Forescout Technologies (NASDAQ:FSCT) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Forescout Technologies (NASDAQ:FSCT) from a hold rating to a buy rating in a research note released on Monday, February 4th.

A number of other brokerages have also commented on FSCT. Morgan Stanley set a $34.00 price target on shares of Forescout Technologies and gave the company a hold rating in a research note on Friday, October 19th. Zacks Investment Research lowered shares of Forescout Technologies from a hold rating to a sell rating in a research note on Tuesday, December 18th. Robert W. Baird started coverage on shares of Forescout Technologies in a research note on Wednesday, October 17th. They issued an outperform rating and a $42.00 target price for the company. Berenberg Bank started coverage on shares of Forescout Technologies in a research note on Thursday, November 29th. They issued a buy rating and a $41.00 target price for the company. Finally, Monness Crespi & Hardt reduced 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, November 9th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Forescout Technologies has a consensus rating of Buy and an average price target of $41.80.

FSCT stock traded up $1.72 during midday trading on Monday, reaching $43.26. 1,018,859 shares of the company’s stock traded hands, compared to its average volume of 597,331. The firm has a market capitalization of $1.85 billion, a PE ratio of -25.01 and a beta of 1.15. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.08. Forescout Technologies has a 52 week low of $22.01 and a 52 week high of $43.59.

Forescout Technologies (NASDAQ:FSCT) last announced its quarterly earnings results on Thursday, February 7th. The company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.24. The business had revenue of $84.73 million during the quarter, compared to analyst estimates of $77.84 million. Forescout Technologies had a negative net margin of 25.14% and a negative return on equity of 59.52%. Forescout Technologies’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) EPS. On average, equities analysts predict that Forescout Technologies will post -1.86 earnings per share for the current fiscal year.

In related news, insider Pedro Abreu sold 4,547 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $41.21, for a total transaction of $187,381.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Christopher Harms sold 7,957 shares of the stock in a transaction dated Tuesday, December 11th. The shares were sold at an average price of $26.30, for a total transaction of $209,269.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 630,176 shares of company stock valued at $22,518,731. Company insiders own 36.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Psagot Investment House Ltd. lifted its holdings in Forescout Technologies by 41.0% during 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Forescout Technologies by 151.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,381 shares of the company’s stock valued at $36,000 after purchasing an additional 831 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in Forescout Technologies during the fourth quarter valued at about $60,000. Pearl River Capital LLC purchased a new stake in Forescout Technologies during the fourth quarter valued at about $66,000. Finally, Sun Life Financial INC purchased a new stake in Forescout Technologies during the fourth quarter valued at about $89,000. Institutional investors own 55.15% 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.

See Also: Cost of equity and a company’s balance sheet

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Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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