Fortinet (FTNT) Receives Daily News Impact Score of 0.28

Press coverage about Fortinet (NASDAQ:FTNT) has trended positive this week, according to Accern Sentiment. The research firm identifies positive and negative news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fortinet earned a daily sentiment score of 0.28 on Accern’s scale. Accern also gave news stories about the software maker an impact score of 45.1420355370926 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:

FTNT has been the topic of several research reports. Zacks Investment Research upgraded shares of Fortinet from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Friday, July 7th. OTR Global upgraded shares of Fortinet to a “positive” rating in a report on Wednesday, July 5th. Piper Jaffray Companies set a $50.00 price objective on shares of Fortinet and gave the company a “buy” rating in a report on Friday, August 25th. Credit Suisse Group initiated coverage on shares of Fortinet in a report on Tuesday, September 5th. They set an “underperform” rating and a $33.00 price objective on the stock. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $45.00 price objective on shares of Fortinet in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Fortinet currently has an average rating of “Buy” and a consensus price target of $42.48.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, July 26th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.07. Fortinet had a net margin of 4.71% and a return on equity of 9.36%. The business had revenue of $363.50 million during the quarter, compared to analysts’ expectations of $361.05 million. During the same period in the previous year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year.

Fortinet announced that its Board of Directors has approved a share repurchase program on Wednesday, July 26th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

In other news, CAO Keith Jensen sold 950 shares of Fortinet stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $36.67, for a total value of $34,836.50. Following the completion of the sale, the chief accounting officer now directly owns 1,315 shares in the company, valued at $48,221.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 4,000 shares of Fortinet stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $36.39, for a total transaction of $145,560.00. Following the completion of the sale, the director now owns 66,611 shares of the company’s stock, valued at $2,423,974.29. The disclosure for this sale can be found here. Insiders sold 9,558 shares of company stock valued at $348,406 over the last quarter. Company insiders own 16.40% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Stock Observer and is the property of of Stock Observer. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at

Fortinet Company Profile

Fortinet, Inc is a network security company. The Company provides cyber security solutions to a range of enterprises, service providers and government organizations across the world. Its network security solution consists of FortiGate physical, virtual machine and cloud platforms, which provide integrated security and networking functions to protect data, applications and users from network-and content-level security threats.

Insider Buying and Selling by Quarter for Fortinet (NASDAQ:FTNT)

Receive News & Ratings for Fortinet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortinet Inc. and related companies with's FREE daily email newsletter.

Leave a Reply