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 FY19 guidance to (0.41-0.33) EPS.

Several brokerages recently commented on FSCT. Robert W. Baird restated a buy rating and issued a $44.00 price target on shares of Forescout Technologies in a research report on Thursday. Macquarie began coverage on shares of Forescout Technologies in a research report on Tuesday, July 16th. They issued a neutral rating and a $41.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Forescout Technologies from a buy rating to a hold rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $45.56.

Forescout Technologies stock traded up $0.02 during trading hours on Friday, hitting $36.55. The company had a trading volume of 1,163,422 shares, compared to its average volume of 457,526. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -21.13 and a beta of 1.55. 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 company’s fifty day moving average is $36.35. Forescout Technologies has a fifty-two week low of $22.01 and a fifty-two week high of $46.43.

Forescout Technologies (NASDAQ:FSCT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.47. The firm had revenue of $78.28 million for the quarter, compared to analyst estimates of $77.22 million. Forescout Technologies had a negative net margin of 28.14% and a negative return on equity of 71.10%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS. As a group, analysts expect that Forescout Technologies will post -1.85 EPS for the current year.

In other news, CEO Michael Decesare sold 15,227 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $35.09, for a total transaction of $534,315.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Darren J. Milliken sold 24,096 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $35.31, for a total transaction of $850,829.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,505 shares of company stock worth $5,436,928. Company insiders own 13.80% of the company’s stock.

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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