ForeScout Technologies’ (NASDAQ:FSCT) lock-up period is set to end on Wednesday, April 25th. ForeScout Technologies had issued 5,280,000 shares in its IPO on October 27th. The total size of the offering was $116,160,000 based on an initial share price of $22.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Several research analysts have commented on the stock. Morgan Stanley set a $31.00 price target on shares of ForeScout Technologies and gave the stock a “hold” rating in a report on Thursday, February 8th. Stephens assumed coverage on shares of ForeScout Technologies in a report on Thursday, April 5th. They set an “overweight” rating and a $37.00 price target for the company. Zacks Investment Research upgraded shares of ForeScout Technologies from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Tuesday, April 10th. FBN Securities assumed coverage on shares of ForeScout Technologies in a report on Thursday, April 5th. They set an “outperform” rating for the company. Finally, Bank of America reiterated a “buy” rating and set a $35.00 price target (up previously 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. ForeScout Technologies currently has an average rating of “Buy” and a consensus price target of $32.88.
Shares of ForeScout Technologies stock opened at $36.10 on Friday. ForeScout Technologies has a 12-month low of $21.56 and a 12-month high of $37.81. The company has a quick ratio of 1.75, a current ratio of 1.77 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1,410.49 and a PE ratio of -4.55.
ForeScout Technologies (NASDAQ:FSCT) last issued its earnings results on Wednesday, February 7th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.97). The firm had revenue of $65.96 million for the quarter, compared to analyst estimates of $62.38 million. research analysts expect that ForeScout Technologies will post -1.12 earnings per share for the current year.
In other news, CFO Christopher Harms sold 46,169 shares of the company’s stock in a transaction on Friday, March 23rd. The shares were sold at an average price of $27.64, for a total value of $1,276,111.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Decesare sold 210,000 shares of the company’s stock in a transaction on Friday, March 23rd. The shares were sold at an average price of $27.64, for a total transaction of $5,804,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,801,916 shares of company stock valued at $49,804,958.
Several institutional investors have recently modified their holdings of the company. American International Group Inc. acquired a new position in shares of ForeScout Technologies in the 4th quarter valued at $115,000. The Manufacturers Life Insurance Company acquired a new position in shares of ForeScout Technologies in the 4th quarter valued at $134,000. Keybank National Association OH acquired a new position in shares of ForeScout Technologies in the 4th quarter valued at $231,000. TIAA CREF Investment Management LLC acquired a new position in shares of ForeScout Technologies in the 4th quarter valued at $267,000. Finally, California State Teachers Retirement System purchased a new stake in ForeScout Technologies in the 4th quarter valued at $268,000. Institutional investors and hedge funds own 35.33% of the company’s stock.
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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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