Fortinet (FTNT, Financial) experienced a significant stock movement with a sharp increase of 5%. The current trading price is $96.64 per share, with a trading volume of 4.565 million shares and a turnover rate of 0.60%. The stock's price volatility stands at 4.72%.
Recent financial results revealed Fortinet achieved a revenue of $1.508 billion and a net profit of $540 million, translating to earnings per share (EPS) of $0.71. The company's gross profit reached $1.245 billion, resulting in a price-to-earnings (P/E) ratio of 48.56.
Analyst ratings show mixed sentiments: out of 42 analysts, 38% recommend buying, 60% suggest holding, and 2% advise selling. In the software services industry, where Fortinet operates, the overall sector saw an increase of 0.67%.
Fortinet is a California-based network security provider, specializing in cybersecurity, cloud security, zero trust access, and security operations. A significant portion of its revenue comes from subscription and support-based sales, serving over 700,000 customers worldwide.
