Forescout Technologies (NASDAQ:FSCT) Rating Increased to Buy at Zacks Investment Research

Forescout Technologies (NASDAQ:FSCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage currently has a $41.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 7.36% from the company’s current price.

According to Zacks, “ForeScout Technologies, Inc. provides network security hardware and software products primarily in the United States, Europe, the Middle East, Africa, the Asia Pacific and Japan. Its products include CounterACT Platform, CounterACT Models, Extended Integration Modules, Open Integration Module and Other Products. The Company’s solutions include Network Access Control; Endpoint Compliance; Bring Your Own Device & Mobile Security for Enterprise; Vulnerability Management, Policy and Solutions and Advanced Network Threat Prevention and Cyber Defense Solutions. ForeScout Technologies, Inc. is headquartered in San Jose, California. “

FSCT stock traded up $0.59 during midday trading on Thursday, reaching $38.19. 11,788 shares of the company were exchanged, compared to its average volume of 585,547. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.24 and a quick ratio of 1.23. The stock’s 50-day simple moving average is $33.29. Forescout Technologies has a one year low of $22.01 and a one year high of $46.43. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -21.87 and a beta of 1.55.

Forescout Technologies (NASDAQ:FSCT) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.41) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.03. Forescout Technologies had a negative net margin of 25.80% and a negative return on equity of 63.71%. The firm had revenue of $78.60 million during the quarter, compared to analysts’ expectations of $73.71 million. During the same period in the previous year, the business posted ($0.38) earnings per share. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, research analysts expect that Forescout Technologies will post -1.85 EPS for the current year.

In other Forescout Technologies news, SVP Darren J. Milliken sold 3,870 shares of Forescout Technologies stock in a transaction on Friday, April 12th. The shares were sold at an average price of $40.97, for a total transaction of $158,553.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique T. Salem sold 3,000 shares of Forescout Technologies stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $42.05, for a total transaction of $126,150.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,233 shares of company stock valued at $3,762,855. Company insiders own 13.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FSCT. Weiss Multi Strategy Advisers LLC lifted its holdings in shares of Forescout Technologies by 165.3% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 344,871 shares of the company’s stock worth $8,963,000 after buying an additional 214,871 shares in the last quarter. Polar Capital LLP acquired a new stake in shares of Forescout Technologies during the fourth quarter worth $5,295,000. Columbus Circle Investors acquired a new stake in shares of Forescout Technologies during the first quarter worth $6,153,000. Deutsche Bank AG lifted its holdings in shares of Forescout Technologies by 41.9% during the fourth quarter. Deutsche Bank AG now owns 401,619 shares of the company’s stock worth $10,437,000 after buying an additional 118,600 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Forescout Technologies by 92.6% during the fourth quarter. Millennium Management LLC now owns 214,634 shares of the company’s stock worth $5,578,000 after buying an additional 103,189 shares in the last quarter. 61.03% of the stock is owned by institutional investors.

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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