Zacks Research Upgrades NetSol Technologies (NASDAQ:NTWK) to "Hold"

Key Points

• Zacks Research upgraded NetSol Technologies to “Hold”, while the broader analyst consensus remains “Moderate Buy,” with an average price target of $9.00.
• NetSol reported a strong quarter, posting EPS of $0.32 versus the $0.08 estimate and revenue of $20.72 million, above the $15.10 million consensus forecast.
• NTWK shares opened at $7.86, near their 12-month high of $8.20, and the company has a market capitalization of approximately $93.9 million; institutional investors own 16.02% of the stock.

NetSol Technologies (NASDAQ:NTWK - Get Free Report) was upgraded by equities researchers at Zacks Research to a "hold" rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other equities research analysts have also issued reports on NTWK. Noble Financial initiated coverage on NetSol Technologies in a research note on Wednesday. They issued an "outperform" rating and a $9.00 target price on the stock. Weiss Ratings raised NetSol Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.00.

NetSol Technologies Price Performance

Shares of NASDAQ NTWK opened at $7.86 on Thursday. NetSol Technologies has a 12-month low of $2.73 and a 12-month high of $8.20. The company has a market capitalization of $93.93 million, a PE ratio of 31.00 and a beta of 0.94. The firm's 50-day moving average is $5.03 and its two-hundred day moving average is $4.48.

NetSol Technologies (NASDAQ:NTWK - Get Free Report) last issued its quarterly earnings data on Monday, October 5th. The software maker reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.24. NetSol Technologies had a net margin of 4.02% and a return on equity of 6.79%. The business had revenue of $20.72 million during the quarter, compared to analysts' expectations of $15.10 million. On average, analysts forecast that NetSol Technologies will post 0.43 EPS for the current fiscal year.

Institutional Trading of NetSol Technologies

An institutional investor recently bought a new stake in NetSol Technologies stock. SBI Securities Co. Ltd. acquired a new stake in shares of NetSol Technologies Inc. (NASDAQ:NTWK - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 reporting period. 16.02% of the stock is owned by institutional investors.

About NetSol Technologies

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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