NetScout Systems (NASDAQ:NTCT) Updates 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NTCT shares. StockNews.com upgraded shares of NetScout Systems from a buy rating to a strong-buy rating in a research report on Friday. Piper Sandler lowered NetScout Systems from a neutral rating to an underweight rating and dropped their target price for the stock from $35.00 to $33.00 in a research report on Tuesday, May 31st.

NetScout Systems Stock Down 2.0 %

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

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Great West Life Assurance Co. Can increased its holdings in shares of NetScout Systems by 0.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 65,268 shares of the technology company’s stock worth $2,149,000 after purchasing an additional 335 shares during the period. Bank of Montreal Can raised its holdings 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 worth $702,000 after buying an additional 392 shares in the last quarter. US Bancorp DE lifted its holdings in shares of NetScout Systems by 5.8% during the first quarter. US Bancorp DE now owns 14,554 shares of the technology company’s stock valued at $467,000 after acquiring an additional 804 shares during the period. Rhumbline Advisers boosted its position in NetScout Systems by 0.6% in the first 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 in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in NetScout Systems during the 1st quarter worth approximately $48,000. 93.67% of the stock is currently owned by institutional investors and hedge funds.

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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