NetScout Systems fell sharply Tuesday after the cybersecurity company preannounced disappointing fiscal second-quarter results. NTCT stock plummeted to a three-year low in high volume.
On today's stock market, shares crashed 16.6% to 23.02. That pushed NTCT stock to its lowest point since November 2020. NetScout stock underperformed its industry group of database stocks, which ended the day with a fractional gain. The group ranks No. 18 out of the 197 industries Investor's Business Daily tracks.
For the fiscal second quarter, NetScout expects sales to come in at $195 million to $197 million and for adjusted earnings to be in the range of 60 cents to 62 cents per share. Prior to NetScout's announcement, analysts polled by FactSet expected $223.6 million in sales.
NTCT Stock Ratings
NetScout expects to generate $840 million to $860 million in sales this year vs. NTCT stock analysts called for $922.6 million as of Sept. 29. Analysts also projected adjusted profit of $1.93 a share vs. NetScout's new outlook for $2 to $2.20 per share.
NTCT stock has a low Relative Strength Rating of 35 out of a best-possible 99, according to IBD Digital. But the software company has a stronger EPS Rating of 95, a measure of recent profitability.
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