NetScout Systems, Inc. (NASDAQ:NTCT – Get Free Report) shares hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $27.89 and last traded at $26.71, with a volume of 126487 shares traded. The stock had previously closed at $22.35.
The technology company reported $0.78 EPS for the quarter, topping 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%.
Analyst Ratings Changes
Separately, StockNews.com upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th.
Hedge Funds Weigh In On NetScout Systems
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP raised its stake in NetScout Systems by 316.8% in the third quarter. Quarry LP now owns 1,513 shares of the technology company’s stock worth $33,000 after buying an additional 1,150 shares in the last quarter. FMR LLC increased its holdings in shares of NetScout Systems by 32.1% in the 3rd quarter. FMR LLC now owns 1,964 shares of the technology company’s stock valued at $43,000 after acquiring an additional 477 shares during the period. KBC Group NV raised its position in shares of NetScout Systems by 52.4% in the 3rd quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock worth $67,000 after acquiring an additional 1,066 shares in the last quarter. Covestor Ltd lifted its stake in shares of NetScout Systems by 25.7% during the 3rd quarter. Covestor Ltd now owns 3,606 shares of the technology company’s stock worth $78,000 after purchasing an additional 737 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in NetScout Systems by 203.8% during the third quarter. Meeder Asset Management Inc. now owns 6,338 shares of the technology company’s stock valued at $138,000 after purchasing an additional 4,252 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.
NetScout Systems Price Performance
The company has a market cap of $1.80 billion, a PE ratio of -2.98 and a beta of 0.58. The company has a quick ratio of 1.63, a current ratio of 1.68 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $22.15 and a 200-day simple moving average of $21.09.
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.
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