Investment analysts at Robert W. Baird initiated coverage on shares of Forescout Technologies (NASDAQ:FSCT) in a research note issued on Wednesday, October 17th, MarketBeat reports. The brokerage set an “outperform” rating and a $42.00 price target on the stock. Robert W. Baird’s price objective points to a potential upside of 52.23% from the company’s current price.
A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Forescout Technologies to $46.00 and gave the company an “overweight” rating in a report on Friday, August 10th. Citigroup raised their price target on shares of Forescout Technologies from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, July 24th. Zacks Investment Research upgraded shares of Forescout Technologies from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Tuesday, October 9th. ValuEngine upgraded shares of Forescout Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Needham & Company LLC began coverage on Forescout Technologies in a research note on Friday, September 21st. They issued a “buy” rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $38.91.
NASDAQ FSCT traded down $0.52 during trading hours on Wednesday, reaching $27.59. The company’s stock had a trading volume of 1,196,331 shares, compared to its average volume of 410,102. The firm has a market cap of $1.17 billion and a PE ratio of -3.48. Forescout Technologies has a 52 week low of $21.56 and a 52 week high of $40.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.17 and a quick ratio of 2.16.
In related news, SVP Darren J. Milliken sold 3,870 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $28.60, for a total transaction of $110,682.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique T. Salem sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $27.29, for a total value of $40,935.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,194,854 shares of company stock valued at $44,015,921. 36.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board bought a new position in Forescout Technologies in the third quarter worth $4,792,000. BlackRock Inc. grew its stake in shares of Forescout Technologies by 2.2% in the third quarter. BlackRock Inc. now owns 2,143,076 shares of the company’s stock worth $80,923,000 after acquiring an additional 45,170 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Forescout Technologies by 17.4% in the third quarter. Bank of New York Mellon Corp now owns 136,295 shares of the company’s stock worth $5,146,000 after acquiring an additional 20,191 shares during the last quarter. Swiss National Bank grew its stake in shares of Forescout Technologies by 86.9% in the third quarter. Swiss National Bank now owns 38,500 shares of the company’s stock worth $1,454,000 after acquiring an additional 17,900 shares during the last quarter. Finally, Tygh Capital Management Inc. grew its stake in shares of Forescout Technologies by 12.1% in the third quarter. Tygh Capital Management Inc. now owns 156,821 shares of the company’s stock worth $5,922,000 after acquiring an additional 16,931 shares during the last quarter. Institutional investors and hedge funds own 55.56% of the company’s stock.
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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