Forescout Technologies (NASDAQ:FSCT) Stock Rating Lowered by BidaskClub

Forescout Technologies (NASDAQ:FSCT) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

FSCT has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Forescout Technologies in a research report on Thursday, November 7th. Robert W. Baird set a $44.00 price target on Forescout Technologies and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley initiated coverage on Forescout Technologies in a research report on Friday, November 8th. They set an “overweight” rating and a $37.00 price target for the company. UBS Group downgraded Forescout Technologies from a “buy” rating to a “neutral” rating and upped their price target for the stock from $33.00 to $36.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. downgraded Forescout Technologies from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $54.00 to $35.00 in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $37.82.

Shares of FSCT traded down $0.08 on Wednesday, hitting $33.20. The company’s stock had a trading volume of 3,367,243 shares, compared to its average volume of 871,909. Forescout Technologies has a fifty-two week low of $23.95 and a fifty-two week 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. The firm’s fifty day moving average price is $31.95 and its 200-day moving average price is $33.84. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -12.77 and a beta of 1.55.

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

In related news, SVP Darren J. Milliken sold 3,870 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.57, for a total value of $133,785.90. Following the sale, the senior vice president now owns 45,576 shares in the company, valued at approximately $1,575,562.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Yehezkel Yeshurun sold 39,909 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $35.10, for a total value of $1,400,805.90. Following the completion of the sale, the chairman now owns 44,794 shares in the company, valued at approximately $1,572,269.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 244,401 shares of company stock worth $8,283,322. Company insiders own 13.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of FSCT. Vanguard Group Inc. raised its stake in Forescout Technologies by 27.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,838,049 shares of the company’s stock valued at $62,236,000 after acquiring an additional 400,475 shares during the period. AQR Capital Management LLC bought a new stake in Forescout Technologies in the 2nd quarter valued at $216,000. Morgan Stanley raised its stake in Forescout Technologies by 62.5% in 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 during the period. Nuveen Asset Management LLC acquired a new position in Forescout Technologies in the 2nd quarter valued at $13,343,000. Finally, Assenagon Asset Management S.A. acquired a new position in Forescout Technologies in the 3rd quarter valued at $675,000. Institutional investors and hedge funds 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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Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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