Fortinet Inc Unusual Bullish Options Activity Means Profits for Traders

 Fortinet Inc Unusual Bullish Options Activity Means Profits for Traders

In today’s session Fortinet Inc (FTNT) registered an unusually high (778) 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 778 contracts traded and 7614 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: FTNT161118C00034000 closed last at: $0.8 or 6.7% up. About 1.78 million shares traded hands. Fortinet Inc (NASDAQ:FTNT) has risen 10.71% since March 14, 2016 and is uptrending. It has outperformed by 5.10% 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 $8.59 million for 154.80 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. The firm has “Outperform” rating by FBR Capital given on Thursday, July 23. The rating was maintained by Topeka Capital Markets on Thursday, July 23 with “Hold”. The company was maintained on Friday, October 23 by RBC Capital Markets. The stock of Fortinet Inc (NASDAQ:FTNT) has “Neutral” rating given on Wednesday, October 12 by Citigroup. The firm has “Buy” rating given on Wednesday, April 27 by Wunderlich. The stock of Fortinet Inc (NASDAQ:FTNT) earned “Market Perform” rating by Cowen & Co on Monday, December 14. The company was maintained on Thursday, July 23 by Wunderlich. Topeka Capital Markets maintained Fortinet Inc (NASDAQ:FTNT) on Friday, January 29 with “Hold” rating. Needham downgraded the stock to “Buy” rating in Friday, January 29 report. On Tuesday, August 30 the stock rating was upgraded by Pacific Crest to “Overweight”.

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 $5.32 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 877.3 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 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 published the news titled: “Fortinet: A Miss Is Still A Miss” on October 12, 2016. Schaeffersresearch.com‘s news article titled: “Analyst Downgrades: Fortinet Inc, Valeant Pharmaceuticals Intl Inc, and Xilinx …” with publication date: October 12, 2016 was also an interesting one.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment