NetScout Systems (NASDAQ:NTCT) Updates FY23 Earnings Guidance

NetScout Systems (NASDAQ:NTCTGet Rating) updated its FY23 earnings guidance on Thursday. The company provided EPS guidance of $1.97-2.03 for the period, compared to the consensus EPS 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.

NetScout Systems Stock Performance

NetScout Systems stock traded down $0.68 during mid-day trading on Friday, hitting $33.79. The company had a trading volume of 609,414 shares, compared to its average volume of 612,610. The company has a current ratio of 1.36, a quick ratio of 1.88 and a debt-to-equity ratio of 0.10. The company has a market capitalization 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. The company’s fifty day moving average is $33.93 and its 200-day moving average is $32.73. NetScout Systems has a 12-month low of $26.01 and a 12-month high of $37.68.

NetScout Systems (NASDAQ:NTCTGet Rating) last announced its earnings results on Thursday, August 4th. The technology company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $208.80 million for the quarter, compared to the consensus estimate of $204.25 million. NetScout Systems had a net margin of 4.71% and a return on equity of 4.85%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Equities research analysts predict that NetScout Systems will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NTCT. StockNews.com raised shares of NetScout Systems from a buy rating to a strong-buy rating in a report on Friday. Piper Sandler downgraded shares of NetScout Systems from a neutral rating to an underweight rating and cut their target price for the company from $35.00 to $33.00 in a research note on Tuesday, May 31st.

Hedge Funds Weigh In On NetScout Systems

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in NetScout Systems by 0.7% during the 1st quarter. BlackRock Inc. now owns 12,301,739 shares of the technology company’s stock worth $394,640,000 after acquiring an additional 90,198 shares in the last quarter. Vanguard Group Inc. increased its position in NetScout Systems by 2.5% during the first quarter. Vanguard Group Inc. now owns 7,914,715 shares of the technology company’s stock worth $253,904,000 after buying an additional 190,432 shares in the last quarter. State Street Corp grew its position in shares of NetScout Systems by 3.4% in the first quarter. State Street Corp now owns 2,841,865 shares of the technology company’s stock valued at $91,167,000 after purchasing an additional 92,978 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in NetScout Systems by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 942,289 shares of the technology company’s stock valued at $30,229,000 after acquiring an additional 17,085 shares during the last quarter. Finally, Invesco Ltd. grew its position in NetScout Systems by 45.3% during the first quarter. Invesco Ltd. now owns 732,879 shares of the technology company’s stock valued at $23,511,000 after acquiring an additional 228,324 shares during the period. 93.67% of the stock is owned by hedge funds and other institutional investors.

About NetScout Systems

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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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