Fortinet (NASDAQ:FTNT) Releases Q4 2021 Earnings Guidance

Fortinet (NASDAQ:FTNT) updated its fourth quarter 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.100-$1.150 for the period, compared to the Thomson Reuters consensus estimate of $1.160. The company issued revenue guidance of $940 million-$970 million, compared to the consensus revenue estimate of $916.51 million.Fortinet also updated its FY 2021 guidance to $3.850-$3.950 EPS.

A number of research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Fortinet from $320.00 to $355.00 and gave the company an equal weight rating in a research report on Friday, November 5th. BMO Capital Markets boosted their target price on shares of Fortinet from $335.00 to $375.00 and gave the company a market perform rating in a research report on Friday, November 5th. Oppenheimer boosted their target price on shares of Fortinet from $345.00 to $400.00 and gave the company an outperform rating in a research report on Friday, November 5th. Mizuho boosted their target price on shares of Fortinet from $310.00 to $355.00 and gave the company a neutral rating in a research report on Friday, November 5th. Finally, Colliers Securities reiterated a buy rating and set a $350.00 target price on shares of Fortinet in a research report on Tuesday, September 21st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $308.09.

Shares of NASDAQ FTNT traded up $5.76 during trading on Thursday, hitting $333.24. The stock had a trading volume of 589,163 shares, compared to its average volume of 1,035,280. Fortinet has a 12 month low of $119.00 and a 12 month high of $355.35. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.80 and a quick ratio of 1.72. The company has a market capitalization of $54.48 billion, a PE ratio of 100.37, a PEG ratio of 8.00 and a beta of 1.13. The firm has a fifty day moving average of $320.99 and a two-hundred day moving average of $281.97.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, November 4th. The software maker reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.05. The firm had revenue of $867.20 million during the quarter, compared to analyst estimates of $812.21 million. Fortinet had a net margin of 17.74% and a return on equity of 47.46%. The business’s revenue was up 33.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 EPS. On average, equities analysts expect that Fortinet will post 2.85 earnings per share for the current fiscal year.

In other Fortinet news, CFO Keith Jensen sold 1,550 shares of the stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $339.84, for a total transaction of $526,752.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Whittle sold 2,411 shares of the stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $335.16, for a total transaction of $808,070.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,870 shares of company stock valued at $3,546,234. 18.60% of the stock is owned by company insiders.

Fortinet Company Profile

Fortinet, Inc provides cybersecurity solutions to variety of business, such as enterprises, communication service providers and small businesses. It operates through the following segments: Network Security; Infrastructure Security; Cloud Security; and Endpoint Protection, Internet of Things and Operational Technology.

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Earnings History and Estimates for Fortinet (NASDAQ:FTNT)

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