Forescout Technologies (NASDAQ:FSCT) Raised 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 report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $41.00 price target 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. “

Shares of FSCT stock opened at $38.20 on Thursday. The firm’s 50 day moving average is $33.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.23 and a current ratio of 1.24. The stock has a market capitalization of $1.73 billion, a PE ratio of -22.08 and a beta of 1.55. Forescout Technologies has a twelve month low of $22.01 and a twelve month high of $46.43.

Forescout Technologies (NASDAQ:FSCT) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.03. The company had revenue of $78.60 million during the quarter, compared to analysts’ expectations of $73.71 million. Forescout Technologies had a negative return on equity of 63.71% and a negative net margin of 25.80%. Forescout Technologies’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period last year, the business earned ($0.38) earnings per share. Research analysts anticipate that Forescout Technologies will post -1.85 EPS for the current year.

In other Forescout Technologies news, SVP Darren J. Milliken sold 3,870 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $32.43, for a total value of $125,504.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Enrique T. Salem sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $42.05, for a total value of $126,150.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,233 shares of company stock worth $3,752,212. 13.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Psagot Investment House Ltd. grew its holdings in Forescout Technologies by 41.0% in the fourth quarter. Psagot Investment House Ltd. now owns 1,141 shares of the company’s stock valued at $30,000 after purchasing an additional 332 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Forescout Technologies in the fourth quarter worth approximately $60,000. Parallel Advisors LLC boosted its stake in shares of Forescout Technologies by 105.6% in the first quarter. Parallel Advisors LLC now owns 2,445 shares of the company’s stock worth $102,000 after acquiring an additional 1,256 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Forescout Technologies by 57.1% in the fourth quarter. Acadian Asset Management LLC now owns 3,506 shares of the company’s stock worth $91,000 after acquiring an additional 1,274 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of Forescout Technologies in the first quarter worth approximately $199,000. 61.03% of the stock is currently 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 CounterACT that provides for visibility and control capabilities across campus information technology and Internet of Things (IoT) devices, operational technology devices, data center physical and virtual devices, and cloud virtual devices; and SilentDefense, which offers visibility and control capabilities within the operational technology portion of the network.

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