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Fortinet Stock Price, Forecast & Analysis (NASDAQ:FTNT)

$100.12
+0.45 (+0.45 %)
(As of 11/15/2019 08:54 AM ET)
Today's Range
$99.08
Now: $100.12
$100.85
50-Day Range
$75.43
MA: $82.54
$100.47
52-Week Range
$64.41
Now: $100.12
$100.85
Volume1.12 million shs
Average Volume1.65 million shs
Market Capitalization$17.12 billion
P/E Ratio88.60
Dividend YieldN/A
Beta1.08
Fortinet, Inc provides broad, integrated, and automated 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 wide area network acceleration; FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of software solutions, which offers a cloud-ready security information and event management solutions. Read More…

Industry, Sector and Symbol

Industry Computer peripheral equipment, not elsewhere classified
Sub-IndustrySystems Software
SectorComputer and Technology
Current SymbolNASDAQ:FTNT
CUSIP34959E10
Phone408-235-7700

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$1.80 billion
Cash Flow$2.01 per share
Book Value$7.02 per share

Profitability

Net Income$332.20 million

Miscellaneous

Employees5,845
Market Cap$17.12 billion
Next Earnings Date2/5/2020 (Estimated)
OptionableOptionable

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Fortinet (NASDAQ:FTNT) Frequently Asked Questions

What is Fortinet's stock symbol?

Fortinet trades on the NASDAQ under the ticker symbol "FTNT."

How were Fortinet's earnings last quarter?

Fortinet Inc (NASDAQ:FTNT) announced its earnings results on Thursday, October, 31st. The software maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.11. The software maker had revenue of $547.50 million for the quarter, compared to the consensus estimate of $533.55 million. Fortinet had a net margin of 19.23% and a return on equity of 25.46%. The firm's revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. View Fortinet's Earnings History.

When is Fortinet's next earnings date?

Fortinet is scheduled to release their next quarterly earnings announcement on Wednesday, February 5th 2020. View Earnings Estimates for Fortinet.

What guidance has Fortinet issued on next quarter's earnings?

Fortinet issued an update on its fourth quarter earnings guidance on Thursday, October, 31st. The company provided earnings per share guidance of $0.69-0.71 for the period, compared to the Thomson Reuters consensus estimate of $0.65. The company issued revenue guidance of $595-610 million, compared to the consensus revenue estimate of $585.82 million.

What price target have analysts set for FTNT?

24 Wall Street analysts have issued 12-month price objectives for Fortinet's shares. Their forecasts range from $72.00 to $116.00. On average, they anticipate Fortinet's share price to reach $97.65 in the next twelve months. This suggests that the stock has a possible downside of 2.5%. View Analyst Price Targets for Fortinet.

What is the consensus analysts' recommendation for Fortinet?

24 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 1 sell rating, 12 hold ratings and 11 buy ratings for the stock, resulting in a consensus recommendation of "Hold." 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. Robert W. Baird analysts commented, "We maintain our Neutral rating and our price target of $100. Fortinet posted a strong quarter across the board, beating consensus in revenue, billings, and non- GAAP EPS. SD-WAN was highlighted as an area of particularly strong success during 2Q19, with management pointing to both large deals and an increased emphasis on a broader approach to infrastructure security. Overall, management appeared pleased with the continued growth, especially as driven by the company’s non-Fortigate product offerings." (8/2/2019)
  • 2. Evercore ISI analysts commented, "We do not view this as a particularly easy compare vs. the ~13% y/y product revenue growth (ex 606) we saw in 2018, which comped ~5% product growth in 2017. We believe longer- term FTNT’s business should become more ratable which was evident this quarter. With product growth likely slower this year we are looking for a continued ramp in the company’s ratable service revenue to support growth going forward. We continue to view FTNT’s current valuation as rich and likely inflexible in the event of a negative surprise on the fundamentals. Remain In Line rated." (5/7/2019)
  • 3. According to Zacks Investment Research, "Fortinet is benefiting from strength in overall product suite of Security Fabric. The digital transformation and security refresh cycle across most industries are tailwinds. Fortinet is the market leader in Unified Threat Management in terms of revenues, which is believed to be one of the fastest growing segments in Network Security with a projected growth in the range of high-single to low-double digits. Notably, its shares have outperformed the industry in the past year. Estimates have been stable lately ahead of the company’s first-quarter earnings release. It has positive record of earnings surprises in the recent quarters. Nonetheless, competition from numerous big and small players in the security application market poses concern. Near-term prospects for Fortinet are not promising as changing customer spending behavior recently hit several other players in this space. The company also seems to be losing business to its rivals." (4/9/2019)

Has Fortinet been receiving favorable news coverage?

Press coverage about FTNT stock has trended somewhat negative this week, InfoTrie Sentiment Analysis reports. The research firm ranks the sentiment of news coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Fortinet earned a daily sentiment score of -1.4 on InfoTrie's scale. They also assigned headlines about the software maker a news buzz of 0.0 out of 10, indicating that recent news coverage is extremely unlikely to have an impact on the stock's share price in the near future. View News Stories for Fortinet.

Are investors shorting Fortinet?

Fortinet saw a decline in short interest in October. As of October 15th, there was short interest totalling 4,720,000 shares, a decline of 15.7% from the September 15th total of 5,600,000 shares. Based on an average trading volume of 1,360,000 shares, the short-interest ratio is currently 3.5 days. Approximately 3.3% of the shares of the company are short sold. View Fortinet's Current Options Chain.

Who are some of Fortinet's key competitors?

What other stocks do shareholders of Fortinet own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Fortinet investors own include NVIDIA (NVDA), Alibaba Group (BABA), salesforce.com (CRM), Paypal (PYPL), Palo Alto Networks (PANW), Netflix (NFLX), Micron Technology (MU), Visa (V), Cisco Systems (CSCO) and Mastercard (MA).

Who are Fortinet's key executives?

Fortinet's management team includes the folowing people:
  • Mr. Ken Xie, Founder, Chairman & CEO (Age 56)
  • Mr. Michael Xie, Founder, Pres, CTO & Director (Age 50)
  • Mr. John Whittle, VP of Corp. Devel. & Strategic Alliances, Gen. Counsel and Corp. Sec. (Age 50)
  • Mr. Keith F. Jensen, CFO & Chief Accounting Officer (Age 60)
  • Mr. Peter M. Salkowski, VP of Investor Relations

Who are Fortinet's major shareholders?

Fortinet's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include Sumitomo Mitsui Trust Holdings Inc. (0.35%), Robeco Institutional Asset Management B.V. (0.32%), First Trust Advisors LP (0.24%), Teacher Retirement System of Texas (0.20%), Renaissance Group LLC (0.20%) and California Public Employees Retirement System (0.19%). Company insiders that own Fortinet stock include Christopher B Paisley, John Whittle, Judith Sim, Keith Jensen, Ken Xie, Michael Xie, Ming Hsieh and Peter Dale Jr Cohen. 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 First Trust Advisors LP, Great Lakes Advisors LLC, Robeco Institutional Asset Management B.V., Navellier & Associates Inc, Mackay Shields LLC, Teacher Retirement System of Texas, Great West Life Assurance Co. Can and Russell Investments Group Ltd.. Company insiders that have sold Fortinet company stock in the last year include Christopher B Paisley, John Whittle, Keith Jensen, Ken Xie and Michael Xie. View Insider Buying and Selling for Fortinet.

Which major investors are buying Fortinet stock?

FTNT stock was acquired by a variety of institutional investors in the last quarter, including State of New Jersey Common Pension Fund D, Envestnet Asset Management Inc., Sumitomo Mitsui Trust Holdings Inc., State of Alaska Department of Revenue, RPG Investment Advisory LLC, Stephens Investment Management Group LLC, Waratah Capital Advisors Ltd. and Assenagon Asset Management S.A.. 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, Robinhood, Fidelity and Charles Schwab.

What is Fortinet's stock price today?

One share of FTNT stock can currently be purchased for approximately $100.12.

How big of a company is Fortinet?

Fortinet has a market capitalization of $17.12 billion and generates $1.80 billion in revenue each year. The software maker earns $332.20 million in net income (profit) each year or $1.13 on an earnings per share basis. Fortinet employs 5,845 workers across the globe.View Additional Information About Fortinet.

What is Fortinet's official website?

The official website for Fortinet is http://www.fortinet.com/.

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 (NASDAQ FTNT)

Community Ranking:  2.9 out of 5 (star star)
Outperform Votes:  1,050 (Vote Outperform)
Underperform Votes:  750 (Vote Underperform)
Total Votes:  1,800
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.
This page was last updated on 11/15/2019 by MarketBeat.com Staff

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