ForeScout Technologies (NASDAQ:FSCT) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ForeScout Technologies (NASDAQ:FSCT) from a hold rating to a buy rating in a research report released on Tuesday, April 10th. Zacks Investment Research currently has $35.00 price objective 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. “

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FSCT has been the topic of several other reports. Stephens started coverage on shares of ForeScout Technologies in a research report on Thursday, April 5th. They set an overweight rating and a $37.00 target price on the stock. FBN Securities started coverage on shares of ForeScout Technologies in a research report on Thursday, April 5th. They set an outperform rating on the stock. Morgan Stanley set a $31.00 target price on shares of ForeScout Technologies and gave the stock a hold rating in a research report on Thursday, February 8th. Finally, Bank of America boosted their price objective on shares of ForeScout Technologies from $35.00 to $36.00 and gave the stock a buy rating in a research report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. ForeScout Technologies has a consensus rating of Buy and a consensus price target of $32.88.

ForeScout Technologies stock traded up $1.21 during trading on Tuesday, reaching $36.66. The stock had a trading volume of 519,239 shares, compared to its average volume of 267,050. The company has a quick ratio of 1.75, a current ratio of 1.77 and a debt-to-equity ratio of 0.29. ForeScout Technologies has a 52-week low of $21.56 and a 52-week high of $37.79. The company has a market capitalization of $1,295.24 and a P/E ratio of -4.62.

ForeScout Technologies (NASDAQ:FSCT) last announced its earnings results on Wednesday, February 7th. The company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.97). The firm had revenue of $65.96 million for the quarter, compared to analyst estimates of $62.38 million. research analysts anticipate that ForeScout Technologies will post -1.12 earnings per share for the current fiscal year.

In other news, Chairman Yehezkel Yeshurun sold 113,137 shares of the company’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $27.64, for a total transaction of $3,127,106.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Decesare sold 210,000 shares of the company’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $27.64, for a total transaction of $5,804,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,801,916 shares of company stock worth $49,804,958.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC acquired a new stake in ForeScout Technologies during the 4th quarter worth approximately $20,081,000. Clearbridge LLC acquired a new stake in ForeScout Technologies during the 4th quarter worth approximately $16,428,000. BlackRock Inc. acquired a new stake in ForeScout Technologies during the 4th quarter worth approximately $14,708,000. Emerald Advisers Inc. PA acquired a new stake in ForeScout Technologies during the 4th quarter worth approximately $11,318,000. Finally, Clearbridge Investments LLC acquired a new stake in ForeScout Technologies during the 4th quarter worth approximately $10,367,000. 35.33% of the stock is owned by institutional investors.

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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 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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