Fortinet Inc (FTNT) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $0.14 EPS for the quarter. Analysts had a consensus estimate of $0.14. The company posted revenue of $311.40 million in the period, compared to analysts expectations of $304.53 million. The company’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.
Fortinet Inc opened for trading at $36.75 and hit $37.305 on the upside on Thursday, eventually ending the session at $37.17, with a gain of 1.42% or 0.52 points. The heightened volatility saw the trading volume jump to 24,23,232 shares. Company has a market cap of $6,381 M.
In a different news, on Jun 3, 2016, Matto Andrew H Del (Chief Financial Officer) sold 2,750 shares at $34.23 per share price. According to the SEC, on May 10, 2016, Keith Jensen (Chief Accounting Officer) sold 1,100 shares at $31.60 per share price. On May 3, 2016, Michael Xie (VP, Engineering & CTO) sold 14,123 shares at $32.50 per share price, according to the Form-4 filing with the securities and exchange commission.
Fortinet Inc. provides cyber security solutions to enterprise service providers and government organizations across the world. The Companys network security solution consists of FortiGate physical and virtual appliance products that provide an array of integrated security and networking functions to protect data applications and users from network-and content-level security threats. The Companys FortiGate appliances may be deployed as Next Generation Firewalls (NGFW) Data Center Firewalls (DCFW) Unified Threat Management (UTM) systems Internal Network Firewall (INFW) Virtual Machine Firewalls or Cloud Firewalls. The FortiGate appliances range from the FortiGate-20 series for small businesses and branch offices to the FortiGate-5000 series for enterprises and service providers and are based on its technology platform. Its security services are based on intelligence gathered by its FortiGuard Labs team.