Forescout Technologies (FSCT) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Forescout Technologies (NASDAQ:FSCT) from a buy rating to a hold rating in a research report report published on Wednesday morning.

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 research analysts have also issued reports on the company. JPMorgan Chase & Co. increased their target price on Forescout Technologies to $46.00 and gave the stock an overweight rating in a research report on Friday, August 10th. Citigroup increased their target price on Forescout Technologies from $33.00 to $38.00 and gave the stock a neutral rating in a research report on Tuesday, July 24th. UBS Group increased their target price on Forescout Technologies from $40.00 to $42.00 and gave the stock a buy rating in a research report on Friday, August 10th. Needham & Company LLC initiated coverage on Forescout Technologies in a research report on Friday, September 21st. They issued a buy rating and a $47.00 target price for the company. Finally, Monness Crespi & Hardt initiated coverage on Forescout Technologies in a research report on Monday, July 9th. They issued a buy rating and a $42.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Forescout Technologies has an average rating of Buy and a consensus price target of $39.10.

Shares of NASDAQ:FSCT traded up $0.49 during trading on Wednesday, hitting $30.33. The stock had a trading volume of 318,247 shares, compared to its average volume of 494,123. Forescout Technologies has a 12 month low of $21.56 and a 12 month high of $40.96. The firm has a market capitalization of $1.58 billion and a P/E ratio of -3.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.16 and a current ratio of 2.17.

Forescout Technologies (NASDAQ:FSCT) last announced its earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.19. The firm had revenue of $67.59 million during the quarter, compared to the consensus estimate of $63.57 million. During the same period in the prior year, the company posted ($2.31) EPS. The firm’s revenue was up 35.2% on a year-over-year basis. On average, equities analysts forecast that Forescout Technologies will post -0.95 EPS for the current fiscal year.

In related news, SVP Darren J. Milliken sold 2,539 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $32.08, for a total transaction of $81,451.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman David G. Dewalt sold 50,374 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $34.79, for a total value of $1,752,511.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,180,176 shares of company stock valued at $43,623,256. 36.20% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. bought a new position in Forescout Technologies during the 2nd quarter valued at approximately $107,000. NumerixS Investment Technologies Inc bought a new position in Forescout Technologies during the 2nd quarter valued at approximately $140,000. SG Americas Securities LLC bought a new position in Forescout Technologies during the 2nd quarter valued at approximately $161,000. Royal Bank of Canada increased its position in Forescout Technologies by 67,800.0% during the 1st quarter. Royal Bank of Canada now owns 5,432 shares of the company’s stock valued at $176,000 after buying an additional 5,424 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Forescout Technologies during the 2nd quarter valued at approximately $185,000. 54.40% of the stock is owned by institutional investors.

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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