Zacks Investment Research upgraded shares of ForeScout Technologies (NASDAQ:FSCT) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $35.00 price objective on the stock.
According to Zacks, “ForeScout Technologies, Inc. provides network security hardware and software products primarily in the United States, Europe, the Middle East, Africa, the Asia Pacific and Japan. Its products include CounterACT Platform, CounterACT Models, Extended Integration Modules, Open Integration Module and Other Products. The Company’s solutions include Network Access Control; Endpoint Compliance; Bring Your Own Device & Mobile Security for Enterprise; Vulnerability Management, Policy and Solutions and Advanced Network Threat Prevention and Cyber Defense Solutions. ForeScout Technologies, Inc. is headquartered in San Jose, California. “
Several other research firms have also recently issued reports on FSCT. Stephens began coverage on ForeScout Technologies in a report on Thursday, April 5th. They issued an overweight rating and a $37.00 price target on the stock. FBN Securities began coverage on ForeScout Technologies in a report on Thursday, April 5th. They set an outperform rating on the stock. Morgan Stanley set a $31.00 target price on ForeScout Technologies and gave the stock a hold rating in a report on Thursday, February 8th. Finally, Bank of America raised their target price on ForeScout Technologies from $35.00 to $36.00 and gave the stock a buy rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $32.88.
ForeScout Technologies (NASDAQ:FSCT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.97). The company had revenue of $65.96 million during the quarter, compared to analyst estimates of $62.38 million. equities analysts predict that ForeScout Technologies will post -1.12 earnings per share for the current fiscal year.
In other ForeScout Technologies news, Chairman Yehezkel Yeshurun sold 113,137 shares of the firm’s stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $27.64, for a total transaction of $3,127,106.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Decesare sold 210,000 shares of the firm’s stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $27.64, for a total value of $5,804,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,801,916 shares of company stock worth $49,804,958.
A number of institutional investors and hedge funds have recently modified their holdings of the business. American International Group Inc. bought a new position in shares of ForeScout Technologies during the 4th quarter valued at about $115,000. The Manufacturers Life Insurance Company bought a new position in shares of ForeScout Technologies during the 4th quarter valued at about $134,000. Keybank National Association OH bought a new position in shares of ForeScout Technologies during the 4th quarter valued at about $231,000. TIAA CREF Investment Management LLC bought a new position in shares of ForeScout Technologies during the 4th quarter valued at about $267,000. Finally, California State Teachers Retirement System bought a new position in shares of ForeScout Technologies during the 4th quarter valued at about $268,000. Hedge funds and other institutional investors own 35.33% of the company’s stock.
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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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