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NASDAQ:FTNT

Fortinet - FTNT Stock Forecast, Price & News

$52.07
-1.54 (-2.87%)
(As of 12/5/2022 09:58 AM ET)
Add
Compare
Today's Range
$52.06
$53.00
50-Day Range
$45.93
$57.16
52-Week Range
$42.61
$74.35
Volume
19,963 shs
Average Volume
6.30 million shs
Market Capitalization
$40.68 billion
P/E Ratio
57.47
Dividend Yield
N/A
Price Target
$67.61

Fortinet MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.81 Rating Score
Upside/​Downside
26.1% Upside
$67.61 Price Target
Short Interest
Healthy
1.33% of Shares Sold Short
Dividend Strength
N/A
Sustainability
-0.69
Upright™ Environmental Score
News Sentiment
0.30mentions of Fortinet in the last 14 days
Based on 6 Articles This Week
Insider Trading
Selling Shares
$171,875 Sold Last Quarter
Proj. Earnings Growth
18.89%
From $0.90 to $1.07 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.13 out of 5 stars

Computer And Technology Sector

6th out of 634 stocks

Computer Peripheral Equipment, Not Elsewhere Classified Industry

1st out of 13 stocks

FTNT stock logo

About Fortinet (NASDAQ:FTNT) Stock

Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. 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. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products. It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiToken and FortiAuthenticator product families for multi-factor authentication to safeguard systems, assets, and data; and FortiEDR/XDR, an endpoint protection solution that provides both comprehensive machine-learning anti-malware execution and real-time post-infection protection. It provides security subscription, technical support, professional, and training services. It sells its security solutions to channel partners and directly to various customers in telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare industries. It has strategic alliance with Linksys. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.

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FTNT Stock News Headlines

Expert Ratings for Fortinet
What 14 Analyst Ratings Have To Say About Fortinet
Fortinet PT Lowered to $62 at KeyBanc
Is Fortinet Stock a Once-in-a-Decade Buying Opportunity?
Here's Our Strategy for Fortinet
Here's Why Fortinet Rose 16% in October
Why Fortinet Stock Crashed Today
See More Headlines
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FTNT Company Calendar

Last Earnings
11/02/2022
Today
12/05/2022
Fiscal Year End
12/31/2022
Next Earnings (Estimated)
2/02/2023

Industry, Sector and Symbol

Industry
Computer peripheral equipment, not elsewhere classified
Sub-Industry
Systems Software
Current Symbol
NASDAQ:FTNT
CUSIP
34959E10
Employees
10,195
Year Founded
2000

Price Target and Rating

Average Stock Price Forecast
$67.61
High Stock Price Forecast
$78.00
Low Stock Price Forecast
$57.00
Forecasted Upside/Downside
+29.8%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.81
Research Coverage
21 Analysts

Profitability

Net Income
$606.80 million
Pretax Margin
19.39%

Debt

Sales & Book Value

Annual Sales
$3.34 billion
Cash Flow
$0.91 per share
Book Value
$0.98 per share

Miscellaneous

Free Float
634,364,000
Market Cap
$40.68 billion
Optionable
Optionable
Beta
1.12

Social Links


Key Executives

  • Mr. Ken  XieMr. Ken Xie (Age 59)
    Founder, Chairman & CEO
    Comp: $1.82M
  • Mr. Michael  XieMr. Michael Xie (Age 53)
    Founder, Pres, CTO & Director
    Comp: $802.67k
  • Mr. Keith F. JensenMr. Keith F. Jensen (Age 63)
    CFO & Chief Accounting Officer
    Comp: $926.34k
  • Mr. John  WhittleMr. John Whittle (Age 53)
    EVP of Corp. Devel., Chief Legal Officer & Corp. Sec.
    Comp: $758.17k
  • Ms. Ana Pease
    VP of Talent Management & Operations
  • Mr. Peter M. Salkowski
    VP of Investor Relations
  • Mr. John Maddison
    Chief Marketing Officer & Exec. VP of Products
  • Mr. Chris Perna
    VP of Talent Acquisition
  • Mr. Patrice Perche (Age 60)
    Exec. VP of Support & Chief Revenue Officer
  • Pedro Paixao
    Pres for Latin America and Gen. Mang. for Latin America













FTNT Stock - Frequently Asked Questions

Should I buy or sell Fortinet stock right now?

21 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 4 hold ratings and 17 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" FTNT shares.
View FTNT analyst ratings
or view top-rated stocks.

What is Fortinet's stock price forecast for 2023?

21 Wall Street research analysts have issued 1 year price objectives for Fortinet's shares. Their FTNT share price forecasts range from $57.00 to $78.00. On average, they predict the company's share price to reach $67.61 in the next year. This suggests a possible upside of 26.1% from the stock's current price.
View analysts price targets for FTNT
or view top-rated stocks among Wall Street analysts.

How have FTNT shares performed in 2022?

Fortinet's stock was trading at $71.88 at the start of the year. Since then, FTNT stock has decreased by 25.4% and is now trading at $53.61.
View the best growth stocks for 2022 here
.

Are investors shorting Fortinet?

Fortinet saw a increase in short interest in November. As of November 15th, there was short interest totaling 10,360,000 shares, an increase of 19.2% from the October 31st total of 8,690,000 shares. Based on an average daily volume of 5,530,000 shares, the days-to-cover ratio is presently 1.9 days.
View Fortinet's Short Interest
.

When is Fortinet's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, February 2nd 2023.
View our FTNT earnings forecast
.

How were Fortinet's earnings last quarter?

Fortinet, Inc. (NASDAQ:FTNT) issued its earnings results on Wednesday, November, 2nd. The software maker reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.08. The software maker had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fortinet had a net margin of 18.12% and a trailing twelve-month return on equity of 9,183.04%. The firm's quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS.
Read the conference call transcript
.

When did Fortinet's stock split?

Shares of Fortinet split on Thursday, June 23rd 2022. The 5-1 split was announced on Thursday, June 9th 2022. The newly created shares were payable to shareholders after the closing bell on Wednesday, June 22nd 2022. An investor that had 100 shares of stock prior to the split would have 500 shares after the split.

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

Fortinet issued an update on its fourth quarter 2022 earnings guidance on Wednesday, November, 9th. The company provided EPS guidance of $0.38-$0.40 for the period, compared to the consensus earnings per share estimate of $0.35. The company issued revenue guidance of $1.27 billion-$1.31 billion, compared to the consensus revenue estimate of $1.27 billion.

What is Ken Xie's approval rating as Fortinet's CEO?

640 employees have rated Fortinet Chief Executive Officer Ken Xie on Glassdoor.com. Ken Xie has an approval rating of 95% among the company's employees. This puts Ken Xie in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

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 (CRM), Walt Disney (DIS), Mastercard (MA), Netflix (NFLX), Block (SQ), Intel (INTC) and Adobe (ADBE).

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 investors include Vanguard Group Inc. (8.59%), BlackRock Inc. (6.62%), State Street Corp (3.27%), Alliancebernstein L.P. (2.96%), Price T Rowe Associates Inc. MD (2.78%) and Bank of New York Mellon Corp (2.64%). Insiders that own company stock include Christopher B Paisley, John Whittle, Keith Jensen, Kelly Ducourty, Michael Xie and William H Neukom.
View institutional ownership trends
.

How do I buy shares of Fortinet?

Shares of FTNT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Fortinet's stock price today?

One share of FTNT stock can currently be purchased for approximately $53.61.

How much money does Fortinet make?

Fortinet (NASDAQ:FTNT) has a market capitalization of $41.88 billion and generates $3.34 billion in revenue each year. The software maker earns $606.80 million in net income (profit) each year or $0.9060 on an earnings per share basis.

How many employees does Fortinet have?

The company employs 10,195 workers across the globe.

Does Fortinet have any subsidiaries?
The following companies are subsidiares of Fortinet: 3Crowd Technologies, AJ Holdings 1 K.K., AJ Holdings 2 K.K., ALAXALA Networks Corporation, AccelOps, Accelops China, Bradford Networks, Coyote Point Systems, CyberSponse, CyberSponse Inc., CyberSponse India Private Limited, Fortinet Austria GmbH, Fortinet BV, Fortinet Belgium BV, Fortinet Branch Holding Company, Fortinet Colombia S.A.S, Fortinet Denmark ApS, Fortinet Federal Inc., Fortinet Finland Oy, Fortinet GmbH, Fortinet Holding LLC, Fortinet Information Technology (Beijing) Co. Ltd., Fortinet International Inc., Fortinet Japan G.K., Fortinet Malaysia SDN. BHD., Fortinet Mexico S. de R.L. de C.V., Fortinet Network Security Brazil Limitada, Fortinet Networks Mauritius Ltd, Fortinet Networks Romania S.R.L., Fortinet Portugal Unipessoal Lda, Fortinet S.A.R.L., Fortinet Security Israel Ltd., Fortinet Security Italy S.R.L., Fortinet Security Korea Ltd., Fortinet Security LLC, Fortinet Security NZ Limited, Fortinet Security Network (Thailand) Ltd., Fortinet Security Philippines Inc., Fortinet Security Spain S.L., Fortinet Singapore Private Limited, Fortinet Switzerland GmbH, Fortinet Technologies (Canada) ULC, Fortinet Technologies India Private Limited, Fortinet Turkey Güvenlik Sistemleri Limited Şirketi, Fortinet UK Ltd., Holdings 1502 Enterprises Ltd., Holdings 1504 Enterprises Inc., IPLocks, IntruGuard, Linksys Cayman LLC, Linksys HK Limited, Linksys Holdings Inc., Linksys PTE LTD, Linksys Trading Shanghai Co. Ltd, Linksys UK Limited, Meru Networks, OPAQ Networks, OPAQ Networks Inc., PT Fortinet Indonesia Security, Panopta, Panopta Holdings LLC, Panopta LLC, Secure Element, ShieldX Networks, Sken.ai, TalkSwitch, Volon Cyber Security Private Limited, Woven Systems, ZoneFox, enSilo, enSilo Inc., and enSilo Ltd..
Read More
How can I contact Fortinet?

Fortinet's mailing address is 899 KIFER ROAD, SUNNYVALE CA, 94086. The official website for the company is www.fortinet.com. The software maker can be reached via phone at (408) 235-7700, via email at investors@fortinet.com, or via fax at 408-235-7737.

This page (NASDAQ:FTNT) was last updated on 12/5/2022 by MarketBeat.com Staff