Forescout Technologies (NASDAQ:FSCT) Raised to “Buy” at ValuEngine

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Forescout Technologies (NASDAQ:FSCT) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, ValuEngine reports.

A number of other equities research analysts have also issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Forescout Technologies in a report on Thursday, November 7th. Zacks Investment Research upgraded shares of Forescout Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. UBS Group lowered shares of Forescout Technologies from a “buy” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $36.00 in a report on Wednesday, January 8th. Piper Jaffray Companies began coverage on shares of Forescout Technologies in a report on Monday, December 9th. They set an “overweight” rating and a $45.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered shares of Forescout Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $54.00 to $35.00 in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $38.30.

Forescout Technologies stock opened at $28.72 on Tuesday. The firm has a market cap of $1.39 billion, a PE ratio of -11.05 and a beta of 1.51. Forescout Technologies has a 52-week low of $23.95 and a 52-week high of $46.43. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $32.92 and its two-hundred day moving average is $34.28.

Forescout Technologies (NASDAQ:FSCT) last released its earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The business had revenue of $91.62 million for the quarter, compared to analyst estimates of $90.99 million. Forescout Technologies had a negative return on equity of 101.79% and a negative net margin of 35.27%. Forescout Technologies’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) earnings per share. On average, equities research analysts anticipate that Forescout Technologies will post -2.57 earnings per share for the current fiscal year.

In other news, SVP Darren J. Milliken sold 3,870 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.97, for a total value of $119,853.90. Also, CEO Michael Decesare sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,754,500.00. Following the completion of the sale, the chief executive officer now owns 679,991 shares in the company, valued at $23,860,884.19. The disclosure for this sale can be found here. Insiders sold a total of 252,271 shares of company stock worth $8,542,654 over the last 90 days. Company insiders own 13.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in FSCT. Northern Trust Corp raised its holdings in shares of Forescout Technologies by 10.8% in the 2nd quarter. Northern Trust Corp now owns 402,596 shares of the company’s stock valued at $13,632,000 after purchasing an additional 39,366 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Forescout Technologies by 46.3% in the 2nd quarter. BlackRock Inc. now owns 2,769,642 shares of the company’s stock valued at $93,780,000 after purchasing an additional 876,026 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Forescout Technologies by 27.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,838,049 shares of the company’s stock valued at $62,236,000 after purchasing an additional 400,475 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Forescout Technologies by 380.0% in the 2nd quarter. Bank of America Corp DE now owns 568,607 shares of the company’s stock valued at $19,253,000 after purchasing an additional 450,148 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Forescout Technologies in the 2nd quarter valued at $216,000. Institutional investors and hedge funds own 72.46% of the company’s stock.

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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Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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