Forescout Technologies Inc (FSCT) Receives Average Rating of “Buy” from Analysts

Shares of Forescout Technologies Inc (NASDAQ:FSCT) have earned an average recommendation of “Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $39.22.

A number of research analysts have recently weighed in on FSCT shares. JPMorgan Chase & Co. raised their price objective on shares of Forescout Technologies to $46.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Citigroup raised their price objective on shares of Forescout Technologies from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 24th. Zacks Investment Research raised shares of Forescout Technologies from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, July 24th. UBS Group raised their price objective 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 started coverage on shares of Forescout Technologies in a research note on Friday, September 21st. They set a “buy” rating and a $47.00 price objective for the company.

Shares of FSCT traded down $0.30 during mid-day trading on Friday, reaching $29.92. 252,984 shares of the company’s stock were exchanged, compared to its average volume of 493,757. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.17 and a quick ratio of 2.16. Forescout Technologies has a 52-week low of $21.56 and a 52-week high of $40.96. The stock has a market cap of $1.58 billion and a price-to-earnings ratio of -3.77.

Forescout Technologies (NASDAQ:FSCT) last issued its quarterly earnings data on Thursday, August 9th. The company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.19. The business had revenue of $67.59 million for the quarter, compared to analysts’ expectations of $63.57 million. During the same period last year, the business earned ($2.31) earnings per share. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. On average, equities analysts expect that Forescout Technologies will post -0.95 earnings per share for the current fiscal year.

In related news, Director Enrique T. Salem sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $34.34, for a total transaction of $103,020.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Darren J. Milliken sold 3,870 shares of the firm’s stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $30.15, for a total transaction of $116,680.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,180,176 shares of company stock worth $43,623,256. 36.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC boosted its position in Forescout Technologies by 24.4% during the third quarter. Essex Investment Management Co. LLC now owns 10,783 shares of the company’s stock worth $407,000 after acquiring an additional 2,116 shares during the last quarter. Northern Trust Corp boosted its position in Forescout Technologies by 355.3% during the second quarter. Northern Trust Corp now owns 322,634 shares of the company’s stock worth $11,053,000 after acquiring an additional 251,772 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Forescout Technologies by 244.0% during the second quarter. Bank of New York Mellon Corp now owns 116,104 shares of the company’s stock worth $3,977,000 after acquiring an additional 82,356 shares during the last quarter. Millennium Management LLC boosted its position in Forescout Technologies by 100.1% during the second quarter. Millennium Management LLC now owns 248,659 shares of the company’s stock worth $8,519,000 after acquiring an additional 124,368 shares during the last quarter. Finally, Trustees of Princeton University acquired a new stake in Forescout Technologies during the second quarter worth approximately $555,000. Hedge funds and other institutional investors own 54.40% 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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Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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