FSCT - ForeScout: Relative Valuation Suggests Large Upside
Cybersecurity and the Internet of Things (IoT) are two trends that companies are spending heavily on to compete and stay connected in the future. IoT promises efficiency, and cybersecurity promises protection from hacks and regulations. ForeScout (FSCT) specializes in providing a security platform for an IoT ecosystem. With a stock that is competing in trendy sectors and posting >30% revenue growth, it is surprising that they are trading at a lower valuation (6.2 P/S) compared to their peers.
Below, I will provide an outline of their business model and perform a relative valuation