NetSol Technologies (NASDAQ:NTWK) Now Covered by Analysts at Noble Financial

Key Points

• Noble Financial initiated coverage of NetSol Technologies with a “strong-buy” rating; the broader analyst consensus is “Buy,” with a $9.00 target price.
• Shares fell 4.9% Friday to $5.02. The company’s latest quarterly earnings matched estimates at $0.01 per share, while revenue of $16.41 million came in slightly below forecasts.
• SBI Securities disclosed a new position of 9,500 shares, valued at about $52,000; institutional investors collectively own 16.02% of the stock.

Analysts at Noble Financial started coverage on shares of NetSol Technologies (NASDAQ:NTWK - Get Free Report) in a report issued on Friday, Zacks reports. The firm set a "strong-buy" rating on the software maker's stock.

A number of other analysts also recently weighed in on the stock. Weiss Ratings raised shares of NetSol Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 14th. Zacks Research raised shares of NetSol Technologies to a "hold" rating in a research note on Thursday, October 22nd. Finally, Wall Street Zen downgraded shares of NetSol Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $9.00.

NetSol Technologies Stock Down 4.9%

Shares of NTWK traded down $0.26 during trading hours on Friday, hitting $5.02. 214,194 shares of the company were exchanged, compared to its average volume of 166,780. The company has a market cap of $59.99 million, a price-to-earnings ratio of 10.91 and a beta of 0.91. NetSol Technologies has a fifty-two week low of $2.80 and a fifty-two week high of $8.46. The firm's fifty day moving average is $5.93 and its 200 day moving average is $4.44.

NetSol Technologies (NASDAQ:NTWK - Get Free Report) last released its earnings results on Thursday, November 12th. The software maker reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. NetSol Technologies had a net margin of 7.27% and a return on equity of 12.18%. The firm had revenue of $16.41 million for the quarter, compared to analyst estimates of $16.51 million. Analysts anticipate that NetSol Technologies will post 0.43 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NetSol Technologies stock. SBI Securities Co. Ltd. bought a new position in NetSol Technologies Inc. (NASDAQ:NTWK - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,500 shares of the software maker's stock, valued at approximately $52,000. SBI Securities Co. Ltd. owned about 0.08% of NetSol Technologies at the end of the most recent quarter. 16.02% of the stock is owned by hedge funds and other institutional investors.

About NetSol Technologies

NetSol Technologies, Inc. develops enterprise software and provides technology services, primarily for the global asset finance and leasing industry. Its customers include businesses that finance vehicles, equipment and other assets. The company's offerings include the NFS Ascent platform, which supports finance and leasing operations such as loan and lease origination, contract management and servicing. NetSol also provides software implementation, consulting and related technology services. Founded in 1997, NetSol serves clients across North America, Europe and Asia-Pacific, among other markets.

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