NetScout Systems (NASDAQ:NTCT) Sets New 52-Week High – Still a Buy?

Shares of NetScout Systems, Inc. (NASDAQ:NTCT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $44.22 and last traded at $44.2620, with a volume of 73145 shares changing hands. The stock had previously closed at $43.00.

Analysts Set New Price Targets

NTCT has been the subject of several recent research reports. Zacks Research cut NetScout Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Wall Street Zen raised NetScout Systems from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Royal Bank Of Canada raised their target price on NetScout Systems from $29.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings lowered NetScout Systems from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to MarketBeat, NetScout Systems has an average rating of “Moderate Buy” and a consensus target price of $35.50.

NetScout Systems Trading Down 2.6%

The company’s fifty day simple moving average is $40.57 and its 200 day simple moving average is $33.52. The stock has a market capitalization of $3.12 billion, a P/E ratio of 33.60 and a beta of 0.68.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.06. The firm had revenue of $203.03 million for the quarter, compared to analysts’ expectations of $198.64 million. NetScout Systems had a net margin of 11.11% and a return on equity of 8.37%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. Equities research analysts predict that NetScout Systems, Inc. will post 2.06 earnings per share for the current year.

Insider Transactions at NetScout Systems

In other news, EVP John Downing sold 8,000 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $40.29, for a total transaction of $322,320.00. Following the completion of the transaction, the executive vice president owned 129,121 shares of the company’s stock, valued at approximately $5,202,285.09. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Alfred Grasso sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $40.67, for a total transaction of $203,350.00. Following the completion of the transaction, the director owned 35,000 shares in the company, valued at approximately $1,423,450. This trade represents a 12.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NetScout Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of NTCT. Royal Bank of Canada raised its position in shares of NetScout Systems by 23.3% during the 1st quarter. Royal Bank of Canada now owns 51,798 shares of the technology company’s stock valued at $1,088,000 after buying an additional 9,802 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NetScout Systems by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,377 shares of the technology company’s stock worth $869,000 after acquiring an additional 2,036 shares in the last quarter. Goldman Sachs Group Inc. grew its position in NetScout Systems by 17.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,420,479 shares of the technology company’s stock worth $29,844,000 after acquiring an additional 207,807 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NetScout Systems by 7.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,284 shares of the technology company’s stock valued at $4,481,000 after acquiring an additional 15,112 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in NetScout Systems by 64.3% in the first quarter. Jane Street Group LLC now owns 348,209 shares of the technology company’s stock valued at $7,316,000 after acquiring an additional 136,253 shares during the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

About NetScout Systems

NetScout Systems, Inc is a leading provider of network performance management, service assurance and cybersecurity solutions. The company designs and delivers hardware and software platforms that capture and analyze real-time and historical packet data, enabling IT teams and service providers to monitor application performance, troubleshoot network issues and defend against distributed denial-of-service (DDoS) attacks. NetScout’s flagship offerings include the nGeniusONE service assurance platform and the InfiniStream packet broker, which together provide end-to-end visibility across hybrid and multi-cloud environments.

Founded in 1984 and headquartered in Westford, Massachusetts, NetScout has built a reputation for scalable and resilient monitoring infrastructure.