Forescout Technologies Inc (FSCT) Expected to Post Quarterly Sales of $79.66 Million

Analysts forecast that Forescout Technologies Inc (NASDAQ:FSCT) will post $79.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Forescout Technologies’ earnings, with the highest sales estimate coming in at $80.00 million and the lowest estimate coming in at $78.99 million. Forescout Technologies posted sales of $64.36 million during the same quarter last year, which suggests a positive year-over-year growth rate of 23.8%. The company is scheduled to announce its next earnings results on Thursday, December 6th.

According to Zacks, analysts expect that Forescout Technologies will report full-year sales of $283.56 million for the current financial year, with estimates ranging from $281.72 million to $285.00 million. For the next year, analysts expect that the firm will post sales of $343.99 million, with estimates ranging from $340.00 million to $347.22 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Forescout Technologies.

Forescout Technologies (NASDAQ:FSCT) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.19. The business had revenue of $67.59 million during the quarter, compared to analysts’ expectations of $63.57 million. During the same period last year, the company earned ($2.31) EPS. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis.

A number of research firms have recently weighed in on FSCT. UBS Group boosted their price objective on shares of Forescout Technologies from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research raised shares of Forescout Technologies from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Forescout Technologies to $46.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Needham & Company LLC began coverage on shares of Forescout Technologies in a research report on Friday, September 21st. They set a “buy” rating and a $47.00 price target for the company. Finally, Citigroup increased their price objective on shares of Forescout Technologies from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Forescout Technologies has a consensus rating of “Buy” and an average price target of $39.50.

Shares of NASDAQ FSCT opened at $38.64 on Friday. Forescout Technologies has a 12-month low of $21.56 and a 12-month high of $40.96. The stock has a market capitalization of $1.69 billion and a price-to-earnings ratio of -4.87. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 0.10.

In other news, major shareholder Amadeus Capital Partners Ltd sold 399,812 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $37.63, for a total value of $15,044,925.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher Harms sold 16,023 shares of the stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $4.94, for a total transaction of $79,153.62. The disclosure for this sale can be found here. Insiders sold 1,143,969 shares of company stock valued at $42,061,724 in the last three months. Company insiders own 36.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in FSCT. Schwab Charles Investment Management Inc. boosted its stake in shares of Forescout Technologies by 33.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 23,207 shares of the company’s stock valued at $753,000 after purchasing an additional 5,819 shares during the period. Northern Trust Corp boosted its stake in shares of Forescout Technologies by 2.8% in the first quarter. Northern Trust Corp now owns 70,862 shares of the company’s stock valued at $2,300,000 after purchasing an additional 1,922 shares during the period. BlackRock Inc. boosted its stake in shares of Forescout Technologies by 98.9% in the first quarter. BlackRock Inc. now owns 917,305 shares of the company’s stock valued at $29,757,000 after purchasing an additional 456,110 shares during the period. Spark Investment Management LLC purchased a new position in shares of Forescout Technologies in the first quarter valued at $496,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Forescout Technologies by 264.3% in the first quarter. JPMorgan Chase & Co. now owns 147,465 shares of the company’s stock valued at $4,783,000 after purchasing an additional 106,989 shares during the period. Institutional investors and hedge funds own 54.40% 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.

Featured Story: Determine Your Level of Risk Tolerance

Get a free copy of the Zacks research report on Forescout Technologies (FSCT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Forescout Technologies (NASDAQ:FSCT)

Receive News & Ratings for Forescout Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forescout Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply