Needham & Company Upgrades NetScout (NTCT) to Buy; Comfortable Beat
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Price: $38.60 --0%
Rating Summary:
2 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 6 | New: 6
Rating Summary:
2 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 6 | New: 6
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Needham & Company upgraded NetScout (NASDAQ: NTCT) to Buy with a new price target of $28.00.
Analyst, Scott Zeller, said, "Q4 was a comfortable beat, but what caught our attention was the stronger than expected guidance for FY13 on license, at +15-20%. We have been on the sidelines regarding NTCT, viewing its technology as more discretionary than other areas of our coverage (cloud, virtualization, security). It appears we now may have positive growth drivers at NTCT for the next few quarters, including (a) pent up demand among banks – financials finished FY12 strongly for NTCT (b) service providers are getting more involved
in complex 4GLTE and also left over 3G projects, suggesting FY13 strength for NTCT, and (c) “regular corporate” enterprise appears to be buying after pent up demand for the last 12-18 months." (FY12 EPS estimate raised from $1.22 to $1.28)
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 $20.48 yesterday.
Analyst, Scott Zeller, said, "Q4 was a comfortable beat, but what caught our attention was the stronger than expected guidance for FY13 on license, at +15-20%. We have been on the sidelines regarding NTCT, viewing its technology as more discretionary than other areas of our coverage (cloud, virtualization, security). It appears we now may have positive growth drivers at NTCT for the next few quarters, including (a) pent up demand among banks – financials finished FY12 strongly for NTCT (b) service providers are getting more involved
in complex 4GLTE and also left over 3G projects, suggesting FY13 strength for NTCT, and (c) “regular corporate” enterprise appears to be buying after pent up demand for the last 12-18 months." (FY12 EPS estimate raised from $1.22 to $1.28)
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 $20.48 yesterday.
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