Forescout Technologies’ (FSCT) “Buy” Rating Reiterated at Robert W. Baird

Robert W. Baird reissued their buy rating on shares of Forescout Technologies (NASDAQ:FSCT) in a report released on Thursday, AnalystRatings.com reports.

Other analysts have also recently issued research reports about the stock. Macquarie set a $33.00 price target on shares of Forescout Technologies and gave the company a hold rating in a research report on Friday, October 11th. Monness Crespi & Hardt cut their price target on shares of Forescout Technologies from $49.00 to $39.00 and set a buy rating on the stock in a research report on Friday, October 11th. Morgan Stanley initiated coverage on shares of Forescout Technologies in a research report on Friday, November 8th. They set an overweight rating and a $37.00 price target on the stock. ValuEngine raised shares of Forescout Technologies from a hold rating to a buy rating in a research report on Tuesday, January 28th. Finally, BidaskClub cut shares of Forescout Technologies from a sell rating to a strong sell rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $37.82.

NASDAQ FSCT traded down $0.08 on Thursday, reaching $33.20. The company had a trading volume of 3,367,243 shares, compared to its average volume of 1,722,382. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -12.77 and a beta of 1.55. Forescout Technologies has a fifty-two week low of $23.95 and a fifty-two week high of $46.43. The business has a 50 day moving average of $31.94 and a two-hundred day moving average of $33.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 1.18.

Forescout Technologies (NASDAQ:FSCT) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). The company had revenue of $91.30 million during the quarter, compared to analyst estimates of $95.23 million. Forescout Technologies had a negative net margin of 35.27% and a negative return on equity of 101.79%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) earnings per share. As a group, research analysts predict that Forescout Technologies will post -2.57 earnings per share for the current fiscal year.

In other news, Vice Chairman David G. Dewalt sold 41,559 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $31.52, for a total transaction of $1,309,939.68. Following the transaction, the insider now owns 510,306 shares of the company’s stock, valued at approximately $16,084,845.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Yehezkel Yeshurun sold 39,909 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $35.10, for a total transaction of $1,400,805.90. Following the transaction, the chairman now directly owns 44,794 shares in the company, valued at approximately $1,572,269.40. The disclosure for this sale can be found here. Insiders have sold a total of 244,401 shares of company stock worth $8,283,322 in the last three months. Insiders own 13.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FSCT. Vanguard Group Inc. boosted its position in shares of Forescout Technologies by 27.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,838,049 shares of the company’s stock worth $62,236,000 after purchasing an additional 400,475 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Forescout Technologies during the 2nd quarter worth about $216,000. Morgan Stanley boosted its position in shares of Forescout Technologies by 62.5% during the 2nd quarter. Morgan Stanley now owns 329,541 shares of the company’s stock worth $11,158,000 after purchasing an additional 126,766 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Forescout Technologies during the 2nd quarter worth about $13,343,000. Finally, Assenagon Asset Management S.A. bought a new position in Forescout Technologies in the 3rd quarter valued at about $675,000. 72.48% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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