Fortinet (FTNT) Stock: Why The Price Increased Over 3%

By Amit Chowdhry ● May 5, 2022
  • The stock price of Fortinet Inc (NASDAQ: FTNT) increased by over 3% pre-market today. This is why.

The stock price of Fortinet Inc (NASDAQ: FTNT) increased by over 3% pre-market today. Investors are responding positively to the company’s first-quarter results.

Fortinet reported a Q1 EPS of $0.94, which was $0.15 better than analyst estimates of $0.79. And the revenue for the quarter came in at $954.8 million compared to a consensus estimate of $884.76 million.

In terms of guidance, Fortinet is expecting a Q2 2022 EPS of between $1.05 and $1.10, compared to a consensus of $1.13. And Fortinet expects Q2 2022 revenue of between $1 billion and $1.04 billion, compared to a consensus of $1.01 billion.

Plus Fortinet is expecting an FY 2022 EPS of between $5.00 and $5.15, compared to a consensus of $4.96. And Fortinet expects a FY 2022 revenue of between $4.35 and $4.4 billion, compared to a consensus of $4.3 billion.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.