 | Your browser does not display parts of our website correctly. We use the latest technology available to provide you with a high quality experience; please upgrade your browser to its latest version to view the contents properly: |
Fortinet, Inc. (FTNT) provides broad, automated, and integrated cybersecurity solutions worldwide.
It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and WAN acceleration; and FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of products, which offers a cloud-ready security information and event management solution for enterprises and service providers.
The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers end devices, such as computers and laptops, as well as an expanding field of Internet of Things devices; and Fortinet Management and Analysis products consisting of FortiManager and FortiAnalyzer hardware and software products. In addition, it provides security subscription, technical support, professional, and training services.
The company sells its security solutions to channel partners; and directly to end-customers, including small and medium-sized businesses, large enterprises, and government organizations in a range of industries consisting of telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare.
Shares have are heading higher following the trendline shown in blue. The company reports its results on August 1st. On May 2nd, it reported 1st Quarter March 2019 earnings of $0.46 per share on revenue of $472.6 million. The consensus earnings estimate was $0.39 per share on revenue of $471.8 million. Revenue grew 18.4% on a year-over-year basis.
The company said it expects second quarter non-GAAP earnings of $0.49 to $0.51 per share on revenue of $505.0 million to $515.0 million. The current consensus earnings estimate is $0.49 per share on revenue of $510.0 million for the quarter ending June 30, 2019. The company said it expects 2019 earnings of $2.10 to $2.15 per share on revenue of $2.07 billion to $2.10 billion. The company's previous guidance was earnings of $2.05 to $2.10 per share on revenue of $2.06 billion to $2.10 billion and the current consensus earnings estimate is $2.07 per share on revenue of $2.08 billion for the year ending December 31, 2019.
Entry Point: $82.50
Stop Loss: $78.00
Trading Range: $62.37 to $96.96
Target Price: $90.80
FTNT closed at $92.16
