Forescout Technologies’ (FSCT) Buy Rating Reaffirmed at Needham & Company LLC

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Needham & Company LLC reiterated their buy rating on shares of Forescout Technologies (NASDAQ:FSCT) in a research note issued to investors on Monday morning, MarketBeat reports. They currently have a $50.00 target price on the stock, up from their prior target price of $47.00.

Several other research firms have also weighed in on FSCT. Robert W. Baird reaffirmed a buy rating and set a $44.00 target price on shares of Forescout Technologies in a report on Wednesday, March 6th. UBS Group lifted their target price on shares of Forescout Technologies from $43.00 to $52.00 and gave the company a buy rating in a report on Tuesday, March 5th. Zacks Investment Research lowered shares of Forescout Technologies from a hold rating to a sell rating in a report on Tuesday, December 18th. Monness Crespi & Hardt reaffirmed a buy rating and set a $49.00 target price (up from $42.00) on shares of Forescout Technologies in a report on Tuesday, March 5th. Finally, ValuEngine raised shares of Forescout Technologies from a hold rating to a buy rating in a report on Sunday, February 10th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Forescout Technologies has an average rating of Buy and an average target price of $44.40.

NASDAQ:FSCT opened at $44.09 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.87 billion, a PE ratio of -25.49 and a beta of 1.15. Forescout Technologies has a 1-year low of $22.01 and a 1-year high of $44.54.

Forescout Technologies (NASDAQ:FSCT) last posted its earnings results on Thursday, February 7th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.24. The firm had revenue of $84.73 million during the quarter, compared to analyst estimates of $77.84 million. Forescout Technologies had a negative net margin of 25.14% and a negative return on equity of 59.52%. The business’s quarterly revenue was up 34.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.13) EPS. Analysts expect that Forescout Technologies will post -1.86 earnings per share for the current fiscal year.

In related news, Director Enrique T. Salem sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $25.32, for a total value of $37,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher Harms sold 7,957 shares of the business’s stock in a transaction on Friday, January 11th. The stock was sold at an average price of $26.36, for a total transaction of $209,746.52. The disclosure for this sale can be found here. In the last three months, insiders sold 633,864 shares of company stock valued at $23,460,948. 36.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Psagot Investment House Ltd. increased its holdings in Forescout Technologies by 41.0% in the 4th quarter. Psagot Investment House Ltd. now owns 1,141 shares of the company’s stock worth $30,000 after acquiring an additional 332 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Forescout Technologies by 151.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,381 shares of the company’s stock worth $36,000 after acquiring an additional 831 shares in the last quarter. Great West Life Assurance Co. Can purchased a new stake in Forescout Technologies in the 4th quarter worth $60,000. Pearl River Capital LLC purchased a new stake in Forescout Technologies in the 4th quarter worth $66,000. Finally, Sun Life Financial INC acquired a new stake in Forescout Technologies during the 4th quarter worth $89,000. 55.15% of the stock is owned by institutional investors.

Forescout Technologies Company Profile

ForeScout Technologies, Inc provides network security products in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers ForeScout CounterACT agentless technology that discovers, classifies, and assesses IP-based devices; ForeScout extended modules, which represent integrations across vulnerability assessment, advanced threat detection, security incidence and event management, enterprise mobility management, endpoint protection and endpoint detection and response, next generation firewall, privileged access management, and IT systems management vendors, as well as compliance; and ForeScout CounterACT Enterprise Manager, a centralized security management solution for the control of various appliances deployed on an end-customer network, as well as maintenance and professional services.

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Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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