Fortinet (NASDAQ:FTNT) is scheduled to post its quarterly earnings results after the market closes on Thursday, July 29th. Analysts expect Fortinet to post earnings of $0.61 per share for the quarter. Individual interested in registering for the company's earnings conference call can do so using this link.
Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, April 29th. The software maker reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.33. The business had revenue of $710.30 million for the quarter, compared to analyst estimates of $678.91 million. Fortinet had a net margin of 17.96% and a return on equity of 54.85%. On average, analysts expect Fortinet to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Fortinet stock opened at $264.65 on Thursday. The firm has a market cap of $43.22 billion, a price-to-earnings ratio of 89.41, a PEG ratio of 6.57 and a beta of 1.10. The business's 50-day moving average price is $233.21. Fortinet has a fifty-two week low of $106.75 and a fifty-two week high of $266.02. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 1.01.
In other news, VP Michael Xie sold 40,000 shares of the company's stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $213.71, for a total transaction of $8,548,400.00. Following the completion of the transaction, the vice president now directly owns 6,027,437 shares of the company's stock, valued at $1,288,123,561.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith Jensen sold 1,550 shares of the company's stock in a transaction that occurred on Tuesday, May 18th. The shares were sold at an average price of $206.02, for a total value of $319,331.00. Following the transaction, the chief financial officer now directly owns 2,042 shares of the company's stock, valued at $420,692.84. The disclosure for this sale can be found here. Insiders sold 50,409 shares of company stock worth $10,774,244 in the last quarter. 18.20% of the stock is owned by insiders.
FTNT has been the subject of a number of research analyst reports. Monness Crespi & Hardt cut shares of Fortinet from a "buy" rating to a "neutral" rating in a research report on Tuesday, June 29th. They noted that the move was a valuation call. Raymond James lifted their target price on shares of Fortinet from $225.00 to $280.00 and gave the stock an "outperform" rating in a research note on Monday. BTIG Research raised their price objective on shares of Fortinet from $240.00 to $291.00 and gave the company a "buy" rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on shares of Fortinet from $175.00 to $208.00 and gave the company a "sector perform" rating in a research report on Friday, April 30th. Finally, Morgan Stanley lifted their price target on shares of Fortinet from $170.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Friday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of "Hold" and an average target price of $204.43.
Fortinet, Inc provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration.
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