Forescout Technologies (FSCT) Updates Q4 2018 Earnings Guidance

Forescout Technologies (NASDAQ:FSCT) issued an update on its fourth quarter 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $-0.26–0.24 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.28. The company issued revenue guidance of $75.8-78.8 million, compared to the consensus revenue estimate of $76.43 million.Forescout Technologies also updated its FY 2018 guidance to $-0.69–0.67 EPS.

Shares of FSCT opened at $27.59 on Friday. Forescout Technologies has a 12-month low of $21.56 and a 12-month high of $40.96. The company has a quick ratio of 2.16, a current ratio of 2.17 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.17 billion and a price-to-earnings ratio of -3.48.

Forescout Technologies (NASDAQ:FSCT) last issued its earnings results on Thursday, November 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). The business had revenue of $85.63 million during the quarter, compared to analyst estimates of $79.08 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. As a group, research analysts forecast that Forescout Technologies will post -0.95 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on FSCT shares. Zacks Investment Research raised Forescout Technologies from a hold rating to a buy rating and set a $42.00 target price for the company in a report on Tuesday, July 24th. Morgan Stanley set a $34.00 target price on Forescout Technologies and gave the stock a hold rating in a report on Friday, October 19th. ValuEngine raised Forescout Technologies from a hold rating to a buy rating in a report on Tuesday, October 9th. Citigroup upped their target price on Forescout Technologies from $33.00 to $38.00 and gave the stock a neutral rating in a report on Tuesday, July 24th. Finally, Robert W. Baird started coverage on Forescout Technologies in a report on Wednesday, October 17th. They issued an outperform rating and a $42.00 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. Forescout Technologies has a consensus rating of Buy and an average target price of $38.91.

In other Forescout Technologies news, Chairman Yehezkel Yeshurun sold 35,000 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $34.79, for a total value of $1,217,650.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Enrique T. Salem sold 1,500 shares of the company’s stock in a transaction dated 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. Insiders sold a total of 1,194,854 shares of company stock worth $44,015,921 in the last quarter. Corporate insiders own 36.20% of the company’s stock.

A hedge fund recently raised its stake in Forescout Technologies stock. Bank of New York Mellon Corp raised its stake in Forescout Technologies Inc (NASDAQ:FSCT) by 244.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 116,104 shares of the company’s stock after buying an additional 82,356 shares during the period. Bank of New York Mellon Corp owned about 0.28% of Forescout Technologies worth $3,977,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 55.56% 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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Earnings History and Estimates for Forescout Technologies (NASDAQ:FSCT)

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