NASDAQ:FTNT - Fortinet Stock Price, Price Target & More

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$65.09 +0.77 (+1.20 %)
(As of 06/20/2018 04:00 PM ET)
Previous Close$64.55
Today's Range$64.55 - $65.53
52-Week Range$35.44 - $66.32
Volume76,478 shs
Average Volume1.48 million shs
Market Capitalization$11.12 billion
P/E Ratio125.65
Dividend YieldN/A
Beta0.76
Fortinet logoFortinet, Inc. provides broad, automated, and integrated 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 WAN acceleration; and FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of products, which offers a cloud-ready security information and event management solution for enterprises and service providers. 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; and Fortinet Management and Analysis products consisting of FortiManager and FortiAnalyzer hardware and software products. 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. was founded in 2000 and is headquartered in Sunnyvale, California.

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Industry, Sector and Symbol

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

Debt

Debt-to-Equity RatioN/A
Current Ratio1.69
Quick Ratio1.61

Price-To-Earnings

Trailing P/E Ratio125.65
Forward P/E Ratio73.97
P/E Growth4.51

Sales & Book Value

Annual Sales$1.49 billion
Price / Sales7.32
Cash Flow$0.8451 per share
Price / Cash77.02
Book Value$3.39 per share
Price / Book19.20

Profitability

EPS (Most Recent Fiscal Year)$0.52
Net Income$31.39 million
Net Margins4.01%
Return on Equity14.64%
Return on Assets4.83%

Miscellaneous

Employees5,066
Outstanding Shares168,100,000

Fortinet (NASDAQ:FTNT) Frequently Asked Questions

What is Fortinet's stock symbol?

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

How will Fortinet's stock buyback program work?

Fortinet declared that its board has approved a stock buyback program on Friday, October 27th 2017, which authorizes the company to repurchase $400,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

How were Fortinet's earnings last quarter?

Fortinet Inc (NASDAQ:FTNT) issued its earnings results on Thursday, May, 3rd. The software maker reported $0.33 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.24 by $0.09. The software maker had revenue of $399 million for the quarter, compared to the consensus estimate of $390.60 million. Fortinet had a return on equity of 14.64% and a net margin of 4.01%. Fortinet's revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. View Fortinet's Earnings History.

When is Fortinet's next earnings date?

Fortinet is scheduled to release their next quarterly earnings announcement on Tuesday, July, 24th 2018. View Earnings Estimates for Fortinet.

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

Fortinet updated its FY18 earnings guidance on Thursday, May, 3rd. The company provided earnings per share (EPS) guidance of $1.51-$1.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.44. The company issued revenue guidance of $1.715-$1.735, compared to the consensus revenue estimate of $1.71 billion.Fortinet also updated its Q2 guidance to $0.34-$0.36 EPS.

What price target have analysts set for FTNT?

23 analysts have issued 12-month price targets for Fortinet's shares. Their forecasts range from $43.00 to $70.00. On average, they anticipate Fortinet's share price to reach $55.2381 in the next year. 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, "Estimates for Fortinet have remained stable of late. Notably, the company has outperformed the industry in the last one year. 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, we are slightly concerned over the company’s declining revenue growth rate. Notably, over the last six quarters, the company’s revenue growth rates have been around 20%, which are significantly lower than its previous rates of over 30%. Also, a tepid first quarter revenue outlook makes us slightly cautious about its near-term performance." (5/2/2018)
  • 2. Credit Suisse Group AG analysts commented, "We perceive a change in tone from management towards the investor community, featuring an increased commitment to transparency. Management exhibited confidence in its cloud security portfolio and Fabric product strategy, revealed new metrics around non-FortiGate product, reiterated FY18 guidance and unveiled a new long-term financial model. Focus on Cloud Security: Arguing that a shift to cloud drives a greater need for consistent security across the architecture, Fortinet characterized its cloud security portfolio across five areas (1) Cloud product portfolio (FortiGate VM suite), (2) Connectors, (3) FortiCASB, (4) FortiManager, (5) Automation – API. While management is optimistic the shift to cloud drives greater throughput needs, we continue to question how FTNT’s historical competitive advantage bestowed by superior silicon will sustain in the cloud." (2/28/2018)
  • 3. Robert W. Baird analysts commented, "We continue to see the company as a market share taker with attractive valuation. We are adding FTNT to Baird’s Fresh Pick list with this note. Network Processor [NP] Catalyst. Fortinet refreshes each of its three ASICs every three to four years. A new high-end NP typically offers 2-3x performance over the previous generation, and has historically driven a refresh within the customer base. The current NP6 was released in late C13 and management is currently targeting the next release for C18." (1/11/2018)

Who are some of Fortinet's key competitors?

Who are Fortinet's key executives?

Fortinet's management team includes the folowing people:
  • Mr. Ken Xie, Founder, Chairman & CEO (Age 55)
  • Mr. Michael Xie, Founder, Pres, CTO & Director (Age 49)
  • Mr. John Whittle, VP of Corp. Devel. & Strategic Alliances, Gen. Counsel and Corp. Sec. (Age 49)
  • Mr. Keith F. Jensen, CFO & Chief Accounting Officer (Age 59)
  • Mr. Peter M. Salkowski, VP of Investor Relations

Has Fortinet been receiving favorable news coverage?

Media coverage about FTNT stock has been trending somewhat positive this week, Accern Sentiment reports. The research group identifies positive and negative news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Fortinet earned a daily sentiment score of 0.09 on Accern's scale. They also gave news stories about the software maker an impact score of 47.02 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock's share price in the next several days.

Who are Fortinet's major shareholders?

Fortinet's stock is owned by a variety of of retail and institutional investors. Top institutional investors include BlackRock Inc. (8.24%), Blue Harbour Group L.P. (1.63%), Wasatch Advisors Inc. (1.18%), Prudential Financial Inc. (0.88%), Westfield Capital Management Co. LP (0.79%) and Northern Trust Corp (0.75%). Company insiders that own Fortinet stock include Christopher B Paisley, John Whittle, Judith Sim, Keith Jensen, Ken Xie, Matto Andrew H Del, Michael Xie and Ming Hsieh. 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 Global Thematic Partners LLC, Highland Capital Management LP, JPMorgan Chase & Co., Millennium Management LLC, Frontier Capital Management Co. LLC, ETF Managers Group LLC, Russell Investments Group Ltd. and Thrivent Financial for Lutherans. Company insiders that have sold Fortinet company stock in the last year include Christopher B Paisley, John Whittle, Judith Sim, Keith Jensen, Ken Xie, Michael Xie and Ming Hsieh. 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 Blue Harbour Group L.P., Contour Asset Management LLC, Park West Asset Management LLC, Legal & General Group Plc, Mackay Shields LLC, Sensato Investors LLC, AO Asset Management LP and Wells Fargo & Company MN. 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, Scottrade, Fidelity and Charles Schwab.

What is Fortinet's stock price today?

One share of FTNT stock can currently be purchased for approximately $65.09.

How big of a company is Fortinet?

Fortinet has a market capitalization of $11.12 billion and generates $1.49 billion in revenue each year. The software maker earns $31.39 million in net income (profit) each year or $0.52 on an earnings per share basis. Fortinet employs 5,066 workers across the globe.

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 (FTNT)

Community Ranking:  3.0 out of 5 (star star star)
Outperform Votes:  804 (Vote Outperform)
Underperform Votes:  532 (Vote Underperform)
Total Votes:  1,336
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.
This page was last updated on 6/20/2018 by MarketBeat.com Staff

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