NetScout Systems (NASDAQ:NTCT) Shares Break Above Two Hundred Day Moving Average – Here’s What Happened

NetScout Systems, Inc. (NASDAQ:NTCT)’s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $38.42 and traded as high as $41.19. NetScout Systems shares last traded at $40.07, with a volume of 734,938 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings cut NetScout Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, August 27th. Finally, Zacks Research upgraded shares of NetScout Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

NetScout Systems Stock Up 3.5%

The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 24.81 and a beta of 0.69. The company has a fifty day moving average of $39.01 and a two-hundred day moving average of $38.48.

NetScout Systems (NASDAQ:NTCT) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.14. The firm had revenue of $210.42 million during the quarter, compared to analysts’ expectations of $196.17 million. NetScout Systems had a net margin of 13.71% and a return on equity of 9.25%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. Equities analysts anticipate that NetScout Systems, Inc. will post 2.15 earnings per share for the current fiscal year.

Insider Activity at NetScout Systems

In related news, Director Christopher Perretta sold 7,000 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $38.00, for a total transaction of $266,000.00. Following the sale, the director owned 40,866 shares of the company’s stock, valued at approximately $1,552,908. The trade was a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Sanjay Munshi sold 2,269 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $39.27, for a total transaction of $89,103.63. Following the completion of the transaction, the chief operating officer directly owned 6,729 shares of the company’s stock, valued at approximately $264,247.83. This trade represents a 25.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,269 shares of company stock worth $813,184 in the last ninety days. Corporate insiders own 4.74% of the company’s stock.

Hedge Funds Weigh In On NetScout Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTCT. GAMMA Investing LLC lifted its position in shares of NetScout Systems by 20.7% in the third quarter. GAMMA Investing LLC now owns 1,768 shares of the technology company’s stock valued at $71,000 after acquiring an additional 303 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of NetScout Systems by 64.4% during the second quarter. Tidal Investments LLC now owns 38,940 shares of the technology company’s stock valued at $1,696,000 after buying an additional 15,259 shares during the period. NewEdge Advisors LLC acquired a new stake in NetScout Systems during the second quarter worth approximately $154,000. Nykredit A S acquired a new position in NetScout Systems in the 2nd quarter valued at $50,000. Finally, Corient Private Wealth LP raised its holdings in NetScout Systems by 17.0% in the 2nd quarter. Corient Private Wealth LP now owns 25,712 shares of the technology company’s stock valued at $1,120,000 after acquiring an additional 3,744 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

NetScout Systems Company Profile

NetScout Systems, Inc develops solutions that help organizations monitor, manage, and secure digital networks. Its offerings provide visibility into network traffic, application performance, user experience, and cybersecurity events across enterprise, cloud, data center, and telecommunications environments.

The company’s portfolio includes the nGenius service assurance platform, packet-based monitoring and analysis tools, network traffic management products, and cybersecurity solutions designed to detect and mitigate distributed denial-of-service attacks and other network threats.