ForeScout Technologies (NASDAQ:FSCT) rose 2.8% during mid-day trading on Tuesday . The stock traded as high as $36.97 and last traded at $36.45. Approximately 293,341 shares changed hands during trading, an increase of 12% from the average daily volume of 261,432 shares. The stock had previously closed at $35.45.
FSCT has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of ForeScout Technologies from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Tuesday, April 10th. Bank of America raised their price target on shares of ForeScout Technologies from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Morgan Stanley set a $31.00 price target on shares of ForeScout Technologies and gave the stock a “hold” rating in a research note on Thursday, February 8th. FBN Securities initiated coverage on shares of ForeScout Technologies in a research note on Thursday, April 5th. They set an “outperform” rating for the company. Finally, Stephens initiated coverage on shares of ForeScout Technologies in a research note on Thursday, April 5th. They set an “overweight” rating and a $37.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. ForeScout Technologies has an average rating of “Buy” and an average target price of $32.88.
The company has a market cap of $1,394.36 and a price-to-earnings ratio of -4.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.75 and a current ratio of 1.77.
ForeScout Technologies (NASDAQ:FSCT) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.97). The company had revenue of $65.96 million for the quarter, compared to analyst estimates of $62.38 million. analysts expect that ForeScout Technologies will post -1.12 EPS for the current year.
In related news, Vice Chairman David G. Dewalt sold 251,870 shares of ForeScout Technologies stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $27.64, for a total value of $6,961,686.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Meritech Management Associates sold 1,014,140 shares of ForeScout Technologies stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $27.64, for a total transaction of $28,030,829.60. The disclosure for this sale can be found here. Insiders sold a total of 1,801,916 shares of company stock valued at $49,804,958 over the last quarter.
A number of institutional investors have recently added to or reduced their stakes in FSCT. Schwab Charles Investment Management Inc. purchased a new position in ForeScout Technologies in the 4th quarter valued at approximately $555,000. Gilder Gagnon Howe & Co. LLC purchased a new position in ForeScout Technologies in the 4th quarter valued at approximately $20,081,000. CI Investments Inc. bought a new position in ForeScout Technologies in the 4th quarter valued at $797,000. Emerald Advisers Inc. PA bought a new position in ForeScout Technologies in the 4th quarter valued at $11,318,000. Finally, Albert D Mason Inc. bought a new position in ForeScout Technologies in the 4th quarter valued at $596,000. Institutional investors and hedge funds own 35.33% of the company’s stock.
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About ForeScout Technologies
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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