NTCT - Why NetScout Stock Was Up on Thursday
NetScout Systems (NASDAQ: NTCT) shareholders had a good day on Thursday as the stock jumped 12% by 1 p.m. ET compared with a 0.5% increase in the S&P 500 . That surge put the cybersecurity specialist's stock back in positive territory for the year to date and pushed shares up 18% in the past 12 months.
It was powered by a warm reception to the company's fiscal third-quarter earnings report.
NetScout said before the market opened that sales landed at $270 million for the selling period that ended in late December, translating into a 3% increase year over year. Those results were in line with management's prior outlook, which Wall Street saw as a win given the volatile selling environment in IT spending today.
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Why NetScout Stock Was Up on Thursday