Forescout Technologies (FSCT) Issues Q2 Earnings Guidance

Forescout Technologies (NASDAQ:FSCT) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of ($0.48)-(0.46) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.26). The company issued revenue guidance of $78.3-78.3 million, compared to the consensus revenue estimate of $82.75 million.Forescout Technologies also updated its FY 2019 guidance to $-0.41-0.34 EPS.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Forescout Technologies from a buy rating to a hold rating in a research note on Tuesday. Needham & Company LLC restated a buy rating and issued a $50.00 price target (up from $47.00) on shares of Forescout Technologies in a research note on Monday, March 11th. Robert W. Baird restated a buy rating and issued a $44.00 price target on shares of Forescout Technologies in a research note on Wednesday, March 6th. Morgan Stanley set a $46.00 price target on Forescout Technologies and gave the stock a buy rating in a research note on Tuesday, March 5th. Finally, UBS Group raised their price target on Forescout Technologies from $43.00 to $52.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $45.78.

Shares of FSCT stock traded down $7.02 on Friday, reaching $36.28. The stock had a trading volume of 2,906,775 shares, compared to its average volume of 609,085. The company has a market cap of $1.95 billion, a P/E ratio of -20.97 and a beta of 1.32. Forescout Technologies has a 1 year low of $22.01 and a 1 year high of $46.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.30.

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, topping the Zacks’ consensus estimate of ($0.44) by $0.03. The firm had revenue of $78.60 million for the quarter, compared to the consensus estimate of $73.71 million. Forescout Technologies had a negative return on equity of 62.73% and a negative net margin of 25.80%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period last year, the business posted ($0.38) EPS. As a group, analysts expect that Forescout Technologies will post -1.86 earnings per share for the current year.

In related news, insider Pedro Abreu sold 11,015 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $45.45, for a total value of $500,631.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman David G. Dewalt sold 50,374 shares of the firm’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $36.62, for a total value of $1,844,695.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 668,036 shares of company stock worth $26,281,345. 13.80% of the stock is owned by insiders.

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Forescout Technologies Company Profile

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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