Forescout Technologies Inc (NASDAQ:FSCT) Expected to Post Quarterly Sales of $95.50 Million

Analysts predict that Forescout Technologies Inc (NASDAQ:FSCT) will report sales of $95.50 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Forescout Technologies’ earnings, with the lowest sales estimate coming in at $90.98 million and the highest estimate coming in at $100.01 million. Forescout Technologies posted sales of $85.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.5%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, November 6th.

According to Zacks, analysts expect that Forescout Technologies will report full-year sales of $363.26 million for the current year, with estimates ranging from $344.89 million to $375.00 million. For the next financial year, analysts forecast that the company will report sales of $427.34 million, with estimates ranging from $384.81 million to $452.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Forescout Technologies.

Forescout Technologies (NASDAQ:FSCT) last released its earnings results on Wednesday, August 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.47. The company had revenue of $78.28 million for the quarter, compared to analyst estimates of $77.22 million. Forescout Technologies had a negative net margin of 28.14% and a negative return on equity of 73.42%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.18) EPS.

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Forescout Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $54.00 to $35.00 in a research note on Thursday, October 10th. Needham & Company LLC downgraded shares of Forescout Technologies from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. ValuEngine raised shares of Forescout Technologies from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. Macquarie set a $33.00 target price on shares of Forescout Technologies and gave the company a “hold” rating in a report on Friday, October 11th. Finally, Zacks Investment Research downgraded shares of Forescout Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Forescout Technologies presently has a consensus rating of “Buy” and an average price target of $39.70.

Shares of Forescout Technologies stock traded up $2.05 on Friday, hitting $27.50. 494,447 shares of the company traded hands, compared to its average volume of 932,396. The stock’s 50 day moving average price is $34.87 and its 200-day moving average price is $36.17. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 0.27. Forescout Technologies has a 52 week low of $22.01 and a 52 week high of $46.43. The company has a market cap of $1.24 billion, a PE ratio of -15.90 and a beta of 1.58.

In other Forescout Technologies news, insider Pedro Abreu sold 1,014 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $116,610.00. Following the completion of the transaction, the insider now directly owns 32,628 shares in the company, valued at $3,752,220. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman David G. Dewalt sold 41,559 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $35.14, for a total value of $1,460,383.26. Following the transaction, the insider now owns 555,112 shares of the company’s stock, valued at $19,506,635.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,873 shares of company stock worth $6,017,369. 13.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Albert D Mason Inc. lifted its holdings in shares of Forescout Technologies by 5.5% during the second quarter. Albert D Mason Inc. now owns 18,775 shares of the company’s stock valued at $636,000 after acquiring an additional 985 shares during the period. Delek Group Ltd. lifted its stake in Forescout Technologies by 7.2% in the 2nd quarter. Delek Group Ltd. now owns 18,566 shares of the company’s stock valued at $614,000 after acquiring an additional 1,255 shares in the last quarter. Van ECK Associates Corp lifted its stake in Forescout Technologies by 15.5% in the 2nd quarter. Van ECK Associates Corp now owns 11,821 shares of the company’s stock valued at $400,000 after acquiring an additional 1,586 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Forescout Technologies by 202.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,082 shares of the company’s stock valued at $104,000 after acquiring an additional 2,064 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in Forescout Technologies in the 2nd quarter valued at approximately $78,000. Institutional investors own 69.51% 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.

See Also: What is Cost of Debt?

Get a free copy of the Zacks research report on Forescout Technologies (FSCT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Forescout Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forescout Technologies and related companies with MarketBeat.com's FREE daily email newsletter.