NetScout Systems (NASDAQ:NTCT) Announces Quarterly Earnings Results

NetScout Systems (NASDAQ:NTCTGet Rating) posted 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, 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 last year, the business posted $0.05 earnings per share. The business’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 Down 2.0 %

Shares of NetScout Systems stock traded down $0.68 during trading on Friday, reaching $33.79. The stock had a trading volume of 609,414 shares, compared to its average volume of 493,583. The company has a current ratio of 1.94, a quick ratio of 1.88 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 67.58, a P/E/G ratio of 5.23 and a beta of 0.60. The stock has a fifty day moving average price of $33.93 and a two-hundred day moving average price of $32.73. NetScout Systems has a 52 week low of $26.01 and a 52 week high of $37.68.

Institutional Investors Weigh In On NetScout Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. bought a new position in shares of NetScout Systems during the 2nd quarter worth approximately $381,000. BNP Paribas Arbitrage SA grew its position in NetScout Systems by 3.5% in the first quarter. BNP Paribas Arbitrage SA now owns 179,087 shares of the technology company’s stock valued at $5,745,000 after purchasing an additional 6,034 shares in the last quarter. Keeley Teton Advisors LLC acquired a new stake in NetScout Systems in the 1st quarter valued at $1,418,000. Jane Street Group LLC bought a new stake in NetScout Systems during the 1st quarter worth about $241,000. Finally, Guggenheim Capital LLC grew its holdings in shares of NetScout Systems by 41.3% in the 1st quarter. Guggenheim Capital LLC now owns 13,642 shares of the technology company’s stock valued at $438,000 after acquiring an additional 3,984 shares in the last quarter. Institutional investors and hedge funds own 93.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Friday. Piper Sandler cut NetScout Systems from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $35.00 to $33.00 in a report on Tuesday, May 31st.

NetScout Systems Company Profile

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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.

Further Reading

Earnings History for NetScout Systems (NASDAQ:NTCT)

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