Keep an eye on Fortinet (FTNT).

RBC Capital reiterated its hold rating on the stock with a price target of $71 a share. We’ll also get a better idea of how FTNT is doing when it posts earnings on May 2. In its last earnings report, the company’s earnings per share of 51 cents beat by eight cents.

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Revenue of $1.42 billion – up about 11% year over year – beat by $10 million. Total billings came in at $1.86 billion, an 8.5% year-over-year jump from $1.72 billion.

For its first quarter, the company said it expects revenue to fall in a range of $1.3 billion to $1.36 billion, as compared to estimates for $1.38 billion.


Ian Cooper