Forescout Technologies (FSCT) Issues Quarterly Earnings Results

Forescout Technologies (NASDAQ:FSCT) released its quarterly earnings data on Thursday. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.08), Morningstar.com reports. The business had revenue of $85.63 million for the quarter, compared to analyst estimates of $79.08 million. The firm’s revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) earnings per share.

Shares of Forescout Technologies stock traded down $0.52 on Friday, reaching $27.59. The stock had a trading volume of 1,196,331 shares, compared to its average volume of 489,108. Forescout Technologies has a 1 year low of $21.56 and a 1 year high of $40.96. The company has a market cap of $1.14 billion and a price-to-earnings ratio of -3.48. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 0.10.

In related news, Chairman Yehezkel Yeshurun sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $34.79, for a total value of $1,217,650.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Amadeus Capital Partners Ltd sold 44,102 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $37.32, for a total transaction of $1,645,886.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,184,714 shares of company stock worth $43,727,977. Insiders own 36.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Fortaleza Asset Management Inc. bought a new position in shares of Forescout Technologies in the second quarter worth approximately $107,000. Parallel Advisors LLC increased its position in shares of Forescout Technologies by 924.3% in the third quarter. Parallel Advisors LLC now owns 3,370 shares of the company’s stock worth $127,000 after purchasing an additional 3,041 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Forescout Technologies in the second quarter worth approximately $140,000. SG Americas Securities LLC bought a new position in shares of Forescout Technologies in the second quarter worth approximately $161,000. Finally, Royal Bank of Canada increased its position in shares of Forescout Technologies by 67,800.0% in the first quarter. Royal Bank of Canada now owns 5,432 shares of the company’s stock worth $176,000 after purchasing an additional 5,424 shares during the last quarter. Institutional investors own 55.56% of the company’s stock.

Several equities research analysts have commented on the stock. Monness Crespi & Hardt dropped their price objective on shares of Forescout Technologies from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday. Zacks Investment Research raised shares of Forescout Technologies from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, October 23rd. Morgan Stanley set a $34.00 price objective on shares of Forescout Technologies and gave the company a “hold” rating in a report on Friday, October 19th. Robert W. Baird initiated coverage on shares of Forescout Technologies in a report on Wednesday, October 17th. They set an “outperform” rating and a $42.00 price objective on the stock. Finally, ValuEngine raised shares of Forescout Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $38.91.

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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 ForeScout CounterACT agentless technology that discovers, classifies, and assesses IP-based devices; ForeScout extended modules, which represent integrations across vulnerability assessment, advanced threat detection, security incidence and event management, enterprise mobility management, endpoint protection and endpoint detection and response, next generation firewall, privileged access management, and IT systems management vendors, as well as compliance; and ForeScout CounterACT Enterprise Manager, a centralized security management solution for the control of various appliances deployed on an end-customer network, as well as maintenance and professional services.

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Earnings History for Forescout Technologies (NASDAQ:FSCT)

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