NetSol Technologies (NASDAQ:NTWK) Stock Picked Up by Analysts at Noble Financial

Key Points

• Noble Financial initiated coverage of NetSol Technologies with an “outperform” rating and a $9.00 price target, implying 37.61% upside from the prior close.
• Weiss Ratings upgraded the stock to “buy,” giving NetSol a consensus “Buy” rating from two analysts and an average price target of $9.00.
• NetSol reported stronger-than-expected quarterly results, with EPS of $0.32 versus an $0.08 estimate and revenue of $20.72 million versus expectations of $15.10 million.

Analysts at Noble Financial began coverage on shares of NetSol Technologies (NASDAQ:NTWK - Get Free Report) in a research note issued on Wednesday, Briefing.com reports. The firm set an "outperform" rating and a $9.00 price target on the software maker's stock. Noble Financial's target price would suggest a potential upside of 37.61% from the company's previous close.

Separately, Weiss Ratings upgraded shares of NetSol Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $9.00.

NetSol Technologies Stock Performance

NTWK opened at $6.54 on Wednesday. The business has a 50 day moving average price of $4.83 and a 200 day moving average price of $4.40. NetSol Technologies has a twelve month low of $2.73 and a twelve month high of $6.68. The firm has a market cap of $78.15 million, a P/E ratio of 26.64 and a beta of 0.94.

NetSol Technologies (NASDAQ:NTWK - Get Free Report) last announced its earnings results on Monday, October 5th. The software maker reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.24. NetSol Technologies had a return on equity of 6.79% and a net margin of 4.02%. The firm had revenue of $20.72 million during the quarter, compared to analysts' expectations of $15.10 million.

Institutional Trading of NetSol Technologies

An institutional investor recently raised its stake in NetSol Technologies stock. Empowered Funds LLC raised its holdings in NetSol Technologies Inc. (NASDAQ:NTWK - Free Report) by 9.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,151 shares of the software maker's stock after buying an additional 5,624 shares during the quarter. Empowered Funds LLC owned 0.57% of NetSol Technologies worth $231,000 at the end of the most recent quarter. Institutional investors own 16.02% of the company's stock.

NetSol Technologies Company Profile

NetSol Technologies, Inc is a global provider of enterprise software and technology services focused primarily on the asset finance and leasing industry. The company develops solutions that help banks, captive finance companies, equipment manufacturers and other organizations manage lending, leasing and financing operations.

Its product portfolio includes the NFS Ascent platform, a software suite designed to support the lifecycle of asset finance transactions, including origination, credit assessment, contract management, billing, accounting and portfolio administration.

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