Forescout Technologies (NASDAQ:FSCT) Updates Q3 2019 Earnings Guidance

Forescout Technologies (NASDAQ:FSCT) updated its third quarter 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.04-0.06 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.11. The company issued revenue guidance of $98.8-101.8 million, compared to the consensus revenue estimate of $100.69 million.Forescout Technologies also updated its FY 2019 guidance to $-0.41–0.33 EPS.

A number of research firms have weighed in on FSCT. Robert W. Baird reiterated a buy rating and set a $44.00 price objective on shares of Forescout Technologies in a research note on Thursday. Zacks Investment Research lowered Forescout Technologies from a buy rating to a hold rating in a research note on Monday, July 15th. Finally, Macquarie began coverage on Forescout Technologies in a research note on Tuesday, July 16th. They set a neutral rating and a $41.00 price objective for the company. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Forescout Technologies presently has a consensus rating of Buy and a consensus price target of $45.56.

Shares of Forescout Technologies stock traded up $0.02 on Friday, hitting $36.55. The company’s stock had a trading volume of 1,163,422 shares, compared to its average volume of 457,526. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 0.26. Forescout Technologies has a 1 year low of $22.01 and a 1 year high of $46.43. The firm’s fifty day moving average is $36.35. The firm has a market cap of $1.65 billion, a P/E ratio of -21.13 and a beta of 1.55.

Forescout Technologies (NASDAQ:FSCT) last announced its quarterly earnings results 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. Forescout Technologies had a negative return on equity of 71.10% and a negative net margin of 28.14%. The firm had revenue of $78.28 million during the quarter, compared to analyst estimates of $77.22 million. During the same quarter in the previous year, the business earned ($0.18) EPS. Forescout Technologies’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities analysts forecast that Forescout Technologies will post -1.85 earnings per share for the current fiscal year.

In related news, CFO Christopher Harms sold 4,898 shares of Forescout Technologies stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $35.48, for a total value of $173,781.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pedro Abreu sold 3,537 shares of Forescout Technologies stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $32.56, for a total value of $115,164.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,505 shares of company stock valued at $5,436,928. 13.80% of the stock is owned by company 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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