Media coverage about Fortinet (NASDAQ:FTNT) has been trending somewhat positive this week, Accern reports. The research firm rates the sentiment of press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Fortinet earned a news sentiment score of 0.20 on Accern’s scale. Accern also gave media coverage about the software maker an impact score of 46.7548744433907 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news headlines that may have effected Accern’s analysis:
- Fortinet, Inc. (FTNT) Given Consensus Recommendation of “Buy” by Analysts (americanbankingnews.com)
- Insider Selling: Fortinet, Inc. (FTNT) VP Sells 3,585 Shares of Stock (americanbankingnews.com)
- Head-To-Head Survey: Fortinet (FTNT) vs. Its Peers (americanbankingnews.com)
- Microsoft Corporation (MSFT) and Fortinet, Inc. (FTNT) closes with a move of -1.62% – Stocks Gallery (stocksgallery.com)
- Fortinet, Inc. (FTNT) Stock Price stands -1.14% away from 20 SMA … – Voice Of Analysts (analystsbuzz.com)
A number of analysts recently commented on the stock. Cowen and Company reiterated a “buy” rating and issued a $43.00 target price on shares of Fortinet in a research note on Friday, July 28th. ValuEngine cut shares of Fortinet from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Dougherty & Co lifted their target price on shares of Fortinet from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. UBS AG lifted their target price on shares of Fortinet from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Robert W. Baird set a $50.00 target price on shares of Fortinet and gave the stock a “buy” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $44.00.
Shares of Fortinet (NASDAQ:FTNT) opened at $39.01 on Monday. Fortinet has a one year low of $28.50 and a one year high of $41.56. The stock has a market cap of $6,783.85, a price-to-earnings ratio of 70.93, a P/E/G ratio of 4.81 and a beta of 0.91.
Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Thursday, October 26th. The software maker reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Fortinet had a net margin of 5.93% and a return on equity of 10.92%. The firm had revenue of $374.20 million for the quarter, compared to analysts’ expectations of $370.67 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. research analysts anticipate that Fortinet will post 0.48 earnings per share for the current year.
Fortinet announced that its board has initiated a share repurchase plan on Wednesday, July 26th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the software maker to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Fortinet news, insider Keith Jensen sold 1,850 shares of Fortinet stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $36.47, for a total transaction of $67,469.50. Following the sale, the insider now owns 1,315 shares of the company’s stock, valued at approximately $47,958.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael Xie sold 3,585 shares of Fortinet stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $38.60, for a total transaction of $138,381.00. Following the sale, the vice president now directly owns 6,714,500 shares in the company, valued at approximately $259,179,700. The disclosure for this sale can be found here. Insiders sold a total of 7,052 shares of company stock worth $265,386 in the last three months. 17.00% of the stock is owned by corporate insiders.
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Fortinet Company Profile
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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