Forescout Technologies Inc (FSCT) Given Average Rating of “Buy” by Analysts

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Forescout Technologies Inc (NASDAQ:FSCT) has earned an average recommendation of “Buy” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $39.60.

A number of brokerages recently weighed in on FSCT. Zacks Investment Research downgraded shares of Forescout Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. Monness Crespi & Hardt lowered their target price on shares of Forescout Technologies from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday. Robert W. Baird began coverage on shares of Forescout Technologies in a research note on Wednesday, October 17th. They set an “outperform” rating and a $42.00 target price for the company. UBS Group lifted their target price on shares of Forescout Technologies from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, Needham & Company LLC began coverage on shares of Forescout Technologies in a research note on Friday, September 21st. They set a “buy” rating and a $47.00 target price for the company.

NASDAQ FSCT traded down $1.59 during mid-day trading on Tuesday, reaching $25.40. 816,000 shares of the stock were exchanged, compared to its average volume of 490,648. Forescout Technologies has a one year low of $21.56 and a one year high of $40.96. The company has a market capitalization of $1.15 billion and a PE ratio of -3.20. The company has a quick ratio of 2.16, a current ratio of 2.17 and a debt-to-equity ratio of 0.10.

Forescout Technologies (NASDAQ:FSCT) last announced its earnings results on Thursday, November 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). Forescout Technologies had a negative return on equity of 96.85% and a negative net margin of 33.43%. The firm had revenue of $85.63 million for the quarter, compared to the consensus estimate of $79.08 million. During the same period in the prior year, the business earned ($0.21) EPS. Forescout Technologies’s quarterly revenue was up 23.5% on a year-over-year basis. As a group, equities analysts expect that Forescout Technologies will post -0.95 earnings per share for the current fiscal year.

In other Forescout Technologies news, Chairman Yehezkel Yeshurun sold 35,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $34.35, for a total value of $1,202,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Darren J. Milliken sold 10,000 shares of the firm’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $40.06, for a total transaction of $400,600.00. The disclosure for this sale can be found here. Insiders sold 1,068,829 shares of company stock valued at $39,631,105 over the last 90 days. Corporate insiders own 36.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. First Republic Investment Management Inc. acquired a new stake in Forescout Technologies in the third quarter worth $481,000. Renaissance Technologies LLC acquired a new stake in Forescout Technologies in the third quarter worth $10,437,000. Kornitzer Capital Management Inc. KS acquired a new stake in Forescout Technologies in the third quarter worth $7,266,000. Allianz Asset Management GmbH grew its holdings in Forescout Technologies by 505.7% in the third quarter. Allianz Asset Management GmbH now owns 305,318 shares of the company’s stock worth $11,529,000 after purchasing an additional 254,909 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Forescout Technologies in the third quarter worth $2,739,000. Institutional investors and hedge funds own 57.12% 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 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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Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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