Forescout Technologies (FSCT) PT Lowered to $40.00

Forescout Technologies (NASDAQ:FSCT) had its price objective reduced by Monness Crespi & Hardt from $43.00 to $40.00 in a research note published on Friday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on FSCT. Zacks Investment Research raised shares of Forescout Technologies from a hold rating to a buy rating and set a $32.00 target price for the company in a research report on Tuesday, October 23rd. Morgan Stanley set a $34.00 target price on shares of Forescout Technologies and gave the stock a hold rating in a research report on Friday, October 19th. Robert W. Baird started coverage on shares of Forescout Technologies in a research report on Wednesday, October 17th. They set an outperform rating and a $42.00 target price for the company. ValuEngine raised shares of Forescout Technologies from a hold rating to a buy rating in a research report on Tuesday, October 9th. Finally, Needham & Company LLC started coverage on shares of Forescout Technologies in a research report on Friday, September 21st. They set a buy rating and a $47.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $38.91.

Shares of FSCT stock traded down $0.52 on Friday, hitting $27.59. The company’s stock had a trading volume of 1,196,331 shares, compared to its average volume of 410,102. 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 fifty-two week low of $21.56 and a fifty-two week high of $40.96. The firm has a market cap of $1.17 billion and a PE ratio of -3.48.

Forescout Technologies (NASDAQ:FSCT) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.08). The company had revenue of $85.63 million for the quarter, compared to analyst estimates of $79.08 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. The company’s revenue was up 23.5% compared to the same quarter last year. As a group, analysts forecast that Forescout Technologies will post -0.95 EPS for the current fiscal year.

In other news, SVP Darren J. Milliken sold 10,000 shares of the business’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $40.06, for a total transaction of $400,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman David G. Dewalt sold 50,374 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $34.79, for a total transaction of $1,752,511.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,194,854 shares of company stock valued at $44,015,921. Company insiders own 36.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in shares of Forescout Technologies during the 3rd quarter worth about $4,792,000. BlackRock Inc. increased its holdings in shares of Forescout Technologies by 2.2% during the 3rd quarter. BlackRock Inc. now owns 2,143,076 shares of the company’s stock worth $80,923,000 after purchasing an additional 45,170 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Forescout Technologies by 17.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 136,295 shares of the company’s stock worth $5,146,000 after purchasing an additional 20,191 shares during the period. Swiss National Bank increased its holdings in shares of Forescout Technologies by 86.9% during the 3rd quarter. Swiss National Bank now owns 38,500 shares of the company’s stock worth $1,454,000 after purchasing an additional 17,900 shares during the period. Finally, Tygh Capital Management Inc. increased its holdings in shares of Forescout Technologies by 12.1% during the 3rd quarter. Tygh Capital Management Inc. now owns 156,821 shares of the company’s stock worth $5,922,000 after purchasing an additional 16,931 shares during the period. Institutional investors own 55.56% 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 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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