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 commented on NTCT. TheStreet downgraded shares of NetScout Systems from a b- rating to a c rating in a report on Thursday, July 29th. Zacks Investment Research downgraded shares of NetScout Systems from a hold rating to a sell rating in a report on Wednesday, September 29th. Finally, Royal Bank of Canada boosted their price objective on shares of NetScout Systems from $29.00 to $33.00 and gave the stock a sector perform rating in a report on Friday, November 5th.

Shares of NASDAQ:NTCT traded down $0.13 on Thursday, hitting $30.89. 298,567 shares of the company were exchanged, compared to its average volume of 478,176. The company’s 50 day moving average price is $28.83 and its two-hundred day moving average price is $28.49. NetScout Systems has a one year low of $23.35 and a one year high of $34.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.82 and a current ratio of 1.89. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 61.78 and a beta of 0.71.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings data on Thursday, November 4th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.09. NetScout Systems had a net margin of 4.38% and a return on equity of 4.74%. The company had revenue of $212.00 million for the quarter, compared to the consensus estimate of $204.70 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Research analysts predict that NetScout Systems will post 1.19 earnings per share for the current year.

In other news, COO Michael Szabados sold 6,400 shares of NetScout Systems stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $33.06, for a total transaction of $211,584.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. 3.97% of the stock is currently owned by insiders.

A hedge fund recently bought a new stake in NetScout Systems stock. Janus Henderson Group PLC bought a new position in NetScout Systems, Inc. (NASDAQ:NTCT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,409 shares of the technology company’s stock, valued at approximately $200,000. 93.65% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: How to invest using market indexes

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

Receive News & Ratings for NetScout Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetScout Systems and related companies with MarketBeat.com's FREE daily email newsletter.