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NASDAQ:FTNT - Fortinet Stock Price, Forecast & News

$100.95
+3.67 (+3.77 %)
(As of 03/30/2020 04:00 PM ET)
Today's Range
$98.00
Now: $100.95
$101.85
50-Day Range
$75.70
MA: $102.34
$121.33
52-Week Range
$68.87
Now: $100.95
$121.82
Volume2.08 million shs
Average Volume1.97 million shs
Market Capitalization$17.42 billion
P/E Ratio53.70
Dividend YieldN/A
Beta1.17
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. 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; FortiAnalyzer product family, which provides centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products, including software updates, configuration, policy settings, and security updates, as well as FortiAP product family, which provides secure wireless networking solutions. 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. provides its products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company was founded in 2000 and is headquartered in Sunnyvale, California.
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Fortinet logo

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$2.16 billion
Cash Flow$3.02 per share
Book Value$7.73 per share

Profitability

Net Income$326.50 million

Miscellaneous

Employees7,082
Market Cap$17.42 billion
Next Earnings Date5/7/2020 (Estimated)
OptionableOptionable

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Fortinet (NASDAQ:FTNT) Frequently Asked Questions

How has Fortinet's stock been impacted by COVID-19 (Coronavirus)?

Fortinet's stock was trading at $87.95 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization. Since then, FTNT shares have increased by 14.8% and is now trading at $100.95. View which stocks have been mosted impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Fortinet?

27 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 1 sell rating, 14 hold ratings and 12 buy ratings for the stock, resulting in a consensus recommendation of "Hold." View analyst ratings for Fortinet.

When is Fortinet's next earnings date?

Fortinet is scheduled to release its next quarterly earnings announcement on Thursday, May 7th 2020. View our earnings forecast for Fortinet.

How were Fortinet's earnings last quarter?

Fortinet Inc (NASDAQ:FTNT) issued its quarterly earnings results on Thursday, February, 6th. The software maker reported $0.76 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.70 by $0.06. The software maker earned $614.40 million during the quarter, compared to analysts' expectations of $602.89 million. Fortinet had a return on equity of 27.51% and a net margin of 15.14%. The business's revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. View Fortinet's earnings history.

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

Fortinet issued an update on its FY20 earnings guidance on Thursday, February, 6th. The company provided earnings per share guidance of $2.70-2.73 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.72. The company issued revenue guidance of $2.525-2.555 billion, compared to the consensus revenue estimate of $2.47 billion.

What price target have analysts set for FTNT?

27 Wall Street analysts have issued 1 year target prices for Fortinet's shares. Their forecasts range from $80.00 to $150.00. On average, they expect Fortinet's share price to reach $113.00 in the next twelve months. This suggests a possible upside of 11.9% from the stock's current price. View analysts' price targets 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, "Fortinet is benefiting from solid growth in Fortinet Security Fabric, cloud and SD-WAN offerings. Moreover, continued deal wins, especially those of high value, are a key driver. Higher IT spending on cybersecurity is further expected to aid Fortinet to grow faster than the security market. Also, focus on enhancing its UTM portfolio through product development and acquisitions is a tailwind for Fortinet. Bullish guidance for the fourth quarter and the full year are expected to buoy investors’ confidence in the stock. Estimates have been stable lately ahead of Fortinet's Q4 earnings release. Shares have outperformed the industry in the past year. However, competition from numerous big and small players in the security application market poses a concern. Moreover, increasing consolidation in the security industry is intensifying competition." (1/21/2020)
  • 2. 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)
  • 3. 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)

Has Fortinet been receiving favorable news coverage?

Headlines about FTNT stock have trended somewhat negative on Monday, InfoTrie Sentiment Analysis reports. InfoTrie identifies negative and positive press coverage by analyzing more than six thousand blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Fortinet earned a coverage optimism score of -1.6 on InfoTrie's scale. They also assigned media stories about the software maker a news buzz of 4.0 out of 10, meaning that recent press coverage is somewhat unlikely to have an effect on the stock's share price in the immediate future. View the latest news aboutFortinet.

Are investors shorting Fortinet?

Fortinet saw a increase in short interest during the month of March. As of March 13th, there was short interest totaling 4,484,600 shares, an increase of 26.7% from the February 27th total of 3,540,000 shares. Based on an average trading volume of 2,401,700 shares, the days-to-cover ratio is currently 1.9 days. Currently, 3.1% of the company's stock are sold short. 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), Cisco Systems (CSCO), Walt Disney (DIS), Micron Technology (MU), Mastercard (MA), Home Depot (HD) and Netflix (NFLX).

Who are Fortinet's key executives?

Fortinet's management team includes the following 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

What is Fortinet's stock symbol?

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

Who are Fortinet's major shareholders?

Fortinet's stock is owned by a number of retail and institutional investors. Top institutional shareholders include State Street Corp (3.39%), Renaissance Technologies LLC (3.36%), Geode Capital Management LLC (1.53%), Altshuler Shaham Ltd (1.20%), Bank of Montreal Can (1.14%) and Bank of America Corp DE (1.08%). 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 institutional investors are selling Fortinet stock?

FTNT stock was sold by a variety of institutional investors in the last quarter, including AQR Capital Management LLC, Janus Henderson Group PLC, Altshuler Shaham Ltd, MERIAN GLOBAL INVESTORS UK Ltd, MERIAN GLOBAL INVESTORS UK Ltd, Schroder Investment Management Group, Goldman Sachs Group Inc., and Smith Asset Management Group LP. 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 activity for Fortinet.

Which institutional investors are buying Fortinet stock?

FTNT stock was purchased by a variety of institutional investors in the last quarter, including Norges Bank, Renaissance Technologies LLC, 1832 Asset Management L.P., Man Group plc, Bank of Montreal Can, FMR LLC, Pictet Asset Management Ltd., and Bank of America Corp DE. View insider buying and selling activity 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 $100.95.

How big of a company is Fortinet?

Fortinet has a market capitalization of $17.42 billion and generates $2.16 billion in revenue each year. The software maker earns $326.50 million in net income (profit) each year or $1.91 on an earnings per share basis. Fortinet employs 7,082 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:  2.8 out of 5 (star star)
Outperform Votes:  1,100 (Vote Outperform)
Underperform Votes:  857 (Vote Underperform)
Total Votes:  1,957
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 3/30/2020 by MarketBeat.com Staff

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