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NASDAQ:FTNTFortinet Stock Price, Forecast & News

$139.20
+4.53 (+3.36 %)
(As of 05/29/2020 04:00 PM ET)
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Today's Range
$135.29
Now: $139.20
$139.49
50-Day Range
$100.59
MA: $121.16
$145.62
52-Week Range
$68.87
Now: $139.20
$149.69
Volume1.69 million shs
Average Volume1.87 million shs
Market Capitalization$22.50 billion
P/E Ratio65.05
Dividend YieldN/A
Beta0.92
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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Beat the Market (BTM) Rank

Analyst Opinion: 2.2Community Rank: 2.8Dividend Strength: 0.0Insider Behavior: 1.0Valuation: 0.6 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

1.33 out of 5 stars


Industry, Sector and Symbol

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

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$2.16 billion
Cash Flow$2.91 per share
Book Value$3.32 per share

Profitability

Net Income$326.50 million

Miscellaneous

Employees7,082
Market Cap$22.50 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 Coronavirus reached pandemic status according to the World Health Organization. Since then, FTNT stock has increased by 58.3% and is now trading at $139.20. 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) issued its quarterly earnings results on Wednesday, May, 6th. The software maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. The software maker had revenue of $576.90 million for the quarter, compared to analysts' expectations of $554.22 million. Fortinet had a return on equity of 32.91% and a net margin of 16.44%. The business's revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. 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 earnings per share 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 brokers have issued twelve-month price objectives for Fortinet's stock. Their forecasts range from $92.00 to $160.00. On average, they anticipate Fortinet's share price to reach $121.68 in the next twelve months. This suggests that the stock has a possible downside of 12.6%. 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?

Media headlines about FTNT stock have been trending somewhat negative on Sunday, according to InfoTrie. InfoTrie rates the sentiment of media coverage by analyzing more than six thousand blog and news sources. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Fortinet earned a news sentiment score of -1.0 on InfoTrie's scale. They also gave media coverage about the software maker a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an effect on the stock's share price in the near term. View the latest news aboutFortinet.

Are investors shorting Fortinet?

Fortinet saw a drop in short interest during the month of April. As of April 30th, there was short interest totaling 5,500,000 shares, a drop of 21.5% from the April 15th total of 7,010,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 3.8% of the company's shares 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), 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 variety of institutional and retail 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 bought 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 $139.20.

How big of a company is Fortinet?

Fortinet has a market capitalization of $22.50 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 5/31/2020 by MarketBeat.com Staff

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