NetScout Systems (NASDAQ:NTCT) Posts Earnings Results, Beats Estimates By $0.02 EPS

NetScout Systems (NASDAQ:NTCTGet Rating) issued its earnings results on Thursday. The technology company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02, Briefing.com reports. NetScout Systems had a net margin of 4.32% and a return on equity of 4.66%. The company had revenue of $208.80 million for the quarter, compared to analyst estimates of $204.25 million. During the same period in the prior year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. NetScout Systems updated its FY23 guidance to $1.97-2.03 EPS and its FY 2023 guidance to $1.97-$2.03 EPS.

NetScout Systems Stock Performance

Shares of NetScout Systems stock traded down $0.68 during trading hours on Friday, reaching $33.79. The company’s stock had a trading volume of 609,414 shares, compared to its average volume of 493,583. The stock has a market cap of $2.42 billion, a P/E ratio of 67.58, a price-to-earnings-growth ratio of 5.23 and a beta of 0.60. The company’s 50 day simple moving average is $33.93 and its 200 day simple moving average is $32.73. NetScout Systems has a one year low of $26.01 and a one year high of $37.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.88 and a current ratio of 1.94.

Institutional Trading of NetScout Systems

Several hedge funds have recently bought and sold shares of NTCT. Lazard Asset Management LLC bought a new stake in NetScout Systems in the 1st quarter valued at about $48,000. Sei Investments Co. bought a new stake in NetScout Systems in the 1st quarter valued at about $224,000. Jane Street Group LLC acquired a new position in NetScout Systems during the 1st quarter valued at about $241,000. Envestnet Asset Management Inc. acquired a new position in NetScout Systems during the 2nd quarter valued at about $381,000. Finally, Guggenheim Capital LLC increased its stake in NetScout Systems by 41.3% during the 1st quarter. Guggenheim Capital LLC now owns 13,642 shares of the technology company’s stock valued at $438,000 after buying an additional 3,984 shares during the period. 93.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NTCT shares. Piper Sandler downgraded shares of NetScout Systems from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $35.00 to $33.00 in a research note on Tuesday, May 31st. StockNews.com lowered shares of NetScout Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 27th.

About NetScout Systems

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NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.

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Earnings History for NetScout Systems (NASDAQ:NTCT)

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