NetScout Systems (NASDAQ:NTCT) Issues FY23 Earnings Guidance

NetScout Systems (NASDAQ:NTCT – Get Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided EPS guidance of $1.97-2.03 for the period, compared to the consensus EPS 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 Performance

NASDAQ:NTCT traded down $0.68 during mid-day trading on Friday, hitting $33.79. 609,414 shares of the company’s stock traded hands, compared to its average volume of 612,610. The company has a current ratio of 1.36, a quick ratio of 1.88 and a debt-to-equity ratio of 0.10. NetScout Systems has a 12 month low of $26.01 and a 12 month high of $37.68. The firm has a 50 day moving average of $33.93 and a two-hundred day moving average of $32.73. The firm has a market capitalization 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.

NetScout Systems (NASDAQ:NTCT – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. NetScout Systems had a net margin of 4.71% and a return on equity of 4.85%. The business had revenue of $208.80 million during the quarter, compared to analyst estimates of $204.25 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts forecast that NetScout Systems will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NTCT. Piper Sandler downgraded shares of NetScout Systems from a neutral rating to an underweight rating and decreased their price target for the stock from $35.00 to $33.00 in a research note on Tuesday, May 31st. StockNews.com raised shares of NetScout Systems from a buy rating to a strong-buy rating in a research note on Friday.

Institutional Investors Weigh In On NetScout Systems

Large investors have recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of NetScout Systems by 5.8% in the first quarter. US Bancorp DE now owns 14,554 shares of the technology company’s stock valued at $467,000 after buying an additional 804 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of NetScout Systems by 17.6% in the 1st quarter. Natixis Advisors L.P. now owns 33,907 shares of the technology company’s stock valued at $1,088,000 after acquiring an additional 5,064 shares during the last quarter. Bank of Montreal Can raised its position in shares of NetScout Systems by 1.8% in the 1st quarter. Bank of Montreal Can now owns 21,657 shares of the technology company’s stock valued at $702,000 after acquiring an additional 392 shares during the period. MetLife Investment Management LLC boosted its stake in NetScout Systems by 56.2% during the 1st quarter. MetLife Investment Management LLC now owns 37,102 shares of the technology company’s stock worth $1,190,000 after acquiring an additional 13,356 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of NetScout Systems by 0.6% in the 1st quarter. Rhumbline Advisers now owns 211,685 shares of the technology company’s stock valued at $6,791,000 after buying an additional 1,186 shares during the period. Institutional investors own 93.67% of the company’s stock.

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.