Fortinet Sees FY24 Revenue $5.715B-$5.815B Vs $5.934B Estimate; Sees Adj. EPS $1.65-$1.70 Vs $1.67 Estimate
Portfolio Pulse from Benzinga Newsdesk
Fortinet projects its FY24 revenue to be between $5.715B and $5.815B, which is below the estimated $5.934B. However, its forecasted adjusted EPS of $1.65 to $1.70 aligns closely with the $1.67 estimate.
February 06, 2024 | 9:16 pm
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NEGATIVE IMPACT
Fortinet's FY24 revenue projection is below market expectations, but its adjusted EPS forecast is in line with estimates.
The lower-than-expected revenue forecast for FY24 could lead to negative investor sentiment and potentially impact Fortinet's stock price in the short term. However, the alignment of the adjusted EPS forecast with estimates might mitigate some of the negative impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100