Fortinet Achieves Q2 Non-GAAP EPS OF $0.24, Beating Expectations By $0.02
August 4, 2022
Market Reaction 🌥️
On Wednesday, FORTINET ($NASDAQ:FTNT) stock opened at $61.2 and closed at $62.9, up by 4.2% from prior closing price of 60.4, after the company announced their Q2 earnings. Although their earnings beat expectations by $0.02, with a non-GAAP EPS of $0.24, most media sentiment surrounding the company is negative.
VI Analysis – Fortinet Intrinsic Value
The company’s fundamentals reflect its long-term potential. Fortinet Intrinsic Value is around $48.02, calculated by VI Line. Now FORTINET stock is traded at $53.29, overvalued by 13.05%.
The company’s stock price rose by 4.2% following the news. FORTINET has a long history of delivering innovative and effective cybersecurity solutions, and its strong second quarter results are a testament to this. The company’s products are well-regarded by industry experts, and its financial performance is solid. As such, FORTINET is a great choice for investors looking for exposure to the cybersecurity sector.
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