Fortinet (NASDAQ:FTNT) issued an update on its fourth quarter 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $1.100-$1.150 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.160. The company issued revenue guidance of $940 million-$970 million, compared to the consensus revenue estimate of $916.51 million.Fortinet also updated its FY 2021 guidance to $3.850-$3.950 EPS.
FTNT traded up $5.76 during trading hours on Thursday, reaching $333.24. The company’s stock had a trading volume of 589,163 shares, compared to its average volume of 1,035,280. Fortinet has a 52 week low of $119.00 and a 52 week high of $355.35. The company’s 50-day moving average is $320.41 and its 200-day moving average is $281.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.72 and a current ratio of 1.80. The firm has a market cap of $54.48 billion, a PE ratio of 100.37, a price-to-earnings-growth ratio of 8.00 and a beta of 1.13.
Fortinet (NASDAQ:FTNT) last released its earnings results on Thursday, November 4th. The software maker reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.05. The company had revenue of $867.20 million for the quarter, compared to analyst estimates of $812.21 million. Fortinet had a return on equity of 47.46% and a net margin of 17.74%. Fortinet’s quarterly revenue was up 33.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. Equities analysts anticipate that Fortinet will post 2.85 earnings per share for the current fiscal year.
In other Fortinet news, VP John Whittle sold 2,411 shares of the company’s stock in a transaction that occurred on Tuesday, September 21st. The stock was sold at an average price of $302.00, for a total transaction of $728,122.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Xie sold 2,088 shares of the stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $327.80, for a total value of $684,446.40. The disclosure for this sale can be found here. Insiders sold a total of 10,870 shares of company stock worth $3,546,234 over the last 90 days. Corporate insiders own 18.60% of the company’s stock.
Fortinet, Inc provides cybersecurity solutions to variety of business, such as enterprises, communication service providers and small businesses. It operates through the following segments: Network Security; Infrastructure Security; Cloud Security; and Endpoint Protection, Internet of Things and Operational Technology.
Further Reading: Swap
Receive News & Ratings for Fortinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortinet and related companies with MarketBeat.com's FREE daily email newsletter.