Fortinet (FTNT) Receives Daily News Impact Score of 0.21
Media headlines about Fortinet (NASDAQ:FTNT) have trended somewhat positive recently, Accern Sentiment Analysis reports. The research group rates the sentiment of media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Fortinet earned a news impact score of 0.21 on Accern’s scale. Accern also gave news headlines about the software maker an impact score of 47.1533041984101 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the headlines that may have effected Accern Sentiment Analysis’s scoring:
- 5 Top-Ranked Stocks to Profit from Likely Earnings Beat (finance.yahoo.com)
- Fortinet Redefines Expectations for Next-Generation Firewalls in the Enterprise (finance.yahoo.com)
- Contrasting InterXion Holding N.V. (INXN) & Fortinet (FTNT) (americanbankingnews.com)
- Fortinet Recognized as Ingram Micro Security Vendor of the Year (finance.yahoo.com)
- Fortinet to Present at UBS Global Technology Conference – GlobeNewswire (press release) (globenewswire.com)
A number of analysts have recently weighed in on FTNT shares. Evercore ISI set a $38.00 price objective on shares of Fortinet and gave the stock a “hold” rating in a research note on Thursday, July 27th. Robert W. Baird set a $50.00 price objective on shares of Fortinet and gave the stock a “buy” rating in a research note on Thursday, July 27th. Dougherty & Co boosted their price objective 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. ValuEngine cut shares of Fortinet from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Cowen and Company restated a “buy” rating and issued a $43.00 price objective on shares of Fortinet in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.00.
Fortinet (FTNT) traded up $0.28 on Monday, hitting $40.22. 1,071,189 shares of the stock traded hands, compared to its average volume of 1,721,397. Fortinet has a fifty-two week low of $28.50 and a fifty-two week high of $41.56. The company has a market cap of $6,990.00, a price-to-earnings ratio of 72.62, a price-to-earnings-growth ratio of 4.92 and a beta of 0.91.
Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, October 26th. The software maker reported $0.28 EPS for the quarter, topping 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 analyst estimates of $370.67 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue was up 18.2% on a year-over-year basis. analysts predict that Fortinet will post 0.48 EPS for the current fiscal year.
Fortinet announced that its Board of Directors has approved a share repurchase program on Wednesday, July 26th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Fortinet news, insider Keith Jensen sold 1,850 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $39.20, for a total transaction of $72,520.00. Following the sale, the insider now owns 1,374 shares of the company’s stock, valued at approximately $53,860.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John Whittle sold 3,883 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $40.00, for a total transaction of $155,320.00. Following the transaction, the vice president now owns 4,681 shares in the company, valued at $187,240. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,985 shares of company stock worth $390,920. Insiders own 17.00% of the company’s stock.
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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