NASDAQ:FTNTFortinet Stock Price, Forecast & News

$139.58

-3.31 (-2.32 %)

(As of 06/4/2020 04:00 PM ET)

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Today's Range

$137.88

Now: $139.58▼

$143.30

50-Day Range

$100.59

MA: $125.73▼

$145.62

52-Week Range

$70.20

Now: $139.58▼

$149.69

Volume1.09 million shs

Average Volume1.97 million shs

Market Capitalization$22.56 billion

P/E Ratio65.22

Dividend YieldN/A

Beta1

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.

Beat the Market (BTM) Rank^™

2.2 Analyst's Opinion

Consensus Rating
Fortinet has received a consensus rating of Hold. The company's average rating score is 2.42, and is based on 12 buy ratings, 13 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $122.48, Fortinet has a potential downside of 12.3% from its current price of $139.58.
Amount of Analyst Coverage
Fortinet has been the subject of 18 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

2.8 Community Rank

Outperform Votes
Fortinet has received 1,112 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Fortinet has received 870 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Fortinet has received 56.10% “outperform” votes from our community.

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.

0.0 Dividend Strength

Dividend Yield
Fortinet does not currently pay a dividend.
Dividend Growth
Fortinet does not have a long track record of dividend growth.

1.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Fortinet insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $6,153,955.00 in company stock.
Percentage Held by Insiders
Only 17.20% of the stock of Fortinet is held by insiders.
Percentage Held by Institutions
72.10% of the stock of Fortinet is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6 Earnings and Valuation

Earnings Growth
Earnings for Fortinet are expected to grow by 17.84% in the coming year, from $1.85 to $2.18 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Fortinet is 65.22, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 16.21.
Price to Earnings Ratio vs. Sector
The P/E ratio of Fortinet is 65.22, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 39.64.
Price to Earnings Growth Ratio
Fortinet has a PEG Ratio of 5.57. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Fortinet has a P/B Ratio of 18.06. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

1.33 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NASDAQ

Industry Computer peripheral equipment, not elsewhere classified

Sub-IndustrySystems Software

SectorComputer and Technology

Current SymbolNASDAQ:FTNT

Previous Symbol

CUSIP34959E10

CIK1262039

Webwww.fortinet.com

Phone408-235-7700

Debt

Debt-to-Equity RatioN/A

Current Ratio1.32

Quick Ratio1.25

Price-To-Earnings

Trailing P/E Ratio65.22

Forward P/E Ratio75.45

P/E Growth5.57

Sales & Book Value

Annual Sales$2.16 billion

Price / Sales10.46

Cash Flow$2.82 per share

Price / Cash Flow49.42

Book Value$7.73 per share

Price / Book18.06

Profitability

EPS (Most Recent Fiscal Year)$1.91

Net Income$326.50 million

Net Margins16.44%

Return on Equity32.91%

Return on Assets9.82%

Miscellaneous

Employees7,082

Outstanding Shares161,649,000

Market Cap$22.56 billion

Next Earnings Date8/6/2020 (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 COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization (WHO). Since then, FTNT stock has increased by 58.7% and is now trading at $139.58. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Fortinet?

26 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 1 sell rating, 13 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, August 6th 2020. View our earnings forecast for Fortinet.

How were Fortinet's earnings last quarter?

Fortinet Inc (NASDAQ:FTNT) released its quarterly earnings results on Wednesday, May, 6th. The software maker reported $0.60 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.50 by $0.10. The software maker had revenue of $576.90 million for the quarter, compared to analyst estimates of $554.22 million. Fortinet had a return on equity of 32.91% and a net margin of 16.44%. Fortinet's revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the company posted $0.46 earnings per share. View Fortinet's earnings history.

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

Fortinet updated its second quarter earnings guidance on Wednesday, May, 6th. The company provided earnings per share (EPS) guidance of $0.64-0.66 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.59. The company issued revenue guidance of $590-605 million, compared to the consensus revenue estimate of $586.21 million.

What price target have analysts set for FTNT?

26 analysts have issued 1 year price objectives for Fortinet's stock. Their forecasts range from $92.00 to $170.00. On average, they expect Fortinet's stock price to reach $122.48 in the next twelve months. This suggests that the stock has a possible downside of 12.3%. 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)

Has Fortinet been receiving favorable news coverage?

News coverage about FTNT stock has been trending very negative this week, InfoTrie Sentiment Analysis reports. InfoTrie identifies positive and negative media coverage by monitoring more than six thousand blog and news sources in real time. The firm ranks coverage of companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Fortinet earned a coverage optimism score of -3.2 on InfoTrie's scale. They also gave news headlines about the software maker a news buzz of 10.0 out of 10, indicating that recent media coverage is extremely likely to have an impact on the stock's share price in the near future. View the latest news aboutFortinet.

Are investors shorting Fortinet?

Fortinet saw a decline in short interest in April. As of April 30th, there was short interest totaling 5,500,000 shares, a decline of 21.5% from the April 15th total of 7,010,000 shares. Based on an average trading volume of 2,260,000 shares, the short-interest ratio is presently 2.4 days. Currently, 3.8% of the company's stock are short sold. View Fortinet's Current Options Chain.

Who are some of Fortinet's key competitors?

Some companies that are related to Fortinet include Microsoft (MSFT), Oracle (ORCL), ServiceNow (NOW), VMware (VMW), Symantec (SYMC), Proofpoint (PFPT), Qualys (QLYS), CommVault Systems (CVLT), Progress Software (PRGS), TiVo (TIVO) and FalconStor Software (FALC). View all 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), Paypal (PYPL), salesforce.com (CRM), Walt Disney (DIS), Netflix (NFLX), Adobe (ADBE), Cisco Systems (CSCO), Intel (INTC) and Mastercard (MA).

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 BlackRock Inc. (6.94%), State Street Corp (3.60%), Geode Capital Management LLC (1.70%), Pictet Asset Management Ltd. (1.05%), Invesco Ltd. (0.86%) and Legal & General Group Plc (0.83%). Company insiders that own Fortinet stock include Christopher B Paisley, John Whittle, 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 Two Sigma Investments LP, Altshuler Shaham Ltd, Two Sigma Advisers LP, Nuveen Asset Management LLC, AQR Capital Management LLC, Schroder Investment Management Group, Clearbridge Investments LLC, and AXA. 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 major investors are buying Fortinet stock?

FTNT stock was acquired by a variety of institutional investors in the last quarter, including Deutsche Bank AG, Assenagon Asset Management S.A., First Trust Advisors LP, Wells Fargo & Company MN, BlackRock Inc., APG Asset Management N.V., Hexavest Inc., and Mitsubishi UFJ Trust & Banking Corp. 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 $139.58.

How big of a company is Fortinet?

Fortinet has a market capitalization of $22.56 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.

What is Fortinet's official website?

The official website for Fortinet is 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]

This page was last updated on 6/4/2020 by MarketBeat.com Staff