Forescout Technologies Inc (NASDAQ:FSCT) Short Interest Update
Forescout Technologies Inc (NASDAQ:FSCT) saw a large decline in short interest during the month of November. As of November 29th, there was short interest totalling 2,360,000 shares, a decline of 9.2% from the November 14th total of 2,600,000 shares. Based on an average daily volume of 717,300 shares, the short-interest ratio is currently 3.3 days. Approximately 6.5% of the company’s stock are short sold.
Shares of NASDAQ FSCT traded up $0.36 during mid-day trading on Friday, hitting $34.55. The company had a trading volume of 413,503 shares, compared to its average volume of 474,824. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -19.97 and a beta of 1.57. Forescout Technologies has a 12 month low of $22.01 and a 12 month high of $46.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.18 and a quick ratio of 1.18. The firm’s 50 day simple moving average is $33.10 and its two-hundred day simple moving average is $34.37.
Forescout Technologies (NASDAQ:FSCT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). Forescout Technologies had a negative return on equity of 101.79% and a negative net margin of 35.27%. The company had revenue of $91.62 million for the quarter, compared to the consensus estimate of $90.99 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. Forescout Technologies’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts forecast that Forescout Technologies will post -2.57 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new position in shares of Forescout Technologies during the third quarter valued at $25,000. Russell Investments Group Ltd. acquired a new stake in shares of Forescout Technologies in the 3rd quarter worth about $77,000. NumerixS Investment Technologies Inc bought a new stake in Forescout Technologies in the 2nd quarter valued at about $78,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Forescout Technologies by 202.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,082 shares of the company’s stock valued at $104,000 after purchasing an additional 2,064 shares during the last quarter. Finally, Aperio Group LLC bought a new stake in Forescout Technologies in the 2nd quarter valued at about $118,000. Institutional investors own 72.55% of the company’s stock.
FSCT has been the topic of several research analyst reports. UBS Group reduced their price objective on Forescout Technologies from $50.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Needham & Company LLC reiterated a “hold” rating on shares of Forescout Technologies in a research note on Thursday, November 7th. Zacks Investment Research cut shares of Forescout Technologies from a “hold” rating to a “sell” rating in a report on Monday, November 11th. ValuEngine cut shares of Forescout Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Piper Jaffray Companies began coverage on shares of Forescout Technologies in a research report on Monday, December 9th. They issued an “overweight” rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $38.00.
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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