JPMorgan Chase & Co. cut shares of Forescout Technologies (NASDAQ:FSCT) from an overweight rating to a neutral rating in a research report report published on Thursday, Briefing.com Automated Import reports. JPMorgan Chase & Co. currently has $35.00 price objective on the stock, down from their prior price objective of $54.00.

FSCT has been the topic of a number of other reports. Robert W. Baird set a $44.00 target price on shares of Forescout Technologies and gave the company a buy rating in a research note on Friday, September 13th. ValuEngine downgraded shares of Forescout Technologies from a buy rating to a hold rating in a research note on Monday, September 30th. Zacks Investment Research raised shares of Forescout Technologies from a hold rating to a buy rating and set a $41.00 price target on the stock in a research note on Monday, August 12th. Finally, Macquarie initiated coverage on shares of Forescout Technologies in a research note on Tuesday, July 16th. They set a neutral rating and a $41.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $41.60.

FSCT traded up $0.13 on Thursday, reaching $25.57. The company had a trading volume of 946,780 shares, compared to its average volume of 583,699. The business has a 50 day simple moving average of $35.56 and a 200 day simple moving average of $36.49. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -14.78 and a beta of 1.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.15 and a current ratio of 1.16. Forescout Technologies has a 52-week low of $22.01 and a 52-week high of $46.43.

Forescout Technologies (NASDAQ:FSCT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.47. The business had revenue of $78.28 million for the quarter, compared to the consensus estimate of $77.22 million. Forescout Technologies had a negative net margin of 28.14% and a negative return on equity of 73.42%. Forescout Technologies’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm posted ($0.18) earnings per share. As a group, equities research analysts predict that Forescout Technologies will post -1.84 EPS for the current fiscal year.

In other news, insider Pedro Abreu sold 3,627 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $37.92, for a total value of $137,535.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Darren J. Milliken sold 3,870 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $25.74, for a total transaction of $99,613.80. Insiders have sold 166,058 shares of company stock worth $5,760,314 over the last three months. Insiders own 13.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Forescout Technologies by 4.0% in the second quarter. JPMorgan Chase & Co. now owns 239,407 shares of the company’s stock worth $7,946,000 after purchasing an additional 9,140 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Forescout Technologies by 30.9% in the second quarter. Wells Fargo & Company MN now owns 169,991 shares of the company’s stock worth $5,756,000 after purchasing an additional 40,146 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Forescout Technologies in the second quarter worth approximately $20,434,000. Northern Trust Corp grew its holdings in shares of Forescout Technologies by 10.8% in the second quarter. Northern Trust Corp now owns 402,596 shares of the company’s stock worth $13,632,000 after purchasing an additional 39,366 shares during the last quarter. Finally, Aperio Group LLC bought a new position in shares of Forescout Technologies in the second quarter worth approximately $118,000. Hedge funds and other institutional investors own 69.51% 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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Analyst Recommendations for Forescout Technologies (NASDAQ:FSCT)

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