Forescout Technologies (NASDAQ:FSCT) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Forescout Technologies (NASDAQ:FSCT) from a buy rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

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. “

Shares of FSCT opened at $38.07 on Monday. The company’s 50-day moving average is $34.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.23 and a current ratio of 1.24. Forescout Technologies has a 1-year low of $22.01 and a 1-year high of $46.43.

Forescout Technologies (NASDAQ:FSCT) last announced its earnings results on Thursday, May 9th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. The firm had revenue of $78.60 million for the quarter, compared to analyst estimates of $73.71 million. Forescout Technologies had a negative net margin of 25.80% and a negative return on equity of 63.71%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.38) EPS. Research analysts expect that Forescout Technologies will post -1.85 EPS for the current year.

In other news, CEO Michael Decesare sold 30,000 shares of Forescout Technologies stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $37.90, for a total transaction of $1,137,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James A. Beer sold 4,800 shares of Forescout Technologies stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $41.82, for a total transaction of $200,736.00. The disclosure for this sale can be found here. Insiders have sold a total of 145,178 shares of company stock worth $5,228,138 in the last ninety days. Insiders own 13.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Clearbridge Investments LLC boosted its stake in shares of Forescout Technologies by 3.7% during the 1st quarter. Clearbridge Investments LLC now owns 883,936 shares of the company’s stock valued at $37,046,000 after purchasing an additional 31,325 shares in the last quarter. Deutsche Bank AG boosted its stake in Forescout Technologies by 41.9% during the fourth quarter. Deutsche Bank AG now owns 401,619 shares of the company’s stock worth $10,437,000 after acquiring an additional 118,600 shares in the last quarter. Weiss Multi Strategy Advisers LLC boosted its stake in Forescout Technologies by 165.3% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 344,871 shares of the company’s stock worth $8,963,000 after acquiring an additional 214,871 shares in the last quarter. Geode Capital Management LLC boosted its stake in Forescout Technologies by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 284,358 shares of the company’s stock worth $7,390,000 after acquiring an additional 24,067 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Forescout Technologies by 92.6% during the fourth quarter. Millennium Management LLC now owns 214,634 shares of the company’s stock worth $5,578,000 after acquiring an additional 103,189 shares in the last quarter. 61.03% of the stock is currently owned by hedge funds and other institutional investors.

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 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.

See Also: Strike Price

Get a free copy of the Zacks research report on Forescout Technologies (FSCT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

Receive News & Ratings for Forescout Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forescout Technologies and related companies with MarketBeat.com's FREE daily email newsletter.