Needham Downgrades Forescout Technologies Inc (FSCT) to Hold

By Ryan Adsit

Needham analyst Alex Henderson downgraded Forescout Technologies Inc (FSCTResearch Report) to Hold today. The company’s shares closed last Monday at $25.51, close to its 52-week low of $22.01.

According to, Henderson is a 5-star analyst with an average return of 14.3% and a 51.4% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Cisco Systems Inc, Lumentum Holdings, and Juniper Networks.

Forescout Technologies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $42.50, implying a 64.8% upside from current levels. In a report released today, J.P. Morgan also downgraded the stock to Hold with a $35.00 price target.

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Based on Forescout Technologies Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $30.76 million. In comparison, last year the company had a GAAP net loss of $8.29 million.

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ForeScout Technologies, Inc. engages in the provision of network access control and policy compliance solutions. Its products include CounterACT, ForeScout Extended Modules and CounterACT Enterprise Manager. The firm provides its services to the federal, defense, financial, healthcare and education industries.