About Fortinet (NASDAQ:FTNT)
Fortinet, Inc. provides broad, automated, and integrated cybersecurity solutions worldwide. 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 WAN acceleration; and FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of products, which offers a cloud-ready security information and event management solution for enterprises and service providers. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers end devices, such as computers and laptops, as well as an expanding field of Internet of Things devices; and Fortinet Management and Analysis products consisting of FortiManager and FortiAnalyzer hardware and software products. In addition, it provides security subscription, technical support, professional, and training services. The company sells its security solutions to channel partners; and directly to end-customers, including small and medium-sized businesses, large enterprises, and government organizations in a range of industries consisting of telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare. Fortinet, Inc. was founded in 2000 and is headquartered in Sunnyvale, California.
Industry, Sector and Symbol
Industry Computer peripheral equipment, not elsewhere classified
Sub-IndustrySystems Software
SectorComputer and Technology
SymbolNASDAQ:FTNT
CUSIP34959E10
Phone408-235-7700
Debt
Debt-to-Equity RatioN/A
Current Ratio1.69
Quick Ratio1.61
Price-To-Earnings
Trailing P/E Ratio125.54
Forward P/E Ratio74.18
P/E Growth4.45
Sales & Book Value
Annual Sales$1.49 billion
Price / Sales7.34
Cash Flow$0.8592 per share
Price / Cash75.98
Book Value$3.39 per share
Price / Book19.26
Profitability
EPS (Most Recent Fiscal Year)$0.52
Net Income$31.39 million
Net Margins4.01%
Return on Equity14.64%
Return on Assets4.83%
Miscellaneous
Employees5,066
Outstanding Shares168,100,000
Fortinet (NASDAQ:FTNT) Frequently Asked Questions
What is Fortinet's stock symbol?
Fortinet trades on the NASDAQ under the ticker symbol "FTNT."
How will Fortinet's stock buyback program work?
Fortinet announced that its Board of Directors has initiated a share buyback plan on Friday, October 27th 2017, which permits the company to repurchase $400,000,000.00 in shares, according to EventVestor. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.
How were Fortinet's earnings last quarter?
Fortinet Inc (NASDAQ:FTNT) posted its quarterly earnings data on Thursday, May, 3rd. The software maker reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.09. The software maker earned $399 million during the quarter, compared to the consensus estimate of $390.60 million. Fortinet had a net margin of 4.01% and a return on equity of 14.64%. The business's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. View Fortinet's Earnings History.
When is Fortinet's next earnings date?
What guidance has Fortinet issued on next quarter's earnings?
Fortinet updated its FY18 earnings guidance on Thursday, May, 3rd. The company provided EPS guidance of $1.51-$1.55 for the period, compared to the Thomson Reuters consensus estimate of $1.44. The company issued revenue guidance of $1.715-$1.735, compared to the consensus revenue estimate of $1.71 billion.Fortinet also updated its Q2 guidance to $0.34-$0.36 EPS.
What price target have analysts set for FTNT?
23 Wall Street analysts have issued 12-month price objectives for Fortinet's stock. Their predictions range from $43.00 to $70.00. On average, they expect Fortinet's stock price to reach $55.2381 in the next year. View Analyst Ratings for Fortinet.
What are Wall Street analysts saying about Fortinet stock?
Here are some recent quotes from research analysts about Fortinet stock:
- 1. According to Zacks Investment Research, "Estimates for Fortinet have remained stable of late. Notably, the company has outperformed the industry in the last one year. Going ahead, we believe that the company’s strategy of focusing on selling subscription-based services will enable it to generate more stable revenues and help in expanding margins. Furthermore, acquisitions are a major positive for Fortinet as these help it to strengthen its product portfolio and capabilities, thereby boosting its top-line performance. Nonetheless, we are slightly concerned over the company’s declining revenue growth rate. Notably, over the last six quarters, the company’s revenue growth rates have been around 20%, which are significantly lower than its previous rates of over 30%. Also, a tepid first quarter revenue outlook makes us slightly cautious about its near-term performance." (5/2/2018)
- 2. Credit Suisse Group AG analysts commented, "We perceive a change in tone from management towards the investor community, featuring an increased commitment to transparency. Management exhibited confidence in its cloud security portfolio and Fabric product strategy, revealed new metrics around non-FortiGate product, reiterated FY18 guidance and unveiled a new long-term financial model. Focus on Cloud Security: Arguing that a shift to cloud drives a greater need for consistent security across the architecture, Fortinet characterized its cloud security portfolio across five areas (1) Cloud product portfolio (FortiGate VM suite), (2) Connectors, (3) FortiCASB, (4) FortiManager, (5) Automation – API. While management is optimistic the shift to cloud drives greater throughput needs, we continue to question how FTNT’s historical competitive advantage bestowed by superior silicon will sustain in the cloud." (2/28/2018)
- 3. Robert W. Baird analysts commented, "We continue to see the company as a market share taker with attractive valuation. We are adding FTNT to Baird’s Fresh Pick list with this note. Network Processor [NP] Catalyst. Fortinet refreshes each of its three ASICs every three to four years. A new high-end NP typically offers 2-3x performance over the previous generation, and has historically driven a refresh within the customer base. The current NP6 was released in late C13 and management is currently targeting the next release for C18." (1/11/2018)
Who are some of Fortinet's key competitors?
Some companies that are related to Fortinet include Palo Alto Networks (PANW), Logitech International (LOGI), Xerox (XRX), SEIKO EPSON Cor/GDR (SEKEY), FireEye (FEYE), HTC (HTCXF), Forescout Technologies (FSCT), Stratasys (SSYS), Digital China (DCHIF), Immersion (IMMR), Mitek Systems (MITK), RADCOM (RDCM), AstroNova (ALOT), Key Tronic (KTCC) and TransAct Technologies (TACT).
Who are Fortinet's key executives?
Fortinet's management team includes the folowing people:
- Mr. Ken Xie, Founder, Chairman & CEO (Age 55)
- Mr. Michael Xie, Founder, Pres, CTO & Director (Age 49)
- Mr. John Whittle, VP of Corp. Devel. & Strategic Alliances, Gen. Counsel and Corp. Sec. (Age 49)
- Mr. Keith F. Jensen, CFO & Chief Accounting Officer (Age 59)
- Mr. Peter M. Salkowski, VP of Investor Relations
Has Fortinet been receiving favorable news coverage?
News headlines about FTNT stock have trended positive recently, Accern Sentiment Analysis reports. Accern identifies negative and positive press coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Fortinet earned a news impact score of 0.45 on Accern's scale. They also gave media headlines about the software maker an impact score of 43.64 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock's share price in the near future.
Who are Fortinet's major shareholders?
Fortinet's stock is owned by many different of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (8.24%), Blue Harbour Group L.P. (1.63%), Wasatch Advisors Inc. (1.18%), Prudential Financial Inc. (0.88%), Westfield Capital Management Co. LP (0.79%) and Northern Trust Corp (0.75%). Company insiders that own Fortinet stock include Christopher B Paisley, John Whittle, Judith Sim, Keith Jensen, Ken Xie, Matto Andrew H Del, Michael Xie and Ming Hsieh. View Institutional Ownership Trends for Fortinet.
Which major investors are selling Fortinet stock?
FTNT stock was sold by a variety of institutional investors in the last quarter, including Global Thematic Partners LLC, Highland Capital Management LP, JPMorgan Chase & Co., Millennium Management LLC, Frontier Capital Management Co. LLC, ETF Managers Group LLC, Russell Investments Group Ltd. and Thrivent Financial for Lutherans. Company insiders that have sold Fortinet company stock in the last year include Christopher B Paisley, John Whittle, Judith Sim, Keith Jensen, Ken Xie, Michael Xie and Ming Hsieh. View Insider Buying and Selling for Fortinet.
Which major investors are buying Fortinet stock?
FTNT stock was purchased by a variety of institutional investors in the last quarter, including Blue Harbour Group L.P., Contour Asset Management LLC, Park West Asset Management LLC, Legal & General Group Plc, Mackay Shields LLC, Sensato Investors LLC, AO Asset Management LP and Wells Fargo & Company MN. View Insider Buying and Selling for Fortinet.
How do I buy shares of Fortinet?
Shares of FTNT can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Fortinet's stock price today?
One share of FTNT stock can currently be purchased for approximately $65.28.
How big of a company is Fortinet?
Fortinet has a market capitalization of $10.97 billion and generates $1.49 billion in revenue each year. The software maker earns $31.39 million in net income (profit) each year or $0.52 on an earnings per share basis. Fortinet employs 5,066 workers across the globe.
How can I contact Fortinet?
Fortinet's mailing address is 899 KIFER ROAD, SUNNYVALE CA, 94086. The software maker can be reached via phone at 408-235-7700 or via email at [email protected]
MarketBeat Community Rating for Fortinet (FTNT)
MarketBeat's community ratings are surveys of what our community members think about Fortinet and other stocks. Vote "Outperform" if you believe FTNT will outperform the S&P 500 over the long term. Vote "Underperform" if you believe FTNT will underperform the S&P 500 over the long term. You may vote once every thirty days.
