Needham & Company LLC cut shares of Forescout Technologies (NASDAQ:FSCT) from a buy rating to a hold rating in a report released on Thursday morning, AnalystRatings.com reports.
A number of other brokerages also recently commented on FSCT. JPMorgan Chase & Co. downgraded shares of Forescout Technologies from an overweight rating to a neutral rating and decreased their price objective for the company from $54.00 to $35.00 in a research report on Thursday. Robert W. Baird reissued a buy rating and issued a $44.00 price objective on shares of Forescout Technologies in a research report on Thursday. ValuEngine downgraded shares of Forescout Technologies from a buy rating to a hold rating in a research report on Monday, September 30th. Zacks Investment Research raised shares of Forescout Technologies from a hold rating to a buy rating and set a $41.00 price objective for the company in a research report on Monday, August 12th. Finally, Macquarie assumed coverage on shares of Forescout Technologies in a research report on Tuesday, July 16th. They issued a neutral rating and a $41.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $41.60.
Shares of FSCT traded up $0.13 during midday trading on Thursday, reaching $25.57. The stock had a trading volume of 946,780 shares, compared to its average volume of 583,699. The firm has a 50 day simple moving average of $35.56 and a 200-day simple moving average of $36.49. Forescout Technologies has a one year low of $22.01 and a one year high of $46.43. The firm has a market cap of $1.18 billion, a PE ratio of -14.78 and a beta of 1.58. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27.
Forescout Technologies (NASDAQ:FSCT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.47. Forescout Technologies had a negative net margin of 28.14% and a negative return on equity of 73.42%. The company had revenue of $78.28 million during the quarter, compared to the consensus estimate of $77.22 million. During the same quarter last year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts forecast that Forescout Technologies will post -1.84 EPS for the current fiscal year.
In other news, Chairman Yehezkel Yeshurun sold 6,444 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $25.74, for a total transaction of $165,868.56. Also, insider Pedro Abreu sold 3,627 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $37.92, for a total transaction of $137,535.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,058 shares of company stock valued at $5,760,314. 13.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Forescout Technologies by 4.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 239,407 shares of the company’s stock worth $7,946,000 after buying an additional 9,140 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Forescout Technologies by 30.9% during the 2nd quarter. Wells Fargo & Company MN now owns 169,991 shares of the company’s stock worth $5,756,000 after buying an additional 40,146 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Forescout Technologies during the 2nd quarter worth about $20,434,000. Northern Trust Corp lifted its stake in shares of Forescout Technologies by 10.8% during the 2nd quarter. Northern Trust Corp now owns 402,596 shares of the company’s stock worth $13,632,000 after buying an additional 39,366 shares during the last quarter. Finally, Aperio Group LLC acquired a new stake in shares of Forescout Technologies during the 2nd quarter worth about $118,000. Institutional investors own 69.51% 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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