Forescout Technologies (NASDAQ:FSCT) Downgraded by ValuEngine to Hold

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ValuEngine downgraded shares of Forescout Technologies (NASDAQ:FSCT) from a buy rating to a hold rating in a research report sent to investors on Friday morning, ValuEngine reports.

Several other equities analysts have also commented on FSCT. Macquarie set a $33.00 target price on Forescout Technologies and gave the company a hold rating in a report on Friday, October 11th. BidaskClub lowered Forescout Technologies from a sell rating to a strong sell rating in a report on Wednesday. Berenberg Bank lowered Forescout Technologies from a buy rating to a hold rating and set a $33.00 target price for the company. in a report on Friday. Needham & Company LLC reaffirmed a hold rating on shares of Forescout Technologies in a report on Thursday, November 7th. Finally, Monness Crespi & Hardt downgraded Forescout Technologies from a buy rating to a neutral rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $37.42.

Shares of NASDAQ:FSCT traded down $0.08 during trading on Friday, hitting $33.20. 3,367,243 shares of the company traded hands, compared to its average volume of 1,856,720. The business’s fifty day moving average is $31.94 and its 200-day moving average is $33.81. Forescout Technologies has a one year low of $23.95 and a one year high of $46.43. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.38.

Forescout Technologies (NASDAQ:FSCT) last posted its earnings results on Thursday, February 6th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The company had revenue of $91.30 million for the quarter, compared to the consensus estimate of $95.23 million. Forescout Technologies had a negative net margin of 35.19% and a negative return on equity of 112.57%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. Analysts predict that Forescout Technologies will post -1.34 EPS for the current year.

In other Forescout Technologies news, CFO Christopher Harms sold 9,815 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $33.56, for a total value of $329,391.40. Following the completion of the sale, the chief financial officer now directly owns 155,444 shares in the company, valued at $5,216,700.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Decesare sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $35.09, for a total value of $1,754,500.00. Following the completion of the sale, the chief executive officer now owns 679,991 shares of the company’s stock, valued at $23,860,884.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 244,401 shares of company stock valued at $8,283,322. Insiders own 13.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position in Forescout Technologies by 5.5% in the fourth quarter. Victory Capital Management Inc. now owns 7,220 shares of the company’s stock worth $237,000 after purchasing an additional 379 shares during the period. Rhumbline Advisers increased its stake in shares of Forescout Technologies by 1.2% in the third quarter. Rhumbline Advisers now owns 51,083 shares of the company’s stock worth $1,937,000 after acquiring an additional 590 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Forescout Technologies in the third quarter worth $25,000. Russell Investments Group Ltd. acquired a new position in shares of Forescout Technologies in the third quarter worth $77,000. Finally, California State Teachers Retirement System increased its stake in shares of Forescout Technologies by 3.4% in the third quarter. California State Teachers Retirement System now owns 64,628 shares of the company’s stock worth $2,451,000 after acquiring an additional 2,126 shares during the last quarter. Hedge funds and other institutional investors own 72.48% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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