NetScout Systems (NASDAQ:NTCT) Updates FY 2022 Earnings Guidance

NetScout Systems (NASDAQ:NTCT) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $1.710-$1.770 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.760. The company issued revenue guidance of $835 million-$865 million, compared to the consensus revenue estimate of $850.75 million.

Several brokerages recently weighed in on NTCT. Zacks Investment Research cut shares of NetScout Systems from a hold rating to a sell rating in a research note on Wednesday, September 29th. TheStreet cut shares of NetScout Systems from a b- rating to a c rating in a research note on Thursday, July 29th. Finally, Royal Bank of Canada boosted their target price on shares of NetScout Systems from $29.00 to $33.00 and gave the company a sector perform rating in a report on Friday, November 5th.

NTCT stock traded down $0.13 during midday trading on Thursday, hitting $30.89. The stock had a trading volume of 298,575 shares, compared to its average volume of 478,176. The firm has a market cap of $2.28 billion, a P/E ratio of 61.78 and a beta of 0.71. The company has a current ratio of 1.89, a quick ratio of 1.82 and a debt-to-equity ratio of 0.18. NetScout Systems has a 1-year low of $23.35 and a 1-year high of $34.87. The business has a fifty day moving average price of $28.90 and a two-hundred day moving average price of $28.51.

NetScout Systems (NASDAQ:NTCT) last released its earnings results on Thursday, November 4th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.09. The business had revenue of $212.00 million for the quarter, compared to analyst estimates of $204.70 million. NetScout Systems had a net margin of 4.38% and a return on equity of 4.74%. NetScout Systems’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, equities analysts anticipate that NetScout Systems will post 1.19 EPS for the current year.

In other news, EVP John Downing sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $32.84, for a total transaction of $98,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Szabados sold 6,400 shares of the business’s stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $33.06, for a total transaction of $211,584.00. The disclosure for this sale can be found here. 3.97% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in NetScout Systems stock. Royal Bank of Canada grew its stake in shares of NetScout Systems, Inc. (NASDAQ:NTCT) by 3.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,842 shares of the technology company’s stock after acquiring an additional 1,089 shares during the period. Royal Bank of Canada’s holdings in NetScout Systems were worth $777,000 at the end of the most recent reporting period. Institutional investors own 93.65% of the company’s stock.

About NetScout Systems

NetScout Systems, Inc engages in the provision of application and network performance management solutions. Its integrated hardware and software solutions are used by commercial enterprises, governmental agencies and telecommunication service providers. The company was founded by Anil K. Singhal and Narendra Popat in June 1984 and is headquartered in Westford, MA.

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Earnings History and Estimates for NetScout Systems (NASDAQ:NTCT)

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