Fortinet (FTNT) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Fortinet (NASDAQ:FTNT) announced its earnings results on Wednesday. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.01, StockRatingsNetwork.com reports. The company had revenue of $177.40 million for the quarter, compared to the consensus estimate of $165.97 million.
A number of research firms have recently commented on FTNT. Analysts at JMP Securities upgraded shares of Fortinet from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $26.00 price target on the stock. On a related note, analysts at Wedbush upgraded shares of Fortinet from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, January 15th. They now have a $24.00 price target on the stock, up previously from $21.00. Finally, analysts at Morgan Stanley upgraded shares of Fortinet from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, January 13th. They now have a $25.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Fortinet currently has a consensus rating of “Buy” and an average target price of $24.33.
Fortinet, Inc (NASDAQ:FTNT) provides network security solutions.
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