News articles about Fortinet (NASDAQ:FTNT) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Fortinet earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave headlines about the software maker an impact score of 46.4060157442539 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the headlines that may have impacted Accern Sentiment’s scoring:
- Antivirus Software Market Global Manufacturers: Avast Software, Fortinet, Bitdefender, F-Secure and ESET (theanalystfinancial.com)
- Stocks Performances and Technical’s to scrutinize – Spectrum Pharmaceuticals, Inc., NASDAQ: SPPI), Fortinet, Inc … (dailynysenews.com)
- Stocks on Trader’s Radar: Fortinet, Inc., (NASDAQ: FTNT), Kosmos Energy Ltd., (NYSE: KOS), Capital One Financial … (nysetradingnews.com)
- Global Cyber Security Market 2018- Technologies, Fortinet, ESET, Venustech, H3C, NSFOCUS etc., (theanalystfinancial.com)
- Global Data Center Security Market Outlook 2018-2022: HP, Dell, Fortinet, IBM (nwctrail.com)
FTNT has been the topic of several research reports. Credit Suisse Group raised their price target on Fortinet from $33.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. Oppenheimer raised their price target on Fortinet from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, March 27th. Deutsche Bank lowered Fortinet from a “buy” rating to a “hold” rating and set a $46.00 price target on the stock. in a research note on Tuesday, January 23rd. Robert W. Baird raised their price target on Fortinet from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, January 11th. Finally, Zacks Investment Research lowered Fortinet from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Fortinet has a consensus rating of “Buy” and a consensus target price of $50.58.
Shares of FTNT stock traded down $0.18 during trading hours on Wednesday, reaching $57.49. 804,084 shares of the company’s stock were exchanged, compared to its average volume of 1,650,000. Fortinet has a 1 year low of $35.44 and a 1 year high of $57.98. The firm has a market capitalization of $9,537.05, a price-to-earnings ratio of 110.56, a PEG ratio of 4.56 and a beta of 0.71.
Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Monday, February 5th. The software maker reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.03. Fortinet had a return on equity of 11.77% and a net margin of 2.10%. The business had revenue of $416.70 million for the quarter, compared to analyst estimates of $409.04 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. equities analysts expect that Fortinet will post 0.74 earnings per share for the current year.
In other news, CEO Ken Xie sold 89,423 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $45.08, for a total transaction of $4,031,188.84. Following the sale, the chief executive officer now owns 12,608,811 shares in the company, valued at $568,405,199.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 4,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $46.71, for a total value of $186,840.00. Following the sale, the director now owns 72,937 shares in the company, valued at approximately $3,406,887.27. The disclosure for this sale can be found here. Insiders have sold 156,190 shares of company stock worth $7,114,541 in the last 90 days. Insiders own 17.00% of the company’s stock.
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Fortinet, Inc is a network security company. The Company provides cyber security solutions to a range of enterprises, service providers and government organizations across the world. Its network security solution consists of FortiGate physical, virtual machine and cloud platforms, which provide integrated security and networking functions to protect data, applications and users from network-and content-level security threats.
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