NetScout Systems (NASDAQ:NTCT) Reaches New 12-Month High – Here’s What Happened

NetScout Systems, Inc. (NASDAQ:NTCT) hit a new 52-week high during trading on Friday . The company traded as high as $41.67 and last traded at $41.6540, with a volume of 168412 shares trading hands. The stock had previously closed at $39.44.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings cut NetScout Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Royal Bank Of Canada upped their price target on NetScout Systems from $29.00 to $38.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Finally, Wall Street Zen raised NetScout Systems from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, NetScout Systems presently has an average rating of “Moderate Buy” and an average target price of $35.50.

NetScout Systems Stock Performance

The company has a market capitalization of $2.93 billion, a P/E ratio of 31.55 and a beta of 0.61. The business has a 50 day moving average of $34.00 and a 200-day moving average of $30.04.

NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. NetScout Systems had a return on equity of 8.37% and a net margin of 11.11%.The company had revenue of $203.04 million for the quarter, compared to analyst estimates of $198.64 million. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. As a group, equities analysts forecast that NetScout Systems, Inc. will post 2.06 EPS for the current fiscal year.

Insider Activity

In related news, Director Alfred Grasso sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $40.67, for a total transaction of $203,350.00. Following the sale, the director directly owned 35,000 shares in the company, valued at approximately $1,423,450. The trade was a 12.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.82% of the company’s stock.

Institutional Trading of NetScout Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in NTCT. CIBC Bancorp USA Inc. bought a new stake in shares of NetScout Systems during the 3rd quarter valued at $118,440,000. Robeco Institutional Asset Management B.V. raised its stake in shares of NetScout Systems by 93.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,559,192 shares of the technology company’s stock valued at $42,192,000 after purchasing an additional 753,842 shares during the period. First Trust Advisors LP raised its stake in shares of NetScout Systems by 40.8% during the 4th quarter. First Trust Advisors LP now owns 2,519,733 shares of the technology company’s stock valued at $68,184,000 after purchasing an additional 729,632 shares during the period. Millennium Management LLC raised its stake in shares of NetScout Systems by 1,361.1% during the 3rd quarter. Millennium Management LLC now owns 747,824 shares of the technology company’s stock valued at $19,316,000 after purchasing an additional 696,643 shares during the period. Finally, Wellington Management Group LLP bought a new position in NetScout Systems in the 3rd quarter worth about $16,091,000. 91.64% of the stock is currently owned by institutional investors.

NetScout Systems Company Profile

NetScout Systems, Inc is a leading provider of network performance management, service assurance and cybersecurity solutions. The company designs and delivers hardware and software platforms that capture and analyze real-time and historical packet data, enabling IT teams and service providers to monitor application performance, troubleshoot network issues and defend against distributed denial-of-service (DDoS) attacks. NetScout’s flagship offerings include the nGeniusONE service assurance platform and the InfiniStream packet broker, which together provide end-to-end visibility across hybrid and multi-cloud environments.

Founded in 1984 and headquartered in Westford, Massachusetts, NetScout has built a reputation for scalable and resilient monitoring infrastructure.