NetScout Systems (NASDAQ:NTCT) Hits New 1-Year High - What's Next?

Key Points

• NetScout Systems hit a new 52-week high, trading as high as $44.22 and ending the session up about 3%, well above its 50-day and 200-day moving averages.
• Recent analyst activity has been mixed but generally positive, with several firms raising ratings or price targets; the stock now has a consensus Buy rating and an average price target of $35.50.
• The company beat quarterly earnings estimates, reporting $0.52 EPS versus $0.46 expected and revenue of $203.03 million, while insiders also disclosed recent stock sales under pre-arranged trading plans.

Shares of NetScout Systems, Inc. (NASDAQ:NTCT - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $44.22 and last traded at $44.2620, with a volume of 73145 shares trading hands. The stock had previously closed at $43.00.

Analysts Set New Price Targets

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

NetScout Systems Trading Up 3.0%

The stock's 50 day moving average is $40.12 and its two-hundred day moving average is $33.34. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 34.17 and a beta of 0.68.

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

Insider Buying and Selling

In other news, Director Alfred Grasso sold 5,000 shares of NetScout Systems stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $40.67, for a total value of $203,350.00. Following the sale, the director directly owned 35,000 shares in the company, valued at $1,423,450. This trade represents a 12.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $40.29, for a total transaction of $322,320.00. Following the transaction, the executive vice president owned 129,121 shares of the company's stock, valued at $5,202,285.09. The trade was 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. Corporate insiders own 3.82% of the company's stock.

Hedge Funds Weigh In On NetScout Systems

Large investors have recently modified their holdings of the business. IFP Advisors Inc grew its holdings in shares of NetScout Systems by 147.2% in the 4th quarter. IFP Advisors Inc now owns 1,011 shares of the technology company's stock valued at $27,000 after acquiring an additional 602 shares in the last quarter. Farther Finance Advisors LLC grew its stake in NetScout Systems by 92.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,290 shares of the technology company's stock valued at $35,000 after purchasing an additional 621 shares in the last quarter. Advisory Services Network LLC bought a new position in NetScout Systems in the third quarter valued at approximately $35,000. Global Retirement Partners LLC acquired a new position in shares of NetScout Systems during the 4th quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of NetScout Systems by 1,936.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,016 shares of the technology company's stock worth $50,000 after purchasing an additional 1,917 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

About NetScout Systems

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.