Zacks Investment Research upgraded shares of ForeScout Technologies (NASDAQ:FSCT) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $35.00 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. “
Other equities research analysts also recently issued reports about the stock. Morgan Stanley set a $31.00 price objective on shares of ForeScout Technologies and gave the stock a hold rating in a research report on Thursday, February 8th. Stephens initiated coverage on shares of ForeScout Technologies in a report on Thursday, April 5th. They set an overweight rating and a $37.00 target price on the stock. FBN Securities initiated coverage on shares of ForeScout Technologies in a report on Thursday, April 5th. They set an outperform rating on the stock. Finally, Bank of America reaffirmed a buy rating and set a $35.00 target price (up from $30.00) on shares of ForeScout Technologies in a report on Thursday, December 28th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and seven 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 $32.88.
Shares of FSCT stock opened at $32.27 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.77 and a quick ratio of 1.75. The company has a market cap of $1,289.81 and a price-to-earnings ratio of -4.07. ForeScout Technologies has a 12-month low of $21.56 and a 12-month high of $37.79.
ForeScout Technologies (NASDAQ:FSCT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.97). The business had revenue of $65.96 million for the quarter, compared to analysts’ expectations of $62.38 million. sell-side analysts anticipate that ForeScout Technologies will post -1.12 EPS for the current fiscal year.
In related news, CEO Michael Decesare sold 210,000 shares of ForeScout Technologies stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $27.64, for a total value of $5,804,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Meritech Management Associates sold 1,014,140 shares of ForeScout Technologies stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $27.64, for a total transaction of $28,030,829.60. The disclosure for this sale can be found here. Insiders have sold 1,801,916 shares of company stock worth $49,804,958 over the last ninety days.
Large investors have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC bought a new position in ForeScout Technologies in the fourth quarter valued at approximately $20,081,000. Albert D Mason Inc. bought a new stake in shares of ForeScout Technologies during the fourth quarter worth $596,000. HBK Investments L P bought a new stake in shares of ForeScout Technologies during the fourth quarter worth $3,986,000. Bain Capital Public Equity Management LLC bought a new stake in shares of ForeScout Technologies during the fourth quarter worth $3,986,000. Finally, Keybank National Association OH bought a new stake in shares of ForeScout Technologies during the fourth quarter worth $231,000. 35.33% of the stock is currently owned by institutional investors and hedge funds.
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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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