Piper Sandler downgrades NetScout Systems to 'underweight'

NetScout Systems

31/05/2022 09:34

** Piper Sandler downgrades cybersecurity solutions provider
NetScout Systems Inc  NTCT.O  to "underweight" from "neutral"
    ** Says it sees multiple risks to the management's product
growth, such as worsening supply chain issues, pull-in orders,
and economic sensitivity in a downturn scenario
    ** "Management has a long-history of overpromising initial
guides, with not one year in which NetScout exceeded the
high-end, meaning likely limited upside" - Piper Sandler
    ** Brokerage also cuts PT to $33 from $35
    ** Three of four brokerages rate the stock "hold" and one
"sell"; their median PT is $35.50 - Refinitiv
    ** Shares up ~14% this year, as of last close

 (Reporting by Subhadeep Chakravarty in Bengaluru)
 ((subhadeep.chakravarty@thomsonreuters.com))