NetScout Systems (NASDAQ:NTCT) Releases FY23 Earnings Guidance

NetScout Systems (NASDAQ:NTCTGet Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.97-2.03 for the period, compared to the consensus estimate of $2.00. The company issued revenue guidance of $895-925 million, compared to the consensus revenue estimate of $908.65 million. NetScout Systems also updated its FY 2023 guidance to $1.97-$2.03 EPS.

NetScout Systems Stock Down 2.0 %

Shares of NTCT traded down $0.68 during midday trading on Friday, hitting $33.79. The stock had a trading volume of 609,414 shares, compared to its average volume of 612,610. The company has a 50 day simple moving average of $33.93 and a two-hundred day simple moving average of $32.73. NetScout Systems has a twelve month low of $26.01 and a twelve month high of $37.68. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 61.44, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.36 and a quick ratio of 1.88.

NetScout Systems (NASDAQ:NTCTGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $208.80 million during the quarter, compared to analysts’ expectations of $204.25 million. NetScout Systems had a return on equity of 4.85% and a net margin of 4.71%. NetScout Systems’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. On average, analysts anticipate that NetScout Systems will post 1.35 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on NTCT. StockNews.com 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 reduced their price target for the stock from $35.00 to $33.00 in a report on Tuesday, May 31st.

Institutional Investors Weigh In On NetScout Systems

A number of institutional investors have recently made changes to their positions in NTCT. Lazard Asset Management LLC bought a new position in shares of NetScout Systems in the first quarter worth $48,000. Sei Investments Co. acquired a new stake in NetScout Systems in the first quarter valued at about $224,000. Jane Street Group LLC acquired a new stake in shares of NetScout Systems during the first quarter valued at about $241,000. Envestnet Asset Management Inc. acquired a new stake in shares of NetScout Systems during the second quarter valued at about $381,000. Finally, Guggenheim Capital LLC boosted its stake in shares of NetScout Systems by 41.3% during the first quarter. Guggenheim Capital LLC now owns 13,642 shares of the technology company’s stock valued at $438,000 after purchasing an additional 3,984 shares in the last quarter. Institutional investors own 93.67% of the company’s stock.

NetScout Systems Company Profile

(Get Rating)

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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