Fortinet (FTNT) has been drawing considerable attention, both positive and negative, from various quarters in recent times. The cybersecurity company has met quarterly expectations and has had its price target revised multiple times by several Securities firms including
Barclays, UBS, and Rosenblatt. Bolstering its profile, Fortinet's
Q3 2024 earnings hit an EPS of
$0.70, surpassing estimates and marking a revenue peak of
$1.51 billion. Accompanying the sales high, shares also enjoyed an
8.38% increase on Nov 8. FTNT's consistent performance attracted new investments including those from Executive Wealth Management LLC and CWA Asset Management Group LLC. Despite this, Fortinet experienced down swings like its shares dropping post the Q3 revenue forecast. The decrease was also partly due to concerns surfacing over future revenue. Nonetheless, analysts remain optimistic about FTNT's potential, even expecting FTNT's Q4 uptick in 2025. Q3 also witnessed more
institutional investors favoring FTNT, and the company continues to be a trending stock. The company appointed two new additions to its team aimed at simplifying security operations and launched FortiDLP, a data protection solution.
Fortinet FTNT News Analytics from Mon, 03 Jun 2024 07:00:00 GMT to Sun, 10 Nov 2024 00:04:33 GMT -
Rating 6
- Innovation 8
- Information 7
- Rumor -4
