(NEW YORK)–ForeScout Technologies (NASDAQ: FSCT) looks to hold above their initial listing price after marking a successful debut in one of the rare cybersecurity IPOs this year.
FSCT stock rose to a high $27, or 22.7%, on its first day of trading, which was well above their IPO price of $22 per share. The company came in for a $806 million valuation, just short of a unicorn-sized private valuation it achieved in 2016.
ForeScout posted $91M in revenue in the first half of 2017, with a net loss of $47M. FSCT looks to find footing above its initial price just around the $24.50 range, as it makes its debut in a health market for initial public offerings.
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About ForeScout Technologies Inc.
ForeScout Technologies, Inc. helps make the invisible visible. Our company provides Global 2000 enterprises and government agencies with agentless visibility and control of traditional and IoT devices the instant they connect to the network. Our technology integrates with disparate security tools to help organizations accelerate incident response, break down silos, automate workflows and optimize existing investments. Learn more at www.forescout.com
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