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

NetScout Systems (NASDAQ:NTCT) issued an update on its FY 2022 earnings guidance on Thursday morning. 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.

NASDAQ NTCT traded down $0.13 during trading hours on Thursday, reaching $30.89. 298,575 shares of the company’s stock traded hands, compared to its average volume of 478,176. NetScout Systems has a 52-week low of $23.35 and a 52-week high of $34.87. The firm has a market cap of $2.28 billion, a PE ratio of 61.78 and a beta of 0.71. The firm has a 50-day simple moving average of $28.90 and a 200 day simple moving average of $28.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.89 and a quick ratio of 1.82.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results 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. The business had revenue of $212.00 million during the quarter, compared to analysts’ expectations of $204.70 million. NetScout Systems had a net margin of 4.38% and a return on equity of 4.74%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 earnings per share. Sell-side analysts forecast that NetScout Systems will post 1.19 EPS for the current fiscal year.

Several research analysts have issued reports on NTCT shares. Zacks Investment Research cut shares of NetScout Systems from a hold rating to a sell rating in a report on Wednesday, September 29th. Royal Bank of Canada lifted their target price 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. Finally, TheStreet cut shares of NetScout Systems from a b- rating to a c rating in a report on Thursday, July 29th.

In other news, EVP John Downing sold 3,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, November 9th. The shares were sold at an average price of $32.84, for a total value of $98,520.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Szabados sold 6,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 9th. The shares were 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. Insiders own 3.97% of the company’s stock.

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