Forescout Technologies (FSCT) Releases Q4 Earnings Guidance

Forescout Technologies (NASDAQ:FSCT) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of (0.26-0.24) for the period, compared to the Thomson Reuters consensus estimate of ($0.28). The company issued revenue guidance of $75.8-78.8 million, compared to the consensus revenue estimate of $76.45 million.Forescout Technologies also updated its FY 2018 guidance to $-0.69–0.67 EPS.

Several brokerages recently issued reports on FSCT. Zacks Investment Research raised Forescout Technologies from a hold rating to a buy rating and set a $32.00 target price on the stock in a research report on Tuesday, October 23rd. Morgan Stanley set a $34.00 target price on Forescout Technologies and gave the company a hold rating in a research report on Friday, October 19th. Robert W. Baird began coverage on Forescout Technologies in a research report on Wednesday, October 17th. They set an outperform rating and a $42.00 target price on the stock. ValuEngine raised Forescout Technologies from a hold rating to a buy rating in a research report on Tuesday, October 9th. Finally, Needham & Company LLC began coverage on Forescout Technologies in a research report on Friday, September 21st. They set a buy rating and a $47.00 target price on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Forescout Technologies presently has a consensus rating of Buy and an average price target of $39.09.

FSCT stock traded up $0.13 during midday trading on Thursday, hitting $28.11. The company’s stock had a trading volume of 438,539 shares, compared to its average volume of 485,850. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 0.10. Forescout Technologies has a 1 year low of $21.56 and a 1 year high of $40.96. The stock has a market cap of $1.14 billion and a P/E ratio of -3.54.

Forescout Technologies (NASDAQ:FSCT) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($0.18) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.19. The business had revenue of $67.59 million during the quarter, compared to analysts’ expectations of $63.57 million. During the same period in the prior year, the firm posted ($2.31) EPS. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, analysts forecast that Forescout Technologies will post -0.95 earnings per share for the current fiscal year.

In other Forescout Technologies news, Vice Chairman David G. Dewalt sold 50,374 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $34.79, for a total value of $1,752,511.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Decesare sold 10,198 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $34.80, for a total value of $354,890.40. The disclosure for this sale can be found here. In the last three months, insiders sold 1,184,714 shares of company stock worth $43,727,977. Insiders own 36.20% of the company’s stock.

An institutional investor recently raised its position in Forescout Technologies stock. Bank of New York Mellon Corp raised its position in Forescout Technologies Inc (NASDAQ:FSCT) by 244.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,104 shares of the company’s stock after buying an additional 82,356 shares during the quarter. Bank of New York Mellon Corp owned about 0.28% of Forescout Technologies worth $3,977,000 at the end of the most recent reporting period. 55.56% of the stock is owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Forescout Technologies (NASDAQ:FSCT)

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