings with some modest expectations for improvement this year. Government spending remains unpredictable."
Kaufman lowered its FY12 and FY13 EPS estimates from $1.12 and $1.24 to $1.08 and $1.22.
For an analyst ratings summary and ratings history on NetScout click here. For more ratings news on NetScout click here.
Shares of NetScout closed at $19.92 yesterday.
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