Zacks Investment Research upgraded shares of Forescout Technologies (NASDAQ:FSCT) from a hold rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $38.00 target price 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. “
A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Forescout Technologies to $46.00 and gave the stock an overweight rating in a report on Friday, August 10th. Citigroup raised their target price on shares of Forescout Technologies from $33.00 to $38.00 and gave the stock a neutral rating in a report on Tuesday, July 24th. UBS Group raised their target price on shares of Forescout Technologies from $40.00 to $42.00 and gave the stock a buy rating in a report on Friday, August 10th. Needham & Company LLC initiated coverage on shares of Forescout Technologies in a report on Friday, September 21st. They issued a buy rating and a $47.00 target price on the stock. Finally, Monness Crespi & Hardt initiated coverage on shares of Forescout Technologies in a report on Monday, July 9th. They issued a buy rating and a $42.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Forescout Technologies currently has an average rating of Buy and an average price target of $39.10.
NASDAQ FSCT traded up $0.49 during trading hours on Tuesday, reaching $30.33. The company’s stock had a trading volume of 318,247 shares, compared to its average volume of 494,123. 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 has a 52 week low of $21.56 and a 52 week high of $40.96. The stock has a market capitalization of $1.58 billion and a P/E ratio of -3.82.
Forescout Technologies (NASDAQ:FSCT) last issued its earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.19. The business 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 business earned ($2.31) EPS. The business’s revenue was up 35.2% on a year-over-year basis. As a group, equities research analysts expect that Forescout Technologies will post -0.95 earnings per share for the current year.
In other news, Chairman Yehezkel Yeshurun sold 35,000 shares of Forescout Technologies stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $34.79, for a total transaction of $1,217,650.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Amadeus Capital Partners Ltd sold 399,812 shares of Forescout Technologies stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,180,176 shares of company stock worth $43,623,256. Corporate insiders own 36.20% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HarbourVest Partners LLC bought a new stake in shares of Forescout Technologies during the second quarter valued at approximately $2,086,000. Cubist Systematic Strategies LLC raised its holdings in shares of Forescout Technologies by 51.6% during the second quarter. Cubist Systematic Strategies LLC now owns 9,520 shares of the company’s stock valued at $326,000 after buying an additional 3,241 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Forescout Technologies during the second quarter valued at approximately $140,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Forescout Technologies during the second quarter valued at approximately $307,000. Finally, Barclays PLC increased its stake in shares of Forescout Technologies by 1,951.7% during the first quarter. Barclays PLC now owns 35,843 shares of the company’s stock valued at $1,164,000 after acquiring an additional 34,096 shares during the period. 54.40% 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 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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