Fortinet (FTNT) Expected to Announce Quarterly Earnings on Thursday

Fortinet (NASDAQ:FTNT - Get Free Report) is anticipated to announce its earnings results after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $0.60 per share and revenue of $1.60 billion for the quarter. Investors interested in listening to the company's conference call can do so using this link.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Thursday, November 7th. The software maker reported $0.56 EPS for the quarter, beating the consensus estimate of $0.43 by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Fortinet had a return on equity of 973.30% and a net margin of 26.79%. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, analysts expect Fortinet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortinet Stock Up 1.2 %

Fortinet stock traded up $1.18 during mid-day trading on Thursday, hitting $100.51. The company had a trading volume of 1,939,601 shares, compared to its average volume of 3,960,189. The stock has a market cap of $77.04 billion, a price-to-earnings ratio of 50.79, a PEG ratio of 2.58 and a beta of 1.00. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. Fortinet has a 1 year low of $54.57 and a 1 year high of $102.17. The business has a fifty day moving average of $96.12 and a 200 day moving average of $82.56.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Barclays raised their price target on Fortinet from $85.00 to $95.00 and gave the stock an "equal weight" rating in a report on Friday, November 8th. Wells Fargo & Company boosted their target price on Fortinet from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Tuesday, November 19th. Citigroup increased their price target on Fortinet from $100.00 to $101.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of Fortinet from $99.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $105.00 target price (up previously from $85.00) on shares of Fortinet in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $96.83.

Insider Activity

In related news, Director William H. Neukom bought 355 shares of the firm's stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $98.50 per share, with a total value of $34,967.50. Following the completion of the transaction, the director now directly owns 150,245 shares of the company's stock, valued at approximately $14,799,132.50. This represents a 0.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith Jensen sold 4,250 shares of Fortinet stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total transaction of $386,027.50. Following the sale, the chief financial officer now owns 4,689 shares in the company, valued at $425,901.87. This represents a 47.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,860 shares of company stock valued at $6,469,056 in the last three months. Corporate insiders own 18.00% of the company's stock.

Fortinet Company Profile

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.