NetScout price target lowered to $25 from $34 at RBC Capital

RBC Capital analyst Matthew Hedberg lowered the firm’s price target on NetScout to $25 from $34 and keeps a Sector Perform rating on the shares. The analyst cites the company’s negative Q2 revenue pre-announcement and FY24 guidance cut amid slowing order conversion that started in September and is expected to impact the second half of the year. The firm adds however that it sees no real readthroughs across its coverage given the company’s largely on-premise network performance management solutions and niche aspects of security.