Fortinet Inc. (FTNT) reported strong fourth-quarter 2023 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Moreover, both the top and bottom lines registered a steady year-over-year improvement.Fortinet reported fourth-quarter 2023 non-GAAP earnings per share (EPS) of 51 cents, which topped the Zacks Consensus Estimate by 18.6%. The bottom line improved 15.9% from the year-ago quarter’s earnings of 24 cents per share.Total revenues of $1.415 billion beat the consensus mark ...

Key TakeawaysFortinet shares jumped after the company topped analysts' fourth-quarter earnings and billings expectations amid strong demand for cybersecurity solutions.The company said it closed six deals in the fourth quarter that were each valued at over $10 million.The Fortinet share price may encounter resistance around $80.50 from the July swing high, which is also the stock's all-time high. Fortinet, Inc. Source: TradingView.com.Cybersecurity solutions company Fortinet, Inc. (FTNT) reported quarter ...

Fortinet (FTNT) reported $1.42 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 10.3%. EPS of $0.51 for the same period compares to $0.44 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.41 billion, representing a surprise of +0.33%. The company delivered an EPS surprise of +18.60%, with the consensus EPS estimate being $0.43.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and h ...

After whiffing big with its previous two earnings reports, Fortinet Inc. delivered upbeat profit and billings numbers for the latest quarter Tuesday, helping to send its stock rocketing. The cybersecurity company generated fourth-quarter net income of $310.9 million, or 40 cents a share, which was nearly flat from the $313.8 million, or 40 cents a share, that Fortinet FTNT, +2.10% logged a year before. On an adjusted basis, the company earned 51 cents a share, while analysts tracked by FactSet were model ...

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SUNNYVALE, Calif., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced a new compact, ruggedized appliance explicitly built to deliver enhanced secure networking capabilities and 5G connectivity to operational technology (OT) environments. Backed by the latest, fifth-generation Fortinet Security Processing Unit (SP5), the FortiGate Rugged 70G with 5G Dual Modem provides unparalleled networking performa ...

In the latest trading session, Fortinet (FTNT) closed at $66.44, marking a -0.02% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.07%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw an increase of 1.74%.The the stock of network security company has risen by 13.8% in the past month, leading the Computer and Technology sector's gain of 4.83% and the S&P 500's gain of 2.93%.Analysts and investors alike will be keeping a close e ...

Analysts on Wall Street project that Fortinet (FTNT) will announce quarterly earnings of $0.43 per share in its forthcoming report, representing a decline of 2.3% year over year. Revenues are projected to reach $1.41 billion, increasing 9.9% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 2.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ah ...

Fortinet (FTNT) is scheduled to report fourth-quarter 2023 results on Feb 6, after market close.The cybersecurity firm projects revenues between $1.38 billion and $1.44 billion. The Zacks Consensus Estimate for the same is pegged at $1.41 billion, suggesting year-over-year growth of 9.93%.The company forecasts fourth-quarter non-GAAP earnings in the range of 42-44 cents per share. The consensus mark is pegged at 43 cents per share, implying a decline of 2.27% from the year-ago figure of 24 cents.Fortinet’s ...

Over the last 10 years, FTNT has finished with nine monthly gains in FebruaryFortinet Inc (NASDAQ:FTNT) has had a strong start to the year, up 10.4% in January, even with today's negative price action. Though the reason for the dip is unclear, FTNT was last seen down 3.2% at $64.56. Recently, the stock has been gaining traction with traders and has been one of the most popular stocks on Zacks.com. The activity will likely continue to ramp up, too, as the cybersecurity name reports fourth-quarter earnings af ...