Forescout Technologies (FSCT) Rating Reiterated by Needham & Company LLC

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Needham & Company LLC reissued their buy rating on shares of Forescout Technologies (NASDAQ:FSCT) in a research report report published on Monday, MarketBeat Ratings reports. The firm currently has a $50.00 target price on the stock, up from their previous target price of $47.00.

A number of other brokerages also recently commented on FSCT. Monness Crespi & Hardt reiterated a buy rating and issued a $49.00 price objective (up previously from $42.00) on shares of Forescout Technologies in a research report on Tuesday, March 5th. UBS Group raised their price objective on Forescout Technologies from $43.00 to $52.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Robert W. Baird reiterated a buy rating and issued a $44.00 price objective on shares of Forescout Technologies in a research report on Wednesday, March 6th. Morgan Stanley set a $46.00 price objective on Forescout Technologies and gave the stock a buy rating in a research report on Tuesday, March 5th. Finally, Zacks Investment Research downgraded Forescout Technologies from a buy rating to a hold rating in a research report on Tuesday, February 12th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $44.40.

Shares of NASDAQ:FSCT opened at $43.97 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. Forescout Technologies has a twelve month low of $22.01 and a twelve month high of $44.70. The company has a market cap of $1.91 billion, a P/E ratio of -25.42 and a beta of 1.42.

Forescout Technologies (NASDAQ:FSCT) last announced its quarterly earnings data on Thursday, February 7th. The company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.24. Forescout Technologies had a negative return on equity of 58.44% and a negative net margin of 25.14%. The company had revenue of $84.73 million during the quarter, compared to the consensus estimate of $77.84 million. During the same quarter last year, the company earned ($0.13) EPS. The company’s quarterly revenue was up 34.7% on a year-over-year basis. On average, equities research analysts forecast that Forescout Technologies will post -1.86 earnings per share for the current fiscal year.

In related news, Director T Kent Elliott sold 30,453 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $42.49, for a total transaction of $1,293,947.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pedro Abreu sold 6,969 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $26.34, for a total value of $183,563.46. The disclosure for this sale can be found here. Insiders have sold a total of 629,994 shares of company stock valued at $23,357,193 in the last 90 days. 36.20% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of FSCT. Bank of America Corp DE lifted its position in shares of Forescout Technologies by 58.2% during the 2nd quarter. Bank of America Corp DE now owns 50,583 shares of the company’s stock worth $1,733,000 after buying an additional 18,617 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in Forescout Technologies during the 3rd quarter valued at $209,000. US Bancorp DE increased its holdings in Forescout Technologies by 3,291.1% during the 3rd quarter. US Bancorp DE now owns 28,824 shares of the company’s stock valued at $1,088,000 after purchasing an additional 27,974 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Forescout Technologies by 36.0% during the 3rd quarter. Wells Fargo & Company MN now owns 39,236 shares of the company’s stock valued at $1,482,000 after purchasing an additional 10,394 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Forescout Technologies by 1,174.8% during the 3rd quarter. SG Americas Securities LLC now owns 60,043 shares of the company’s stock valued at $2,267,000 after purchasing an additional 55,333 shares in the last quarter. Institutional investors and hedge funds own 59.42% 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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