Key TakeawaysCybersecurity firm Fortinet topped quarterly sales and profits, boosted by record operating margins, and its shares skyrocketed.Fortinet maintains a strong position in the Secure Access Service Edge (SASE) market.Jefferies analysts increased their price target on Fortinet stock, citing its margin expansion. Fortinet (FTNT) shares took off Wednesday after the cybersecurity firm released a strong set of financial results, posting its highest-ever quarterly operating margin while topping sales and ...

Fortinet (NASDAQ:FTNT) stock is up a staggering 25% today after reporting strong second-quarter earnings results. Indeed, the cybersecurity stock led Wall Street in the morning as the top gainer.Fortinet managed to hardily beat both earnings and revenue estimates in its fiscal second quarter. The company reported earnings of 57 cents per share on revenue of $1.43 billion, compared to estimated earnings of 41 cents on $1.40 billion.This has, predictably, earned the admiration of many a Wall Street analyst, i ...

See how Fortinet outperformed expectations in Q2 2024 and what it means for investors.Shares of Fortinet (FTNT 25.75%) jumped as much as 24.8% higher on Wendesday morning, boosted by a strong earnings report. By 10:30 a.m., the cybersecurity veteran's stock had backed down slightly to a 22.4% gain.Fortinet's second quarter by the numbersFortinet's second-quarter revenue rose 11% year over year, landing at $1.43 billion. Product sales decreased by 4.4% while service revenues jumped 19.8% higher.On the bottom ...

JHVEPhoto/iStock Editorial via Getty Images Investment Thesis Fortinet, Inc. (NASDAQ:FTNT) delivered strong Q2 2024 results that gave investors precisely what they craved, namely, better revenue growth rates, with substantially better profitability. Investors cheered, sending this stock to jump more than 15% premarket. Furthermore, I have revised my neutral rating on this stock to a buy, as I believe that paying around 20x next year's non-GAAP operating profits, together with its very strong balance sheet, ...

Fortinet Inc. (FTNT) reported strong second-quarter 2024 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year.Fortinet reported second-quarter 2024 non-GAAP earnings per share (EPS) of 57 cents, which beat the Zacks Consensus Estimate by 39.02%. The bottom line climbed 50% from the year-ago quarter’s earnings of 38 cents per share.Total revenues of $1.43 billion beat the consensus mark by 2.31% and improved 10.9% year over year, driven by strong grow ...

Key TakeawaysFortinet shares surged in premarket trading on Wednesday after the cybersecurity solutions provider raised its full-year revenue outlook, as enterprise customers increase spending to protect their data and applications from cyberattacks.The company's better-than-expected earnings report looks set create a bullish stock gap on the chart that could lead to a longer-term upside reversal.Amid a post-earnings rally, Fortinet shares could test important chart levels including $62.50, $69, and $73.50. ...

Security threats are on the rise. These companies are tackling them head-on. The recent CrowdStrike failure -- in which millions of computers were rendered temporarily useless -- is causing some investors to reflect on cybersecurity stocks. But while CrowdStrike's software error may worry investors who are considering entering the industry, I think there's another takeaway from the disaster: Every company is dependent on cybersecurity. There's been a 75% increase in cloud-computing intrusions over the past ...

Fortinet, Inc. (NASDAQ:FTNT) Q2 2024 Earnings Conference Call August 6, 2024 4:30 PM ET Company Participants Aaron Ovadia - Director of Investor Relations Ken Xie - Founder, Chairman & Chief Executive Officer Keith Jensen - Chief Financial Officer John Whittle - Chief Operating Officer Conference Call Participants Brian Essex - JPMorgan Hamza Fodderwala - Morgan Stanley Fatima Boolani - Citi Gabriela Borges - Goldman Sachs Tal Liani - Bank of America Rob Owens - Piper Sandler Shaul Eyal - TD Cowen Brad Zeln ...

For the quarter ended June 2024, Fortinet (FTNT) reported revenue of $1.43 billion, up 11% over the same period last year. EPS came in at $0.57, compared to $0.38 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.4 billion, representing a surprise of +2.31%. The company delivered an EPS surprise of +39.02%, with the consensus EPS estimate being $0.41.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they comp ...

Fortinet (FTNT) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 39.02%. A quarter ago, it was expected that this network security company would post earnings of $0.38 per share when it actually produced earnings of $0.43, delivering a surprise of 13.16%.Over the last four quarters, th ...