Zacks Investment Research cut shares of Forescout Technologies (NASDAQ:FSCT) from a buy rating to a hold rating in a report released on Tuesday.
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. “
Get Forescout Technologies alerts:Other equities research analysts have also issued research reports about the company. Berenberg Bank initiated coverage on Forescout Technologies in a research note on Thursday, November 29th. They set a buy rating and a $41.00 price objective for the company. Monness Crespi & Hardt decreased their target price on Forescout Technologies from $43.00 to $40.00 and set a buy rating for the company in a research report on Friday, November 9th. ValuEngine upgraded Forescout Technologies from a hold rating to a buy rating in a research report on Sunday, February 10th. Morgan Stanley set a $42.00 target price on Forescout Technologies and gave the stock a buy rating in a research report on Friday, February 8th. Finally, Robert W. Baird initiated coverage on Forescout Technologies in a research report on Wednesday, October 17th. They issued an outperform rating and a $42.00 target price for the company. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Forescout Technologies presently has an average rating of Buy and a consensus price target of $41.80.
Shares of NASDAQ FSCT opened at $38.05 on Tuesday. Forescout Technologies has a fifty-two week low of $22.01 and a fifty-two week high of $40.96. 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 $1.63 billion, a price-to-earnings ratio of -21.99 and a beta of 1.15.
Forescout Technologies (NASDAQ:FSCT) last issued its quarterly earnings data on Thursday, February 7th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.24. Forescout Technologies had a negative return on equity of 59.52% and a negative net margin of 25.14%. The firm had revenue of $84.73 million during the quarter, compared to analyst estimates of $77.84 million. During the same quarter last year, the firm earned ($0.13) EPS. Forescout Technologies’s quarterly revenue was up 34.7% on a year-over-year basis. Equities analysts expect that Forescout Technologies will post -1.86 earnings per share for the current fiscal year.
In other news, Director Enrique T. Salem sold 1,500 shares of Forescout Technologies stock in a transaction that occurred on Wednesday, January 2nd. The stock was 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, insider Pedro Abreu sold 6,969 shares of Forescout Technologies stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $26.78, for a total value of $186,629.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 222,513 shares of company stock valued at $6,887,713. Insiders own 36.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates bought a new stake in shares of Forescout Technologies in the 2nd quarter worth approximately $475,000. Voya Investment Management LLC bought a new stake in shares of Forescout Technologies in the 2nd quarter worth approximately $367,000. Bank of America Corp DE lifted its holdings in shares of Forescout Technologies by 58.2% in the 2nd quarter. Bank of America Corp DE now owns 50,583 shares of the company’s stock worth $1,733,000 after purchasing an additional 18,617 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Forescout Technologies by 355.3% in the 2nd quarter. Northern Trust Corp now owns 322,634 shares of the company’s stock worth $11,053,000 after purchasing an additional 251,772 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of Forescout Technologies by 24.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 10,783 shares of the company’s stock worth $407,000 after purchasing an additional 2,116 shares during the last quarter. Institutional investors own 56.79% of the company’s stock.
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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