Forescout Technologies (FSCT) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Forescout Technologies (NASDAQ:FSCT) from a hold rating to a buy rating in a research note released on Tuesday morning.

FSCT has been the topic of a number of other research reports. UBS Group boosted their price target on shares of Forescout Technologies from $40.00 to $42.00 and gave the stock a buy rating in a research report on Friday, August 10th. Zacks Investment Research upgraded shares of Forescout Technologies from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Forescout Technologies to $46.00 and gave the stock an overweight rating in a research report on Friday, August 10th. Needham & Company LLC began coverage on shares of Forescout Technologies in a research report on Friday, September 21st. They issued a buy rating and a $47.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Forescout Technologies from $33.00 to $38.00 and gave the stock a neutral rating in a research report on Tuesday, July 24th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $39.10.

Shares of NASDAQ FSCT traded up $0.49 during midday trading on Tuesday, reaching $30.33. The stock had a trading volume of 318,247 shares, compared to its average volume of 494,123. The company has a market capitalization of $1.58 billion and a P/E ratio of -3.82. Forescout Technologies has a twelve month low of $21.56 and a twelve month high of $40.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.16 and a current ratio of 2.17.

Forescout Technologies (NASDAQ:FSCT) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.19. The firm had revenue of $67.59 million during the quarter, compared to analyst estimates of $63.57 million. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter last year, the firm posted ($2.31) EPS. Analysts forecast that Forescout Technologies will post -0.95 earnings per share for the current year.

In related news, SVP Darren J. Milliken sold 10,000 shares of the business’s stock in a transaction on 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 available at this hyperlink. Also, Chairman Yehezkel Yeshurun sold 35,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $34.79, for a total transaction of $1,217,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,180,176 shares of company stock worth $43,623,256 in the last quarter. 36.20% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Forescout Technologies by 128.7% during the 2nd quarter. BlackRock Inc. now owns 2,097,906 shares of the company’s stock valued at $71,873,000 after purchasing an additional 1,180,601 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Forescout Technologies by 0.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 890,093 shares of the company’s stock valued at $30,495,000 after purchasing an additional 6,110 shares in the last quarter. Legal & General Group Plc increased its stake in Forescout Technologies by 3,211.5% during the 2nd quarter. Legal & General Group Plc now owns 690,449 shares of the company’s stock valued at $23,655,000 after purchasing an additional 669,599 shares in the last quarter. Emerald Advisers Inc. PA increased its stake in Forescout Technologies by 26.5% during the 2nd quarter. Emerald Advisers Inc. PA now owns 617,911 shares of the company’s stock valued at $21,170,000 after purchasing an additional 129,530 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in Forescout Technologies by 29.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 541,296 shares of the company’s stock valued at $18,545,000 after purchasing an additional 123,880 shares in the last quarter. Institutional investors own 54.40% 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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Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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