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Fortinet, Inc. (FTNT) provides cybersecurity and networking solutions worldwide. 
It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration.
The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides centralized network logging, analyzing and reporting solutions.
It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiAuthenticator, a zero trust access solution.
Shares are heading higher in an upward trading channel. The lower boundary of the channel coincides with the stock's 50-day moving average. Higher share prices are expected. On May 4th, FTNT reported 1st Quarter March 2023 earnings of $0.36 per share on revenue of $1.3 billion. The consensus earnings estimate was $0.29 per share on revenue of $1.2 billion. Revenue grew 32.2% on a year-over-year basis.
Guided Higher: The company said it expects second quarter non-GAAP earnings of $0.33 to $0.35 per share on revenue of $1.28 billion to $1.32 billion. The previous consensus earnings estimate was $0.31 per share on revenue of $1.27 billion for the quarter ending June 30, 2023. The company said it expects 2023 non-GAAP earnings of $1.44 to $1.48 per share on revenue of $5.425 billion to $5.485 billion. The company's previous guidance was earnings of $1.39 to $1.41 per share on revenue of $5.37 billion to $5.43 billion.
Entry Point: $67.00
Stop Loss: $64.50
Trading Range: $42.61 to $71.63
Target Price: $73.60
