Wall Street analysts forecast that Forescout Technologies Inc (NASDAQ:FSCT) will report $94.94 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Forescout Technologies’ earnings, with the highest sales estimate coming in at $95.03 million and the lowest estimate coming in at $94.84 million. Forescout Technologies posted sales of $84.73 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.1%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 6th.
On average, analysts expect that Forescout Technologies will report full year sales of $340.27 million for the current fiscal year, with estimates ranging from $340.00 million to $340.50 million. For the next financial year, analysts expect that the business will post sales of $391.34 million, with estimates ranging from $379.93 million to $410.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Forescout Technologies.
Forescout Technologies (NASDAQ:FSCT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Forescout Technologies had a negative return on equity of 101.79% and a negative net margin of 35.27%. The firm had revenue of $91.62 million for the quarter, compared to analysts’ expectations of $90.99 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year.
A number of equities analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Forescout Technologies in a research note on Friday, November 8th. They issued an “overweight” rating and a $37.00 target price on the stock. Zacks Investment Research downgraded Forescout Technologies from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. UBS Group dropped their price target on Forescout Technologies from $50.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Robert W. Baird set a $44.00 price objective on Forescout Technologies and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, FBN Securities set a $35.00 price objective on Forescout Technologies and gave the company a “buy” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $37.22.
In related news, Vice Chairman David G. Dewalt sold 41,559 shares of Forescout Technologies stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $31.52, for a total value of $1,309,939.68. Following the sale, the insider now owns 510,306 shares of the company’s stock, valued at approximately $16,084,845.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Darren J. Milliken sold 2,800 shares of Forescout Technologies stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.60, for a total transaction of $124,880.00. Over the last quarter, insiders sold 258,602 shares of company stock worth $8,573,212. Corporate insiders own 13.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new position in Forescout Technologies during the third quarter valued at $25,000. Russell Investments Group Ltd. purchased a new position in shares of Forescout Technologies during the 3rd quarter valued at $77,000. NumerixS Investment Technologies Inc bought a new position in shares of Forescout Technologies during the 2nd quarter worth $78,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Forescout Technologies by 202.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,082 shares of the company’s stock worth $104,000 after acquiring an additional 2,064 shares during the period. Finally, Aperio Group LLC bought a new position in shares of Forescout Technologies during the 2nd quarter worth $118,000. Institutional investors and hedge funds own 72.55% of the company’s stock.
Shares of Forescout Technologies stock traded down $0.64 during mid-day trading on Tuesday, hitting $33.60. 419,586 shares of the stock were exchanged, compared to its average volume of 599,558. Forescout Technologies has a 12 month low of $22.01 and a 12 month high of $46.43. The company has a 50-day simple moving average of $32.16 and a 200 day simple moving average of $34.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $1.64 billion, a P/E ratio of -19.42 and a beta of 1.57.
About Forescout Technologies
Forescout Technologies, Inc provides network security products in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers CounterACT that provides for visibility and control capabilities across campus information technology and Internet of Things (IoT) devices, operational technology devices, data center physical and virtual devices, and cloud virtual devices; and SilentDefense, which offers visibility and control capabilities within the operational technology portion of the network.
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