Needham & Company Cuts Price Target on Fortinet (FTNT) Following 3Q Preannouncement

Nomura Securities Cuts Price Target on Fortinet (FTNT) Following 3Q Preannouncement

Nomura Securities maintained a Buy rating on Fortinet (NASDAQ: FTNT), and cut the price target to $47.00 (from $55.00), following the company's 3Q preannouncement. Revenue is now expected to be $311-316mn, down from prior guidance of $319-324mn. EPS is expected to be $0.15-0.16... More

Fortinet (FTNT) volatility elevated into reporting lower than expected preliminary Q3 results

Fortinet (NASDAQ: FTNT) is recently down $4.76 to $29.33 in the premarket after reporting lower than expected preliminary Q3 results. October call option implied volatility is at 64, November is at 50; compared to its 52-week range of 28 to 70.

Fortinet (FTNT): Shortfall Macro, Not Company Specific - Oppenheimer

Oppenheimer analyst, Shaul Eyal, reiterated his Outperform rating on shares of Fortinet (NASDAQ: FTNT) despite the company pre-announcing disappointing 3Q16 results ($313.5M at the midpoint vs. consensus $322M). FTNT was impacted by macroeconomic issues in Latin America and the UK, and execution challenges... More

Option volume flows

Options expected to have increasing volume: CSX JPM C BAC WFC DAL FTNT

Options with increasing call volume on October 11; ALNY CUDA ZTS SWK CSOD ILMN LXK FTNT HA

Options with increasing put volume on October 11; FTNT TSM MPEL ILMN SWK ALLY ZNGA COG BURL

After-Hours Stock Movers 10/11: (HTGM) (IPCI) (VOXX) Higher; (FTNT) (PFPT) (PANW) Lower (more...)

Today's After-Hours Movers:

HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) 25.3% HIGHER; The company and Merck KGaA, Darmstadt, Germany, have entered a broad companion diagnostics master agreement. The initial development program agreement utilizes the HTG EdgeSeq DLBCL Cell of Origin Assay in the Merck KGaA, Darmstadt, Germany, M7583, selective and irreversible inhibitor of Burton’s Tyrosine Kinase (BTK), program.

Intellipharmaceutics International Inc. (Nasdaq: IPCI)... More

Fortinet (FTNT) Peers on Watch Following Soft Q3 Prelim. Results

Fortinet (NASDAQ: FTNT) peers were on watch after it issued preliminary Q3 results that fell short of consensus.

Several related tickers include Proofpoint (NASDAQ: PFPT), FireEye (NASDAQ: FEYE), Imperva (NYSE: IMPV), Palo Alto Networks (NYSE: PANW), and Check Point Software Technology (NASDAQ: CHKP).

Fortinet (FTNT) Warns on Q3 Revenue; Approves $100M Increase to Buyback Plan

Fortinet® (NASDAQ: FTNT), a global leader in high performance cyber security solutions, today announced preliminary financial results for the third quarter ended September 30, 2016.

Based on preliminary financial information, Fortinet expects total billings1 to be in the range of $343 million to $348 million compared to our previously announced guidance of $372 million to $376 million. Fortinet also expects to report total revenue for the third quarter of 2016 in the range of $311 million to $316 million compared to our previously announced guidance of $319 million to $324 million. Non-GAAP diluted net... More

Fortinet (FTNT) Prelim. Q3 Results Miss Views

Fortinet (NASDAQ: FTNT) announced preliminary financial results for the third quarter ended September 30, 2016.

Based on preliminary financial information, Fortinet expects total billings1 to be in the range of $343 million to $348 million compared to our previously announced guidance of $372 million to $376 million. Fortinet also expects to report total revenue for the third quarter of 2016 in the range of $311 million to $316 million compared to our previously announced guidance of $319 million to $324 million. Non-GAAP diluted net income1 per share is expected to be $0.15 to $0.16 compared... More