Fortinet (FTNT) Scheduled to Post Quarterly Earnings on Thursday

Fortinet (NASDAQ:FTNT) is scheduled to issue its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Fortinet (NASDAQ:FTNT) last released its earnings results on Monday, February 5th. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. Fortinet had a net margin of 21.64% and a negative return on equity of 7,572.46%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the business earned $0.38 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, analysts expect Fortinet to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortinet Price Performance

NASDAQ FTNT opened at $65.45 on Thursday. Fortinet has a 12 month low of $44.12 and a 12 month high of $81.24. The stock has a market cap of $49.94 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 2.83 and a beta of 1.08. The company’s 50 day moving average is $68.17 and its two-hundred day moving average is $61.70. The company has a current ratio of 1.19, a quick ratio of 1.06 and a debt-to-equity ratio of 13.38.

Insiders Place Their Bets

In other news, VP Michael Xie sold 38,369 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $66.45, for a total transaction of $2,549,620.05. Following the completion of the transaction, the vice president now directly owns 29,887,018 shares in the company, valued at approximately $1,985,992,346.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Fortinet news, CEO Ken Xie sold 23,694 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $71.40, for a total value of $1,691,751.60. Following the sale, the chief executive officer now owns 48,625,005 shares of the company’s stock, valued at approximately $3,471,825,357. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Xie sold 38,369 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $66.45, for a total value of $2,549,620.05. Following the completion of the sale, the vice president now directly owns 29,887,018 shares in the company, valued at approximately $1,985,992,346.10. The disclosure for this sale can be found here. Insiders sold 132,139 shares of company stock valued at $8,977,876 in the last three months. 17.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Fortinet from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Stifel Nicolaus lifted their price objective on shares of Fortinet from $52.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $65.00 price objective on shares of Fortinet in a research report on Wednesday, April 17th. Scotiabank lifted their price objective on shares of Fortinet from $70.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets lifted their price objective on shares of Fortinet from $70.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and a consensus price target of $72.19.

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.