The firm also raised its price target to $46 from $35 on the company, which designs, develops, markets and sells support application and network performance and service assurance solutions for Internet protocol based service delivery environments.
The firm reported it earned a GAAP net income of $16.7 million, or 40 cents per share in the first quarter 2014, versus the $14.6 million, or 34 cents per share, in net income the company earned during the same quarter 2013.
Non-GAAP net income for the first quarter 2014 is $20.2 million, or 48 cents per share, versus the $18.1 million, or 43 cents per share reported in the first quarter 2013.
TheStreet Ratings team rates NETSCOUT SYSTEMS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NETSCOUT SYSTEMS INC (NTCT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."