Noble Financial Initiates Coverage on NetSol Technologies (NASDAQ:NTWK)

Noble Financial started coverage on shares of NetSol Technologies (NASDAQ:NTWK) in a research note issued on Friday, Zacks reports. The brokerage set a “strong-buy” rating on the software maker’s stock.

Several other analysts have also recently weighed in on NTWK. Wall Street Zen cut NetSol Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings upgraded NetSol Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Finally, Zacks Research raised NetSol Technologies to a “hold” rating in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.00.

NetSol Technologies Trading Down 4.9%

Shares of NetSol Technologies stock traded down $0.26 during trading on Friday, hitting $5.02. The stock had a trading volume of 214,194 shares, compared to its average volume of 166,780. NetSol Technologies has a 12 month low of $2.80 and a 12 month high of $8.46. The firm has a market cap of $59.99 million, a price-to-earnings ratio of 10.91 and a beta of 0.91. The business’s 50-day moving average is $5.93 and its 200 day moving average is $4.44.

NetSol Technologies (NASDAQ:NTWK) last posted its quarterly earnings data on Thursday, November 12th. The software maker reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. NetSol Technologies had a return on equity of 12.18% and a net margin of 7.27%. The company had revenue of $16.41 million during the quarter, compared to analyst estimates of $16.51 million. As a group, equities analysts expect that NetSol Technologies will post 0.43 EPS for the current year.

Institutional Investors Weigh In On NetSol Technologies

An institutional investor recently bought a new position in NetSol Technologies stock. SBI Securities Co. Ltd. purchased a new position in shares of NetSol Technologies Inc. (NASDAQ:NTWK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 as of its most recent SEC filing. 16.02% of the stock is owned by hedge funds and other institutional investors.

NetSol Technologies Company Profile

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.