Zacks Investment Research upgraded shares of Forescout Technologies (NASDAQ:FSCT) from a hold rating to a buy rating in a research report released on Monday, Zacks.com reports. Zacks Investment Research currently has $41.00 price target on the stock.
According to Zacks, “ForeScout Technologies, Inc. provides network security hardware and software products primarily in the United States, Europe, the Middle East, Africa, the Asia Pacific and Japan. Its products include CounterACT Platform, CounterACT Models, Extended Integration Modules, Open Integration Module and Other Products. The Company’s solutions include Network Access Control; Endpoint Compliance; Bring Your Own Device & Mobile Security for Enterprise; Vulnerability Management, Policy and Solutions and Advanced Network Threat Prevention and Cyber Defense Solutions. ForeScout Technologies, Inc. is headquartered in San Jose, California. “
Several other equities research analysts have also issued reports on FSCT. Macquarie assumed coverage on Forescout Technologies in a research note on Tuesday, July 16th. They set a neutral rating and a $41.00 price objective for the company. Robert W. Baird reissued a buy rating and set a $44.00 price objective on shares of Forescout Technologies in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Forescout Technologies currently has a consensus rating of Buy and a consensus price target of $45.50.
NASDAQ:FSCT opened at $36.44 on Monday. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -21.06 and a beta of 1.55. Forescout Technologies has a 52-week low of $22.01 and a 52-week high of $46.43. The stock has a fifty day moving average of $36.71 and a 200 day moving average of $37.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.23 and a current ratio of 1.16.
Forescout Technologies (NASDAQ:FSCT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.47. The company had revenue of $78.28 million during the quarter, compared to analyst estimates of $77.22 million. Forescout Technologies had a negative return on equity of 73.42% and a negative net margin of 28.14%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) earnings per share. Equities analysts forecast that Forescout Technologies will post -1.84 earnings per share for the current fiscal year.
In other Forescout Technologies news, insider Pedro Abreu sold 3,537 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $32.56, for a total transaction of $115,164.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Darren J. Milliken sold 3,870 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $32.43, for a total value of $125,504.10. The disclosure for this sale can be found here. Insiders have sold 108,284 shares of company stock worth $3,878,002 in the last 90 days. Company insiders own 13.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Forescout Technologies by 46.3% in the second quarter. BlackRock Inc. now owns 2,769,642 shares of the company’s stock worth $93,780,000 after buying an additional 876,026 shares during the period. Vanguard Group Inc. raised its holdings in Forescout Technologies by 27.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,838,049 shares of the company’s stock worth $62,236,000 after acquiring an additional 400,475 shares during the last quarter. Emerald Advisers LLC raised its holdings in Forescout Technologies by 2.7% in the 2nd quarter. Emerald Advisers LLC now owns 994,511 shares of the company’s stock worth $33,674,000 after acquiring an additional 26,211 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in Forescout Technologies by 3.6% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 923,731 shares of the company’s stock worth $31,278,000 after acquiring an additional 32,480 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Forescout Technologies by 3.7% in the 1st quarter. Clearbridge Investments LLC now owns 883,936 shares of the company’s stock worth $37,046,000 after acquiring an additional 31,325 shares during the last quarter. Institutional investors and hedge funds own 62.99% of the company’s stock.
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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