Forescout Technologies (NASDAQ:FSCT) Downgraded to “Hold” at Berenberg Bank

Berenberg Bank downgraded shares of Forescout Technologies (NASDAQ:FSCT) from a buy rating to a hold rating in a report released on Friday morning, The Fly reports. Berenberg Bank currently has $33.00 price objective on the stock.

FSCT has been the topic of several other reports. JPMorgan Chase & Co. downgraded shares of Forescout Technologies from an overweight rating to a neutral rating and lowered their price objective for the stock from $54.00 to $35.00 in a research report on Thursday, October 10th. FBN Securities set a $35.00 price objective on shares of Forescout Technologies and gave the stock a buy rating in a research report on Friday, October 11th. Robert W. Baird reissued a buy rating on shares of Forescout Technologies in a research report on Thursday. Piper Sandler reissued a neutral rating and set a $33.00 price objective (down from $45.00) on shares of Forescout Technologies in a research report on Thursday. Finally, Macquarie set a $33.00 price objective on shares of Forescout Technologies and gave the stock a hold rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $37.42.

NASDAQ:FSCT traded down $0.08 during midday trading on Friday, hitting $33.20. 3,367,243 shares of the company were exchanged, compared to its average volume of 1,856,720. The company has a fifty day simple moving average of $31.94 and a 200 day simple moving average of $33.81. Forescout Technologies has a fifty-two week low of $23.95 and a fifty-two week high of $46.43. 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 issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). Forescout Technologies had a negative return on equity of 112.57% and a negative net margin of 35.19%. The business had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $95.23 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Forescout Technologies will post -1.34 earnings per share for the current fiscal year.

In other news, Vice Chairman David G. Dewalt sold 41,559 shares of Forescout Technologies stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $31.52, for a total value of $1,309,939.68. Following the sale, the insider now owns 510,306 shares of the company’s stock, valued at $16,084,845.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Darren J. Milliken sold 3,870 shares of Forescout Technologies stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.57, for a total transaction of $133,785.90. Following the completion of the sale, the senior vice president now directly owns 45,576 shares in the company, valued at approximately $1,575,562.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 244,401 shares of company stock worth $8,283,322. Insiders own 13.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 during the last quarter. AQR Capital Management LLC purchased a new stake in Forescout Technologies during the 2nd quarter valued at about $216,000. Morgan Stanley grew its stake in Forescout Technologies by 62.5% during the 2nd quarter. Morgan Stanley now owns 329,541 shares of the company’s stock valued at $11,158,000 after acquiring an additional 126,766 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Forescout Technologies during the 2nd quarter valued at about $13,343,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Forescout Technologies during the 3rd quarter valued at about $675,000. Hedge funds and other institutional investors own 72.48% 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 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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The Fly

Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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