NetScout Systems (NASDAQ:NTCT) Hits New 52-Week High on Better-Than-Expected Earnings

NetScout Systems, Inc. (NASDAQ:NTCT)’s share price hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $27.89 and last traded at $26.71, with a volume of 126487 shares trading hands. The stock had previously closed at $22.35.

The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. NetScout Systems had a negative net margin of 76.14% and a positive return on equity of 5.31%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

Hedge Funds Weigh In On NetScout Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC boosted its position in NetScout Systems by 4.9% during the fourth quarter. Empowered Funds LLC now owns 43,148 shares of the technology company’s stock worth $935,000 after acquiring an additional 2,008 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in NetScout Systems by 6.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 323,698 shares of the technology company’s stock worth $7,011,000 after purchasing an additional 18,244 shares during the period. KBC Group NV raised its stake in NetScout Systems by 45.1% during the fourth quarter. KBC Group NV now owns 4,498 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,398 shares during the period. Franklin Resources Inc. raised its stake in NetScout Systems by 12.4% during the third quarter. Franklin Resources Inc. now owns 65,971 shares of the technology company’s stock worth $1,422,000 after purchasing an additional 7,298 shares during the period. Finally, World Investment Advisors LLC purchased a new position in NetScout Systems during the third quarter worth about $298,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NetScout Systems Stock Up 19.2 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.68 and a quick ratio of 1.63. The business’s 50 day simple moving average is $22.08 and its 200 day simple moving average is $21.06. The company has a market capitalization of $1.91 billion, a PE ratio of -3.17 and a beta of 0.58.

NetScout Systems Company Profile

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.