Fortinet (FTNT) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 23.33%. A quarter ago, it was expected that this network security company would post earnings of $0.51 per share when it actually produced earnings of $0.63, delivering a surprise of 23.53%.Over the last four quarters, th ...

Fortinet delivered robust revenue and earnings growth in its fourth quarter, surpassing analyst expectations.Cybersecurity solutions provider Fortinet (FTNT -0.33%) reported fourth-quarter and full-year 2024 earnings on Thursday, Feb. 6, that showed significant growth across key financial metrics. The company delivered adjusted earnings per share (EPS) of $0.74, surpassing analyst expectations and marking a 45% year-over-year increase. Revenue for the quarter reached $1.66 billion, up 17.3% from the previou ...

Financial Performance - Total revenue for Q4 2024 was $1.66 billion, an increase of 17% year-over-year[6] - Product revenue for Q4 2024 was $574 million, up 18% year-over-year[6] - Billings for Q4 2024 reached $2.00 billion, a 7% increase year-over-year[6] - Total revenue for the year ended December 31, 2024, was $5,955.8 million, a 12.3% increase from $5,304.8 million in 2023[29] - Net income for the year ended December 31, 2024, reached $1,745.2 million, up 52.2% from $1,147.8 million in 2023[29] - Operating income for the year ended December 31, 2024, was $1,803.4 million, representing a 45.3% increase compared to $1,241.1 million in 2023[29] - Non-GAAP net income for the year ended December 31, 2024, was $1,832.9 million, a 42.7% increase from $1,285.6 million in 2023[33] - Total revenue for Q4 2024 reached $1,660.1 million, a 17.3% increase from $1,415.1 million in Q4 2023[37] Cash Flow and Liquidity - Cash flow from operations for 2024 was $2.26 billion, compared to $1.94 billion in 2023[10] - Net cash provided by operating activities for Q4 2024 was $477.6 million, up from $191.7 million in Q4 2023, representing a 149% increase[36] - Free cash flow for the year ended December 31, 2024, was $1,879.2 million, compared to $1,731.4 million for the previous year, reflecting an increase of 8.5%[36] - Total cash and cash equivalents at the end of the year were $2,875.9 million, up from $1,397.9 million at the beginning of the year[32] Assets and Equity - Total assets increased to $9,763.1 million in December 2024, up from $7,258.9 million in December 2023, representing a growth of approximately 34.5%[27] - Cash and cash equivalents rose significantly to $2,875.9 million, compared to $1,397.9 million in the previous year, marking an increase of about 105.5%[27] - The company reported a total stockholders' equity of $1,493.8 million, a significant recovery from an accumulated deficit of $(463.4) million in the previous year[27] Deferred Revenue and Billings - Deferred revenue increased to $3,276.2 million, up from $2,848.7 million, reflecting a growth of approximately 15%[27] - The company emphasizes the importance of billings as a metric for future revenue health, with billings defined as revenue recognized plus changes in deferred revenue[22] - Total billings for the year ended December 31, 2024, were $6,532.5 million, compared to $6,399.5 million in 2023, indicating a growth of 2.1%[37] Profitability Metrics - GAAP net income for Q4 2024 was $526.2 million, compared to $310.9 million in Q4 2023[9] - Non-GAAP net income for Q4 2024 was $571.5 million, up from $392.0 million in Q4 2023[9] - The company reported a GAAP operating margin of 30.3% for the year ended December 31, 2024, up from 23.4% in 2023[33] - The company reported a non-GAAP operating margin of 35.0% for the year ended December 31, 2024, compared to 28.4% in 2023[33] Research and Development - Research and development expenses for the year ended December 31, 2024, were $716.8 million, an increase from $613.8 million in 2023[29] Future Projections - For Q1 2025, revenue is expected to be in the range of $1.500 billion to $1.560 billion[10] - For the fiscal year 2025, revenue is projected to be between $6.650 billion and $6.850 billion[15] Inventory Management - Inventory decreased to $315.5 million from $484.8 million, indicating improved inventory management[27] Geopolitical Risks - The ongoing geopolitical tensions, including the war in Ukraine, continue to pose risks to market demand and operational stability[19]

Fourth Quarter 2024 Highlights Total revenue of $1.66 billion, up 17% year over yearProduct revenue of $574 million, up 18% year over yearBillings of $2.00 billion, up 7% year over year1Record GAAP operating margin of 35% Record Non-GAAP operating margin of 39%1Unified SASE ARR2 up 28% and Security Operations ARR2 up 32%, year over yearRanked #7 on the Forbes Most Trusted Companies in America 2025 list, the only cybersecurity company in the top 50 Full Year 2024 Highlights Total revenue of $5.96 billion, up ...

Fortinet Inc FTNT will be reporting its fourth-quarter earnings on Thursday. Wall Street expects 61 cents in EPS and $1.59 billion in revenues as the company reports after market hours.The stock is up 54.65% over the past year, 10.14% YTD.Let’s look at what the charts indicate for Fortinet stock and how the stock currently maps against Wall Street estimates.Read Also: $100 Invested In Fortinet 15 Years Ago Would Be Worth This Much TodayFortinet Stock Strongly Bullish Ahead Of Q4 EarningsFortinet stock is di ...

News Summary SUNNYVALE, Calif., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the FortiGate 70G, FortiGate 50G, and FortiGate 30G, the latest G series next-generation firewalls (NGFWs) designed to meet the evolving technology and business demands of today's distributed enterprises. Powered by Fortinet's proprietary ASIC technology and the unified Fortinet operating system, FortiOS, the FortiGate ...

Have you been paying attention to shares of Fortinet (FTNT) ? Shares have been on the move with the stock up 6.5% over the past month. The stock hit a new 52-week high of $102.17 in the previous session. Fortinet has gained 6.8% since the start of the year compared to the 33.9% move for the Zacks Computer and Technology sector and the 49.6% return for the Zacks Internet - Software industry.What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it hasn't misse ...

Core Insights - Fortinet Inc (NASDAQ:FTNT) reached a record high of $102.17, surpassing the $100 resistance level, with potential for further gains as it historically performs well in February [1] - The stock has historically finished February higher nine out of the last ten years, averaging a 9% gain, which could push shares above $111, contributing to a 55% year-over-year increase [2] - There is a prevailing pessimism among analysts, with 23 out of 37 maintaining a "hold" or worse rating, while the 12-month consensus price target is $98.84, slightly below current levels [3] Options Activity - The popularity of put options has increased, with a 10-day put/call volume ratio of 1.79, ranking higher than 91% of readings from the past year [4] Earnings Outlook - The company is expected to experience volatility around its earnings report scheduled for February 6, but its recent post-earnings performance has been positive, with the stock closing higher after three quarterly reports last year, including a notable 25.4% increase in August [5]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2]. Company Overview: Fortinet (FTNT) - Fortinet currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating a favorable outlook for the stock [3][4]. - The stock has shown a price increase of 2.83% over the past week, outperforming the Zacks Internet - Software industry, which rose by 1.86% during the same period [6]. - Over the past quarter, Fortinet shares have increased by 22.74%, and over the last year, they have gained 45.63%, significantly outperforming the S&P 500's increases of 3.88% and 24.54%, respectively [7]. Trading Volume - Fortinet's average 20-day trading volume is 3,401,035 shares, which serves as a bullish indicator when combined with rising stock prices [8]. Earnings Outlook - In the last two months, three earnings estimates for Fortinet have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from $2.20 to $2.24 [10]. - For the next fiscal year, six estimates have moved upwards with no downward revisions, indicating positive sentiment regarding future earnings [10]. Conclusion - Considering the positive momentum indicators and earnings outlook, Fortinet is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for near-term investment [12].

Core Insights - Zacks Premium offers various tools to help investors make informed decisions and invest confidently in the stock market [1][2] Zacks Style Scores - Zacks Style Scores are indicators that rate stocks based on value, growth, and momentum methodologies, aiding investors in selecting stocks likely to outperform the market in the next 30 days [2][3] - Stocks are rated from A to F, with A indicating the highest potential for outperformance [3] Value Score - The Value Score identifies attractive and discounted stocks using ratios like P/E, PEG, Price/Sales, and Price/Cash Flow [3] Growth Score - The Growth Score focuses on a company's financial strength and future outlook, analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - The Momentum Score helps investors capitalize on price trends, using factors like one-week price change and monthly earnings estimate changes [5] VGM Score - The VGM Score combines all three Style Scores, providing a comprehensive indicator for evaluating stocks based on value, growth, and momentum [6] Zacks Rank - The Zacks Rank is a proprietary stock-rating model that utilizes earnings estimate revisions to simplify portfolio building [7] - Stocks rated 1 (Strong Buy) have historically produced an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8] Stock Selection Strategy - Investors should prioritize stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal success [9] - Stocks with lower ranks but high Style Scores may still face downward earnings forecasts, increasing the risk of price declines [10] Company Spotlight: Fortinet (FTNT) - Fortinet, headquartered in Sunnyvale, CA, specializes in network security solutions and holds a Zacks Rank of 2 (Buy) with a VGM Score of B [11] - The company has a Momentum Style Score of B, with shares increasing by 1.7% over the past four weeks [11] - Recent analyst revisions have raised Fortinet's earnings estimate for fiscal 2024 by $0.04 to $2.24 per share, with an average earnings surprise of 23.6% [12]