NetScout Systems (NASDAQ:NTCT) Hits New 1-Year High – Time to Buy?

NetScout Systems, Inc. (NASDAQ:NTCTGet Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $43.80 and last traded at $43.7740, with a volume of 169187 shares traded. The stock had previously closed at $42.41.

Analyst Ratings Changes

A number of brokerages recently issued reports on NTCT. Royal Bank Of Canada boosted their price objective on NetScout Systems from $29.00 to $38.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Wall Street Zen raised shares of NetScout Systems from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Zacks Research raised shares of NetScout Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings downgraded NetScout Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, NetScout Systems presently has an average rating of “Buy” and a consensus target price of $35.50.

Check Out Our Latest Stock Analysis on NetScout Systems

NetScout Systems Trading Up 3.0%

The business’s fifty day moving average is $38.84 and its two-hundred day moving average is $32.62. The company has a market capitalization of $3.12 billion, a PE ratio of 33.67 and a beta of 0.68.

NetScout Systems (NASDAQ:NTCTGet Free Report) last posted its earnings results on Thursday, May 7th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.06. NetScout Systems had a net margin of 11.11% and a return on equity of 8.37%. The company had revenue of $203.03 million during the quarter, compared to analysts’ expectations of $198.64 million. During the same period last year, the company posted $0.52 earnings per share. NetScout Systems’s quarterly revenue was down 1.0% on a year-over-year basis. NetScout Systems has set its FY 2027 guidance at 2.650-2.800 EPS. As a group, equities research analysts anticipate that NetScout Systems, Inc. will post 2.06 EPS for the current year.

Insiders Place Their Bets

In other news, Director Alfred Grasso sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 35,000 shares of the company’s stock, 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Downing sold 8,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $40.29, for a total transaction of $322,320.00. Following the completion of the sale, the executive vice president directly owned 129,121 shares in the company, valued at approximately $5,202,285.09. This represents a 5.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 3.82% of the company’s stock.

Institutional Investors Weigh In On NetScout Systems

Several hedge funds and other institutional investors have recently modified their holdings of NTCT. CIBC Bancorp USA Inc. acquired a new stake in NetScout Systems during the 3rd quarter worth about $118,440,000. JPMorgan Chase & Co. grew its holdings in NetScout Systems by 65.8% during the third quarter. JPMorgan Chase & Co. now owns 343,551 shares of the technology company’s stock worth $8,874,000 after acquiring an additional 136,377 shares during the period. Allspring Global Investments Holdings LLC raised its position in NetScout Systems by 93.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 119,363 shares of the technology company’s stock valued at $3,205,000 after acquiring an additional 57,602 shares in the last quarter. Leuthold Group LLC lifted its holdings in NetScout Systems by 45.3% in the fourth quarter. Leuthold Group LLC now owns 179,984 shares of the technology company’s stock valued at $4,870,000 after acquiring an additional 56,144 shares during the period. Finally, SG Americas Securities LLC boosted its position in NetScout Systems by 2,546.1% in the 4th quarter. SG Americas Securities LLC now owns 449,737 shares of the technology company’s stock worth $12,170,000 after purchasing an additional 432,741 shares in the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

About NetScout Systems

(Get Free Report)

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.

Further Reading

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