Fortinet Company Profile (NASDAQ:FTNT)

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

Fortinet declared that its Board of Directors has approved a stock buyback program on Thursday, July 27th 2017, which allows the company to buyback $300,000,000.00 in shares, according to EventVestor. This buyback authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Fortinet, Inc. (NASDAQ:FTNT) posted its quarterly earnings data on Wednesday, July, 26th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.20 by $0.07. The firm earned $363.50 million during the quarter, compared to analyst estimates of $361.05 million. Fortinet had a return on equity of 7.34% and a net margin of 3.06%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 EPS. View Fortinet's Earnings History.

Fortinet updated its FY17 earnings guidance on Wednesday, July, 26th. The company provided earnings per share (EPS) guidance of $0.94-0.96 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.91. The company issued revenue guidance of $1.487-1.495 billion, compared to the consensus revenue estimate of $1.49 billion.Fortinet also updated its Q3 guidance to $0.22-0.23 EPS.

27 equities research analysts have issued 1 year price objectives for Fortinet's shares. Their forecasts range from $31.00 to $50.00. On average, they anticipate Fortinet's stock price to reach $41.04 in the next twelve months. View Analyst Ratings for Fortinet.

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

• 1. Robert W. Baird analysts commented, "We believe expectations were somewhat elevated coming into the print. Management called out delays in Telco Service Provider offset but positive trends in Enterprise." (7/27/2017)
• 2. Evercore ISI analysts commented, "We believe most segments performed well with the exception of service providers. The company maintained its long-term margin targets (25% by 2022) which remain unaccompanied by growth metrics. FTNT’s board doubled the share repurchase authorization through Jan. 2019, which we view as a positive. We believe the company continues to execute on its push to shift its business towards ratable revenue which should make the topline more predictable and serve as a tailwind to margin expansion. The lack of clarity around the long-term business model remains an overhang that in combination with potentially tough guidance for the remainder of the year should keep the stock range bound in the near-term." (7/27/2017)
• 3. According to Zacks Investment Research, "Fortinet is a provider of network security appliances and Unified Threat Management (UTM) network security solutions. The stock has outperformed the broader market on YTD basis. 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. Nonetheless, competition from key network security players such as Cisco Systems, Check Point, Juniper and Palo Alto Networks, remains a concern." (7/13/2017)

Some companies that are related to Fortinet include Palo Alto Networks (PANW), Total System Services (TSS), Gartner (IT), VeriSign (VRSN), CDW Corporation (CDW), Amdocs Limited (DOX), F5 Networks (FFIV), Jack Henry & Associates (JKHY), Akamai Technologies (AKAM), LogMein (LOGM), CSRA (CSRA), Booz Allen Hamilton Holding Corporation (BAH), NCR Corporation (NCR), EPAM Systems (EPAM), Medidata Solutions (MDSO), Aspen Technology (AZPN), GoDaddy (GDDY) and Proofpoint (PFPT).

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
• Peter D. Cohen, Director

Fortinet's stock is owned by a number of of institutional and retail investors. Top institutional investors include American Capital Management Inc. (0.48%), Diamond Hill Capital Management Inc. (0.19%), KAMES CAPITAL plc (0.08%), Great West Life Assurance Co. Can (0.07%), APG Asset Management N.V. (0.06%) and Bank of Montreal Can (0.05%). 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 Sumitomo Mitsui Asset Management Company LTD, Diamond Hill Capital Management Inc., KAMES CAPITAL plc, Municipal Employees Retirement System of Michigan, Oakbrook Investments LLC and Wright Investors Service Inc.. 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 Spark Investment Management LLC, American Capital Management Inc., NN Investment Partners Holdings N.V., Woodstock Corp, Mn Services Vermogensbeheer B.V., Russell Investments Group Ltd., Fox Run Management L.L.C. and Exchange Capital Management Inc.. 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 $38.42.