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(Bloomberg) -- Cybersecurity company ForeScout Technologies Inc. is exploring strategic options, including a possible sale, after activist investors built a stake, according to people familiar with the matter.The San Jose, California-based company is working with a financial adviser, said the people, who asked to not be identified because the matter isn’t public. A final decision on pursuing a sale hasn’t been made and the company could decide to remain independent, the people said.ForeScout rose 6.8% to $33.06 at 12:01 a.m. in New York trading Monday, giving the company a market value of about $1.56 billion. Its shares are up about 22% in the past year.A representative for ForeScout declined to comment.The company’s effort comes amid a wave of industry consolidation. Private equity firm Thoma Bravo agreed last month to buy British cybersecurity firm Sophos Group Plc for $3.8 billion.Activist investor Corvex Management and its partner, Jericho Capital Asset Management, disclosed a combined 14.5% in ForeScout last month and said they planned to push for changes at the company.The cybersecurity firm has the potential to double sales over the next five years as it shifts to a subscription-based model, Corvex Managing Partner Keith Meister said at an investor conference in October.ForeScout’s software allows customers to see what devices are connected to a network, according to its website.ForeScout cut its revenue forecast for 2019 last week, as sales fell below expectations in areas including Europe, the Middle East and Africa.(Updates share price in third paragraph.)\--With assistance from Crystal Tse.To contact the reporters on this story: Scott Deveau in New York at email@example.com;Liana Baker in New York at firstname.lastname@example.org;Kiel Porter in Chicago at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, Matthew Monks, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
ForeScout (FSCT) delivered earnings and revenue surprises of -300.00% and -4.06%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Forescout Technologies Inc. shares fell in the extended session Wednesday after the cybersecurity company's outlook and results missed Wall Street estimates. Forescout shares fell 4% after hours, following a 1.6% drop in the regular session to close at $29.44. Forescout expects an adjusted fourth-quarter loss of 8 cents to 6 cents a share on revenue of $93.5 million to $96.5 million, while analysts surveyed by FactSet forecast earnings of 24 cents a share on revenue of $109.5 million. The company reported a third-quarter loss of $33.5 million, or 72 cents a share, compared with a loss of $8.3 million, or 20 cents a share, in the year-ago period. The adjusted loss was 2 cents a share. Revenue rose to $91.6 million from $85.6 million in the year-ago quarter. Analysts had forecast a loss of a penny on revenue of $94.3 million. "Our third quarter 2019 results were impacted by extended sales cycles, with the resulting revenue shortfall most pronounced in EMEA," said Michael DeCesare, Forescout chief executive and president, in a statement. "These results are disappointing to us and we are taking a number of steps to improve things we can control, including sales execution and shaping our revenue model for better predictability."
Total Revenue of $91.6 million, compared to $85.6 million in the third quarter of 2018Transforms Network Segmentation with the release of Forescout eyeSegment SAN JOSE, Calif.,.
Forescout eyeSegment ties together fragmented segmentation point solutions in a scalable approach across campus, data center, cloud and OT Enables a Zero Trust approach to.
Forescout Technologies, Inc. (NASDAQ:FSCT), which is in the software business, and is based in United States, led the...
ForeScout (FSCT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Is ForeScout Technologies, Inc. (NASDAQ:FSCT) a good stock to buy right now? We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and 20 payment structure, hedge funds have more incentives and resources than the average investor. The funds […]
Forescout Technologies, Inc. (FSCT), the leader in device visibility and control, today announced that it has joined a new alliance to provide a technical and organizational framework for safe and secure operational technology (OT). The Operational Technology Cyber Security Alliance (OTCSA) aims to bridge dangerous gaps in security for OT and critical infrastructures and industrial control systems (ICS) to support and improve the daily lives of citizens and workers in an evolving world. Industry leaders ABB, Check Point Software, Cylance, Fortinet, Microsoft, Mocana, NCC Group, Qualys, SCADAFence, Splunk and Wärtsilä have partnered with Forescout to establish the OTCSA.
Class-action law firm urges FSCT investors who have suffered losses to submit your loss now to learn if they qualify to recover their investment losses. The investigation centers on whether Forescout misled investors about its sales pipeline.
Crowdstrike stock was trading sharply lower after Citi analyst Walter Pritchard started coverage of the security company with a Sell rating. He also named two stocks to buy.
Forescout Technologies, Inc. (FSCT), the leader in device visibility and control, today announced new innovation to its industrial control system security solution SilentDefense that will help organizations aggregate and prioritize risks targeting OT and IoT devices. The new Asset Risk Framework will provide users with intuitive, impact-based scores in a central dashboard so they can determine their current security risk exposure, identify assets that have a high potential of being attacked and enable engineers to take action on the assets that need attention. Network security monitoring tools create large amounts of information which can be very challenging for cybersecurity and operational stakeholders to review.
Bragar Eagel & Squire, P.C. is investigating potential claims against Forescout Technologies, Inc. (FSCT) on behalf of Forescout stockholders. On October 10, 2019, the company announced disappointing Q3 2019 financial results, citing several deals that were allegedly pushed out of the third quarter.
SAN FRANCISCO , Oct. 10, 2019 /PRNewswire/ -- Hagens Berman notifies Forescout Technologies, Inc. (NASDAQ: FSCT) investors of the firm's investigation of possible violations of federal securities laws. ...
NEW YORK , Oct. 10, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP ( www.kaplanfox.com ) has been investigating claims on behalf of investors who purchased shares of Forescout Technologies, Inc. ("Forescout" ...
Holzer & Holzer, LLC is investigating whether certain statements made by Forescout Technologies, Inc. (“Forescout” or the “Company”) (FSCT) complied with federal securities laws. The price of Forescout stock fell following the announcement. If you purchased shares of Forescout and suffered a loss on that investment, you are encouraged to contact Corey D. Holzer, Esq.
Forescout Technologies, Inc. (FSCT), the leader in device visibility and control, today announced preliminary results for its third quarter ended September 30, 2019, based upon preliminary unaudited financial information. GAAP operating loss for the third quarter is expected to be in the range of $18.2 million - $17.8 million. Forescout will provide full financial results including its GAAP and non-GAAP earnings per share and updated guidance during its conference call on November 6, 2019.
We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be...
By John Marchisi The modern special purpose acquisition company, or SPAC, encounters several challenges with regard to risk management and insurance which are uncovered and discussed in this paper. As the structural features and strategies of the vehicle have continued to evolve, so too has the threat landscape which SPAC operators must be prepared […]
SAN JOSE, Calif. , Sept. 30, 2019 /PRNewswire/ -- Forescout Technologies, Inc. (NASDAQ: FSCT), the leader in device visibility and control, today announced the appointment of Wahab Yusoff to Regional ...
Forescout Technologies, Inc. (FSCT), the leader in device visibility and control, today announced that the Forescout device visibility and control platform has been designated as a Cyber Catalyst solution. Cyber Catalyst by MarshSM is a first-of-its-kind evaluation program designed to help organizations make more informed choices about cybersecurity products and services to manage their cyber risk. “We are honored that Forescout’s device visibility and control platform was designated as a Cyber Catalyst by MarshSM based on our technical differentiation and the value we deliver in reducing cyber risk.
From Mimecast Limited to Forescout Technologies, Inc., the selloff in cybersecurity stocks has been brutal in recent weeks. But a key technical indicator suggests the group may have hit a bottom, according to All Start Charts. "Within that same theme we're looking at the Cybersecurity subsector finding support at its all-time low relative to the […]
ForeScout (FSCT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 1 (Strong Buy).