Wall street estimates Earnings report Fortinet (NASDAQ:FTNT)

Earnings results for Fortinet (NASDAQ:FTNT)

Fortinet, Inc. is expected* to report earnings on 04/29/2021 after market close. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 9 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.48. The reported EPS for the same quarter last year was $0.39.

Fortinet last issued its quarterly earnings results on February 4th, 2021. The software maker reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.35. The firm earned $748 million during the quarter, compared to the consensus estimate of $722.37 million. Fortinet has generated $1.91 earnings per share over the last year and currently has a price-to-earnings ratio of 73.6. Fortinet has confirmed that its next quarterly earnings report will be published on Thursday, April 29th, 2021. Fortinet will be holding an earnings conference call on Thursday, April 29th. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Fortinet (NASDAQ:FTNT)

25 Wall Street analysts have issued ratings and price targets for Fortinet in the last 12 months. Their average twelve-month price target is $168.43, predicting that the stock has a possible downside of 14.94%. The high price target for FTNT is $240.00 and the low price target for FTNT is $104.00. There are currently 3 sell ratings, 10 hold ratings and 12 buy ratings for the stock, resulting in a consensus rating of “Hold.”

Fortinet has received a consensus rating of Hold. The company’s average rating score is 2.36, and is based on 12 buy ratings, 10 hold ratings, and 3 sell ratings. According to analysts’ consensus price target of $168.43, Fortinet has a forecasted downside of 14.9% from its current price of $198.01. Fortinet has been the subject of 14 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Fortinet (NASDAQ:FTNT)

Fortinet does not currently pay a dividend. Fortinet does not have a long track record of dividend growth.

Insiders buying/selling: Fortinet (NASDAQ:FTNT)

In the past three months, Fortinet insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $11,979,732.00 in company stock. Only 17.20% of the stock of Fortinet is held by insiders. 67.77% of the stock of Fortinet is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Fortinet (NASDAQ:FTNT

Earnings for Fortinet are expected to grow by 9.87% in the coming year, from $2.33 to $2.56 per share. The P/E ratio of Fortinet is 73.61, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 23.88. The P/E ratio of Fortinet is 73.61, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 70.05. Fortinet has a PEG Ratio of 4.04. PEG Ratios above 1 indicate that a company could be overvalued. Fortinet has a P/B Ratio of 25.62. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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