Fortinet (NASDAQ:FTNT – Get Free Report) is scheduled to announce its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.
Fortinet (NASDAQ:FTNT – Get Free Report) last issued its earnings results on Monday, February 5th. The software maker reported $0.51 earnings per share 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 firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business earned $0.38 earnings per share. The company’s quarterly revenue was up 10.3% 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 1.7 %
Shares of Fortinet stock opened at $63.18 on Wednesday. The firm has a market cap of $48.21 billion, a PE ratio of 43.57, a PEG ratio of 2.85 and a beta of 1.08. Fortinet has a 1 year low of $44.12 and a 1 year high of $81.24. The company has a 50 day simple moving average of $67.88 and a two-hundred day simple moving average of $61.83. The company has a debt-to-equity ratio of 13.38, a current ratio of 1.19 and a quick ratio of 1.06.
Wall Street Analyst Weigh In
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Insider Buying and Selling at Fortinet
In related 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 value of $2,549,620.05. Following the completion of the transaction, the vice president now directly owns 29,887,018 shares of the company’s stock, valued at approximately $1,985,992,346.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fortinet news, VP Michael Xie sold 38,369 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ken Xie sold 23,992 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $64.75, for a total value of $1,553,482.00. Following the transaction, the chief executive officer now owns 48,660,648 shares of the company’s stock, valued at $3,150,776,958. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,139 shares of company stock valued at $8,977,876. 17.54% of the stock is owned by company insiders.
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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