Forescout Technologies (FSCT) Price Target Lowered to $40.00 at Monness Crespi & Hardt

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Forescout Technologies (NASDAQ:FSCT) had its target price reduced by Monness Crespi & Hardt from $43.00 to $40.00 in a report issued on Friday, Marketbeat.com reports. They currently have a buy rating on the stock.

FSCT has been the topic of several other research reports. Zacks Investment Research lowered shares of Forescout Technologies from a buy rating to a hold rating in a research report on Wednesday, October 10th. Robert W. Baird initiated coverage on shares of Forescout Technologies in a research report on Wednesday, October 17th. They issued an outperform rating and a $42.00 price target on the stock. Needham & Company LLC initiated coverage on shares of Forescout Technologies in a research report on Friday, September 21st. They issued a buy rating and a $47.00 price target on the stock. Citigroup lifted their price target on shares of Forescout Technologies from $33.00 to $38.00 and gave the stock a neutral rating in a research report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Forescout Technologies to $46.00 and gave the stock an overweight rating in a research report on Friday, August 10th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $38.91.

Forescout Technologies stock traded down $0.52 during mid-day trading on Friday, hitting $27.59. The company’s stock had a trading volume of 1,196,331 shares, compared to its average volume of 410,102. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.16 and a current ratio of 2.17. The firm has a market cap of $1.17 billion and a price-to-earnings ratio of -3.48. Forescout Technologies has a twelve month low of $21.56 and a twelve month high of $40.96.

Forescout Technologies (NASDAQ:FSCT) last posted its quarterly earnings results on Thursday, November 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.08). The business had revenue of $85.63 million for the quarter, compared to analysts’ expectations of $79.08 million. The business’s revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. As a group, equities analysts predict that Forescout Technologies will post -0.95 EPS for the current fiscal year.

In other Forescout Technologies news, Vice Chairman David G. Dewalt sold 50,374 shares of Forescout Technologies stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $34.79, for a total transaction of $1,752,511.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Decesare sold 10,198 shares of Forescout Technologies stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $34.80, for a total transaction of $354,890.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,194,854 shares of company stock worth $44,015,921. Corporate insiders own 36.20% of the company’s stock.

Large investors have recently modified their holdings of the business. Fortaleza Asset Management Inc. acquired a new stake in shares of Forescout Technologies during the 2nd quarter valued at $107,000. Parallel Advisors LLC boosted its stake in shares of Forescout Technologies by 924.3% during the 3rd quarter. Parallel Advisors LLC now owns 3,370 shares of the company’s stock valued at $127,000 after buying an additional 3,041 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Forescout Technologies during the 2nd quarter valued at $140,000. SG Americas Securities LLC acquired a new stake in shares of Forescout Technologies during the 2nd quarter valued at $161,000. Finally, Royal Bank of Canada boosted its stake in shares of Forescout Technologies by 67,800.0% during the 1st quarter. Royal Bank of Canada now owns 5,432 shares of the company’s stock valued at $176,000 after buying an additional 5,424 shares during the period. 55.56% of the stock is owned by institutional investors.

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.

Further Reading: What is a stock split?

Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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