Forescout Technologies (NASDAQ:FSCT) Updates FY 2019 Earnings Guidance

Forescout Technologies (NASDAQ:FSCT) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $-0.41–0.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.42. The company issued revenue guidance of $365.3-375.3 million, compared to the consensus revenue estimate of $371.09 million.Forescout Technologies also updated its Q3 2019 guidance to $0.04-0.06 EPS.

A number of analysts recently commented on the company. Zacks Investment Research cut Forescout Technologies from a buy rating to a hold rating in a research report on Monday, July 15th. Macquarie assumed coverage on Forescout Technologies in a research report on Tuesday, July 16th. They set a neutral rating and a $41.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $45.56.

Forescout Technologies stock traded up $0.48 during mid-day trading on Wednesday, reaching $34.03. 518,832 shares of the stock traded hands, compared to its average volume of 568,569. The firm’s 50-day simple moving average is $36.23. Forescout Technologies has a 12-month low of $22.01 and a 12-month high of $46.43. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.62 billion, a PE ratio of -19.67 and a beta of 1.55.

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

In other Forescout Technologies news, insider Pedro Abreu sold 3,537 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $32.56, for a total transaction of $115,164.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher Harms sold 4,898 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $35.48, for a total value of $173,781.04. The disclosure for this sale can be found here. Insiders have sold 141,005 shares of company stock valued at $5,038,788 in the last three months. 13.80% of the stock is currently owned by corporate insiders.

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.

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