Fortinet Exceeds Q4 EPS Forecasts
Cybersecurity solutions provider (NASDAQ:FTNT) 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 previous year and also topping forecasts.
Fortinet's strong operational performance was further evidenced by an adjusted operating margin of 39.2%, which was well above management's guidance range for the quarter. Overall, the quarter was marked by substantial revenue growth and improved profitability.
Source: Fortinet. Analyst consensus estimates for the quarter provided by FactSet. YOY = Year over year. pps = Percentage points.
Source Fool.com
Fortinet Inc. Stock
Currently there is a rather positive sentiment for Fortinet Inc. with 18 Buy predictions and 6 Sell predictions.
With a target price of 106 € there is a hugely positive potential of 55.7% for Fortinet Inc. compared to the current price of 68.08 €.
