Fortinet, Inc. (NASDAQ:FTNT) is reporting third quarter financial results on Thursday 29th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, FTNT is expected to report 3Q20 income of $ 0.78 per share from revenue of $ 639.12 million.
For the full year, analysts anticipate top line of $ 2539.22 million, while looking forward to income of $ 3.06 per share bottom line.
The Company Outlook
Earnings for 3Q20 are anticipated in a range of $ 0.76 ~ $ 0.78 per share, while revenues are expected in a range of $ 630.00 million ~ $ 645.00 million
Full Year 2020 topline are forecasted in a range of$ 2,525.00 million ~ $ 2,555.00 million, where as bottomline are predicted in a range of $ 2.70 ~ $ 2.73 per share
Click Here For More Historical Outlooks Of Fortinet, Inc.
Previous Quarter Performance
Fortinet, Inc. reported income for the second quarter of $ 0.82 per share, from the revenue of $ 615.50 million. The quarterly earnings developed 41.38 percent while revenues expanded 17.98 percent compared with the same quarter last year.
Street analysts expected Fortinet, Inc. to report income of $ 0.65 per share on revenue of $ 599.04 million for the second quarter. The bottom line results beat street analysts by $ 0.17 or 26.15 percent, at the same time, top line results outshined analysts by $ 16.46 million or 2.75 percent.
Stock Performance
Shares of Fortinet, Inc. traded low $ -5.28 or -4.25 percent on Wednesday, reaching $ 118.95 with volume of 1.37 million shares. Fortinet, Inc. has traded high as $ 123.16 and has cracked $ 118.83 on the downward trend
According to the previous trading day, closing price of $ 118.95, representing a 76.97 % increase from the 52 week low of $ 70.20 and a 18.24 % decrease over the 52 week high of $ 151.95.
The company has a market capital of $ 19.25 billion and is part of the Technology sector and Software – Application industry.
Conference Call
Fortinet, Inc. will be hosting a conference call at 4:30 PM eastern time on 29th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.fortinet.com
Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions worldwide. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and wide area network acceleration; FortiSandbox technology that delivers proactive detection and mitigation services; and FortiSIEM family of software solutions, which offers a cloud-ready security information and event management solutions.
