Fortinet Company Profile (NASDAQ:FTNT)

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

Fortinet Inc (NASDAQ:FTNT) announced its quarterly earnings data on Thursday, April, 27th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.05. The company earned $340.60 million during the quarter, compared to the consensus estimate of $334.44 million. Fortinet had a return on equity of 4.74% and a net margin of 2.09%. The company's quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. View Fortinet's Earnings History.

Fortinet updated its FY17 earnings guidance on Thursday, April, 27th. The company provided earnings per share guidance of $0.89-0.91 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.89. The company issued revenue guidance of $1.485-1.495 billion, compared to the consensus revenue estimate of $1.48 billion.Fortinet also updated its Q2 guidance to $0.19-0.20 EPS.

24 brokerages have issued twelve-month target prices for Fortinet's stock. Their forecasts range from $31.00 to $50.00. On average, they anticipate Fortinet's stock price to reach $40.35 in the next twelve months. View Analyst Ratings for Fortinet.

Here are some recent quotes from research analysts about Fortinet stock:

• 1. According to Zacks Investment Research, "Fortinet reported better-than-expected first-quarter 2017 results, wherein both the top and the bottom line outpaced the respective Zacks Consensus Estimate. The year over year comparisons were also favorable on both the counts. Furthermore, the company provided an encouraging outlook for the second quarter and raised revenue guidance range for the full year. Despite persistent macro uncertainties, management seems to be positive on the back of a healthy network security market, solid product line-up and investment plans. 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. Notably, Fortinet has outperformed the broader market on YTD basis." (5/3/2017)
• 2. Robert W. Baird analysts commented, "We are getting closer to a high-end ASIC product cycle. We view competitive positioning and valuation as attractive at current levels. Firewall market is consolidating. There are more IT security vendors than ever, but the Firewall market has been consolidating around four players including Fortinet (charts page 2). We expect this trend to continue and we expect Fortinet to remain a market share taker for years to come. Price/performance increasingly important. Per checks, some buyers (not all) see the Firewall as more of a commodity product than in the past. This dynamic tends to favor the price/performance advantage of Fortinet. Sales re-org mostly behind it." (3/29/2017)
• 3. Pacific Crest analysts commented, "A shift in focus to increasing profitability, a unified platform solution coming of age at the right time, and a go-to-market strategy that accentuates the company's comparative advantage leave us increasingly confident on Fortinet's ability to benefit from market dynamics," analyst Rob Owens wrote in a note.Further, Fortinet is improving its profitability profile with meaningful expense rationalization on product investments and sales force. Owens sees potential for further margin expansion due to this increased focus on operating efficiency.The brokerage highlighted Fortinet's strategy of sticking to its mid-market approach and believes "the company's breadth of platform continues to resonate well with customers."Related Link: Raytheon's Focus On International Cybersecurity Could Generate Strong Growth"Given the highly competitive nature of the large enterprise market, we see a reduced focus on the enterprise as well-aligned with the economics of the model," (8/30/2016)

Fortinet saw a decrease in short interest in April. As of April 28th, there was short interest totalling 5,644,626 shares, a decrease of 8.2% from the April 13th total of 6,148,245 shares. Based on an average daily trading volume, of 2,209,207 shares, the days-to-cover ratio is presently 2.6 days.

Some companies that are related to Fortinet include Mobileye NV (MBLY), ANSYS (ANSS), Cadence Design Systems (CDNS), CDK Global (CDK), Splunk (SPLK), Open Text Corp (OTEX), Shopify Inc (US) (SHOP), LogMeIn (LOGM), Nuance Communications (NUAN), Tableau Software (DATA), SolarWinds (SWI), Proofpoint (PFPT), Paycom Software (PAYC), Solera Holdings (SLH), Ellie Mae (ELLI), Manhattan Associates (MANH), RealPage (RP) and FireEye (FEYE).

Fortinet's management team includes the folowing people:

• Ken Xie, Chairman of the Board, Chief Executive Officer, Founder
• Michael Xie, President, Founder, Chief Technology Officer, Director
• Andrew H. Del Matto, Chief Financial Officer
• Patrice Perche, Senior Executive Vice President, Worldwide Sales and Support
• John Maddison, Senior Vice President of Products and Solutions
• Lisa McGill, Senior Vice President of People
• Keith F. Jensen, Chief Accounting Officer
• John Lunsford Whittle J.D., Vice President - Corporate Development, General Counsel, Corporate Secretary
• Christopher B. Paisley, Lead Independent Director
• Ming Hsieh, Independent Director

Fortinet's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (7.50%), Vanguard Group Inc. (6.76%), Bank of America Corp DE (2.71%), State Street Corp (2.53%), Ameriprise Financial Inc. (2.47%) and Renaissance Technologies LLC (2.16%). Company insiders that own Fortinet stock include Christopher B Paisley, Hong Liang Lu, John Whittle, Keith Jensen, Ken Xie, Matto Andrew H Del, Michael Xie and Ming Hsieh. View Institutional Ownership Trends for Fortinet.

Fortinet's stock was sold by a variety of institutional investors in the last quarter, including Bank of America Corp DE, Marshall Wace LLP, JPMorgan Chase & Co., Teachers Advisors LLC, TIAA CREF Investment Management LLC, Westfield Capital Management Co. LP, Capital Fund Management S.A. and Penserra Capital Management LLC. Company insiders that have sold Fortinet stock in the last year include Christopher B Paisley, John Whittle, Keith Jensen, Ken Xie, Matto Andrew H Del, Michael Xie and Ming Hsieh. View Insider Buying and Selling for Fortinet.

Fortinet's stock was bought by a variety of institutional investors in the last quarter, including BlackRock Inc., MARSHALL WACE ASIA Ltd, Marshall Wace North America L.P., Renaissance Technologies LLC, Smith Asset Management Group LP, Vanguard Group Inc., Quantitative Investment Management LLC and Wells Fargo & Company MN. View Insider Buying and Selling for Fortinet.

Shares of Fortinet can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Fortinet stock can currently be purchased for approximately $39.49.