Fortinet (NASDAQ:FTNT – Get Free Report) is scheduled to announce its earnings results after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of $0.41 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.
Fortinet (NASDAQ:FTNT – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The software maker reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. Fortinet had a net margin of 22.23% and a negative return on equity of 2,235.48%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect Fortinet to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Fortinet Trading Down 1.2 %
Shares of FTNT stock opened at $56.51 on Monday. The stock’s 50-day moving average price is $59.16 and its 200-day moving average price is $63.69. Fortinet has a 12-month low of $44.12 and a 12-month high of $76.00. The stock has a market capitalization of $43.17 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 2.79 and a beta of 0.98.
Insider Activity
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Cantor Fitzgerald decreased their price objective on Fortinet from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Susquehanna decreased their price target on shares of Fortinet from $80.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Piper Sandler dropped their price objective on shares of Fortinet from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Truist Financial decreased their target price on shares of Fortinet from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Finally, TD Cowen upgraded Fortinet from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.00.
Read Our Latest Analysis on FTNT
About Fortinet
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.
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