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.
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Industry, Sector and Symbol
Industry Computer peripheral equipment, not elsewhere classified
Sub-IndustrySystems Software
SectorComputer and Technology
Phone408-235-7700
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$2.16 billion
Profitability
Miscellaneous
Employees5,845
Next Earnings Date5/7/2020 (Estimated)
OptionableOptionable
Fortinet (NASDAQ:FTNT) Frequently Asked Questions
What is Fortinet's stock symbol?
Fortinet trades on the NASDAQ under the ticker symbol "FTNT."
How were Fortinet's earnings last quarter?
Fortinet Inc (NASDAQ:FTNT) released its quarterly earnings data on Thursday, February, 6th. The software maker reported $0.76 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.70 by $0.06. The software maker earned $614.40 million during the quarter, compared to the consensus estimate of $602.89 million. Fortinet had a return on equity of 27.51% and a net margin of 15.14%. The company's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. View Fortinet's Earnings History.
When is Fortinet's next earnings date?
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?
26 brokers have issued twelve-month price targets for Fortinet's stock. Their forecasts range from $80.00 to $150.00. On average, they anticipate Fortinet's share price to reach $116.21 in the next twelve months. This suggests a possible upside of 1.5% from the stock's current price. View Analyst Price Targets for Fortinet.
What is the consensus analysts' recommendation for Fortinet?
26 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 1 sell rating, 12 hold ratings and 13 buy ratings for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings 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?
News stories about FTNT stock have trended somewhat negative recently, according to InfoTrie. The research group identifies positive and negative media coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. Fortinet earned a news impact score of -1.3 on InfoTrie's scale. They also assigned media 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 effect on the stock's share price in the next several days. View News Stories for Fortinet.
Are investors shorting Fortinet?
Fortinet saw a decrease in short interest in January. As of January 31st, there was short interest totalling 4,100,000 shares, a decrease of 11.8% from the January 15th total of 4,650,000 shares. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.9% of the shares of the 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?
Who are Fortinet's key executives?
Fortinet's management team includes the folowing 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
Who are Fortinet's major shareholders?
Fortinet's stock is owned by a variety of of institutional and retail investors. Top institutional investors 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 for Fortinet.
Which institutional investors are buying Fortinet stock?
FTNT stock was acquired by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, 1832 Asset Management L.P., Man Group plc, Bank of Montreal Can, FMR LLC, Pictet Asset Management Ltd., Bank of America Corp DE and National Pension Service. View Insider Buying and Selling 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 $114.48.
How big of a company is Fortinet?
Fortinet has a market capitalization of $19.58 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 5,845 workers across the globe.View Additional Information About Fortinet.
What is Fortinet's official website?
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)
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.
