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    FTNT   US34959E1091

FORTINET, INC.

(FTNT)
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Fortinet: Q2 Earnings Snapshot

07/29/2021 | 04:24pm EDT

SUNNYVALE, Calif. (AP) _ Fortinet Inc. (FTNT) on Thursday reported second-quarter earnings of $137.5 million.

On a per-share basis, the Sunnyvale, California-based company said it had profit of 82 cents. Earnings, adjusted for one-time gains and costs, were 95 cents per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The network security company posted revenue of $801.1 million in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $741.8 million.

For the current quarter ending in October, Fortinet expects its per-share earnings to range from 90 cents to 95 cents.

The company said it expects revenue in the range of $800 million to $815 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $773.6 million.

Fortinet expects full-year earnings in the range of $3.75 to $3.90 per share, with revenue ranging from $3.21 billion to $3.25 billion.

Fortinet shares have risen 85% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $274.21, more than doubling in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTNT at https://www.zacks.com/ap/FTNT

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News

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Analyst Recommendations on FORTINET, INC.
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Financials (USD)
Sales 2021 3 239 M - -
Net income 2021 534 M - -
Net cash 2021 2 648 M - -
P/E ratio 2021 94,6x
Yield 2021 -
Capitalization 48 913 M 48 913 M -
EV / Sales 2021 14,3x
EV / Sales 2022 11,9x
Nbr of Employees 9 043
Free-Float 81,8%
Chart FORTINET, INC.
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Technical analysis trends FORTINET, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 299,49 $
Average target price 298,54 $
Spread / Average Target -0,32%
EPS Revisions
Managers and Directors
Ken Xie Chairman & Chief Executive Officer
Michael Xie President, Director & Chief Technology Officer
Keith Franklin Jensen CFO, Chief Accounting Officer & Controller
Phil Quade Chief Information Security Officer
William H. Neukom Lead Independent Director
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