NetScout Systems (NASDAQ:NTCT) Posts Quarterly Earnings Results

NetScout Systems (NASDAQ:NTCT) issued its quarterly earnings data on Thursday. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07, Briefing.com reports. The company had revenue of $186.10 million for the quarter, compared to analyst estimates of $196.98 million. NetScout Systems had a positive return on equity of 3.35% and a negative net margin of 4.51%. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 earnings per share. NetScout Systems updated its FY20 guidance to $1.40-1.45 EPS.

Shares of NTCT traded down $0.64 during mid-day trading on Friday, hitting $23.07. 502,617 shares of the company’s stock were exchanged, compared to its average volume of 397,787. NetScout Systems has a fifty-two week low of $21.58 and a fifty-two week high of $30.30. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 2.56 and a beta of 1.32. The company has a 50 day simple moving average of $25.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.93 and a quick ratio of 2.04.

In related news, insider John Downing sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $26.41, for a total value of $79,230.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Szabados sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $28.10, for a total transaction of $168,600.00. Following the completion of the sale, the insider now owns 37,403 shares of the company’s stock, valued at approximately $1,051,024.30. The disclosure for this sale can be found here. 4.06% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in NTCT. Norges Bank acquired a new stake in NetScout Systems in the fourth quarter valued at about $32,308,000. Neuberger Berman Group LLC lifted its position in NetScout Systems by 9.6% in the first quarter. Neuberger Berman Group LLC now owns 5,908,149 shares of the technology company’s stock valued at $165,842,000 after purchasing an additional 515,917 shares during the period. Fort Pitt Capital Group LLC lifted its position in NetScout Systems by 13.7% in the first quarter. Fort Pitt Capital Group LLC now owns 1,304,860 shares of the technology company’s stock valued at $36,627,000 after purchasing an additional 157,676 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in NetScout Systems by 62.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 349,022 shares of the technology company’s stock valued at $9,797,000 after purchasing an additional 133,887 shares during the period. Finally, Boston Partners lifted its position in NetScout Systems by 32.4% in the first quarter. Boston Partners now owns 391,440 shares of the technology company’s stock valued at $10,988,000 after purchasing an additional 95,710 shares during the period.

Several equities analysts have issued reports on the company. Piper Jaffray Companies lowered NetScout Systems from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $31.00 to $30.00 in a report on Wednesday, April 10th. Zacks Investment Research upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. BidaskClub upgraded shares of NetScout Systems from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. Finally, ValuEngine downgraded shares of NetScout Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $29.00.

NetScout Systems Company Profile

NetScout Systems, Inc provides real-time operational intelligence and performance analytics for digital business services against disruptions in availability, performance, and security 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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Earnings History for NetScout Systems (NASDAQ:NTCT)

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