In today’s session Fortinet Inc (FTNT) registered an unusually high (834) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious FTNT increase. With 834 contracts traded and 1054 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: FTNT161118C00035000 closed last at: $1.95 or 7.1% down. About 990,942 shares traded hands. Fortinet Inc (NASDAQ:FTNT) has risen 11.49% since March 10, 2016 and is uptrending. It has outperformed by 3.97% the S&P500.
Analysts await Fortinet Inc (NASDAQ:FTNT) to report earnings on October, 27. They expect $0.05 earnings per share, up 25.00% or $0.01 from last year’s $0.04 per share. FTNT’s profit will be $7.77 million for 150.95 P/E if the $0.05 EPS becomes a reality. After $0.03 actual earnings per share reported by Fortinet Inc for the previous quarter, Wall Street now forecasts 66.67% EPS growth.
Fortinet Inc (NASDAQ:FTNT) Ratings Coverage
Out of 26 analysts covering Fortinet Inc. (NASDAQ:FTNT), 17 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 65% are positive. Fortinet Inc. has been the topic of 54 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Barclays Capital maintained Fortinet Inc (NASDAQ:FTNT) on Wednesday, October 12 with “Overweight” rating. On Wednesday, October 12 the stock rating was maintained by Nomura with “Buy”. The stock of Fortinet Inc (NASDAQ:FTNT) earned “Hold” rating by Topeka Capital Markets on Friday, January 29. The firm earned “Outperform” rating on Thursday, March 31 by Cowen & Co. Oppenheimer maintained it with “Outperform” rating and $40 target price in Wednesday, October 12 report. The firm has “Buy” rating given on Thursday, July 23 by Wunderlich. UBS maintained the stock with “Buy” rating in Friday, October 23 report. The firm earned “Hold” rating on Wednesday, April 27 by Stifel Nicolaus. On Monday, December 14 the stock rating was upgraded by Cowen & Co to “Market Perform”. The stock has “Hold” rating given by Topeka Capital Markets on Monday, October 26.
According to Zacks Investment Research, “Fortinet, Inc., headquartered in Sunnyvale, California, is a provider of network security appliances and Unified Threat Management network security solutions to enterprises, service providers and government entities worldwide. Its solutions are designed to integrate multiple levels of security protection, including firewall, virtual private networking, antivirus, intrusion prevention, Web filtering, antispam and wide area network acceleration. Through its products and subscription services, the company provides integrated protection against dynamic security threats while simplifying the IT security infrastructure. Its solution incorporates the application-specific integrated circuits, hardware architecture, operating system, and set of associated security and networking functions to defend against multiple categories of IT security attacks without impacting network performance. Its flagship UTM solution consists of FortiGate appliance product line and FortiGuard security subscription services.”
Fortinet, Inc. provides cyber security solutions to enterprises, service providers and government organizations across the world. The company has a market cap of $4.69 billion. The Company’s flagship 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. It has a 855.39 P/E ratio. The Company’s product offerings consist of its FortiGate product family, along with its FortiManager central management and FortiAnalyzer central logging and reporting product families.
FTNT Company Profile
Fortinet, Inc., incorporated on November 28, 2000, provides cyber security solutions to enterprises, service providers and government organizations across the world. The Company’s flagship 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. The Company’s product offerings consist of its FortiGate product family, along with its FortiManager central management and FortiAnalyzer central logging and reporting product families.
More notable recent Fortinet Inc (NASDAQ:FTNT) news were published by: Investorplace.com which released: “Why Humana Inc (HUM), Fortinet Inc (FTNT) and Telefonaktiebolaget LM Ericsson …” on October 12, 2016, also Seekingalpha.com with their article: “Fortinet: A Miss Is Still A Miss” published on October 12, 2016, Schaeffersresearch.com published: “Analyst Downgrades: Fortinet Inc, Valeant Pharmaceuticals Intl Inc, and Xilinx …” on October 12, 2016. More interesting news about Fortinet Inc (NASDAQ:FTNT) were released by: Rttnews.com and their article: “Fortinet Inc. (FTNT) Is Falling After Q3 Guidance Lowered” published on October 11, 2016 as well as Zacks.com‘s news article titled: “Cybersecurity Stocks amp; ETFs Fall on Fortinet’s View Cut” with publication date: October 13, 2016.
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