Fortinet (FTNT) Price Target Lifted to $43 at Nomura on Strong Billings

Fortinet (FTNT) Software Security Peers Gain (FEYE) (PANW) (CYBR)

A handful of security stocks gained pre-market Tuesday following strong Q1 results and guidance from Fortinet (NASDAQ: FTNT). Gainers include CyberArk Software (NASDAQ: CYBR), FireEye (NASDAQ: FEYE), Imperva (NYSE: IMPV), Check Point Software Technology (NASDAQ: CHKP), Vasco Data Security (NASDAQ: VDSI), and Palo Alto Networks (NYSE: PANW).

Fortinet (FTNT) PT, Estimates Lifted at Piper Jaffray Amid 'Solid' Q1

Piper Jaffray analyst Andrew Nowinski reiterated an Overweight rating and raised his price target on Fortinet (NASDAQ: FTNT) to $45.00 (from $38.00) following solid Q1 results after the close.

Nowinski commented, "Fortinet reported solid Q1 results, highlighted by record billings growth and solid large... More

Oppenheimer Reiterates Bullish Stance on Fortinet (FTNT) Amid Strong Results

Oppenheimer analyst Shaul Eyal reiterated an Outperform rating and $39 price target on Fortinet (NASDAQ: FTNT) following strong results after the close.

Eyal commented, "FTNT reported strong 1Q15 results across all geographies, product lines, and verticals with all metrics (revenue, EPS, billings & CFO) beating... More

Fortinet (FTNT) FY15 Guidance Tops Views

Fortinet (NASDAQ: FTNT) sees FY15 EPS of $0.51-$0.52 vs the consensus of $0.50. FY revenue is seen at $935-$940 vs the consensus of $926.10 million.

Q2 EPS is seen at $0.08-$0.09 vs consensus of $0.11. Q2 revenue is seen at $224-$228 million vs consensus of $222.10 million.

Fortinet (FTNT) Tops Q1 EPS by 2c, Revenue Beats

Fortinet (NASDAQ: FTNT) reported Q1 EPS of $0.08, $0.02 better than the analyst estimate of $0.06. Revenue for the quarter came in at $212.9 million versus the consensus estimate of $205.21 million.

Total billings were $254.3 million for the first quarter of 2015, an increase of 36% compared to $187.6 million... More