Analysts Expect Forescout Technologies Inc (NASDAQ:FSCT) Will Post Quarterly Sales of $77.27 Million

Equities analysts expect Forescout Technologies Inc (NASDAQ:FSCT) to report sales of $77.27 million for the current quarter, Zacks reports. Three analysts have issued estimates for Forescout Technologies’ earnings, with the lowest sales estimate coming in at $76.56 million and the highest estimate coming in at $78.20 million. Forescout Technologies reported sales of $67.59 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.3%. The business is expected to announce its next quarterly earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Forescout Technologies will report full-year sales of $371.89 million for the current fiscal year, with estimates ranging from $368.63 million to $374.80 million. For the next year, analysts forecast that the business will report sales of $448.32 million, with estimates ranging from $445.13 million to $450.15 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Forescout Technologies.

Forescout Technologies (NASDAQ:FSCT) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. Forescout Technologies had a negative return on equity of 63.71% and a negative net margin of 25.80%. The company had revenue of $78.60 million during the quarter, compared to analysts’ expectations of $73.71 million. During the same period last year, the business posted ($0.38) earnings per share. The firm’s revenue was up 31.7% compared to the same quarter last year.

FSCT has been the subject of a number of research analyst reports. Monness Crespi & Hardt reiterated a “buy” rating and issued a $49.00 price target (up from $42.00) on shares of Forescout Technologies in a research note on Tuesday, March 5th. UBS Group increased their price target on Forescout Technologies from $43.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Morgan Stanley set a $46.00 price target on Forescout Technologies and gave the company a “buy” rating in a research note on Tuesday, March 5th. Robert W. Baird reiterated a “buy” rating and issued a $44.00 price target on shares of Forescout Technologies in a research note on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target (up from $47.00) on shares of Forescout Technologies in a research note on Monday, March 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $45.78.

Forescout Technologies stock opened at $33.00 on Wednesday. The company has a 50-day simple moving average of $33.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.23 and a current ratio of 1.24. Forescout Technologies has a one year low of $22.01 and a one year high of $46.43. The stock has a market capitalization of $1.49 billion, a PE ratio of -19.08 and a beta of 1.66.

In other news, CFO Christopher Harms sold 6,239 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $41.41, for a total value of $258,356.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Decesare sold 10,198 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $41.38, for a total value of $421,993.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,202 shares of company stock valued at $3,278,504. Company insiders own 13.80% of the company’s stock.

Large investors have recently made changes to their positions in the company. Psagot Investment House Ltd. raised its stake in shares of Forescout Technologies by 41.0% in the fourth quarter. Psagot Investment House Ltd. now owns 1,141 shares of the company’s stock worth $30,000 after purchasing an additional 332 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Forescout Technologies during the fourth quarter valued at approximately $60,000. Parallel Advisors LLC raised its position in Forescout Technologies by 105.6% during the first quarter. Parallel Advisors LLC now owns 2,445 shares of the company’s stock valued at $102,000 after acquiring an additional 1,256 shares in the last quarter. Acadian Asset Management LLC raised its position in Forescout Technologies by 57.1% during the fourth quarter. Acadian Asset Management LLC now owns 3,506 shares of the company’s stock valued at $91,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in Forescout Technologies during the first quarter valued at approximately $199,000. Hedge funds and other institutional investors own 61.03% of the company’s stock.

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 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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