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Last $42.14 USD
Change Today -0.82 / -1.91%
Volume 1.3M
FTNT On Other Exchanges
Symbol
Exchange
NASDAQ GS
Berlin
As of 8:10 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

fortinet inc (FTNT) Snapshot

Open
$42.81
Previous Close
$42.96
Day High
$43.26
Day Low
$41.86
52 Week High
08/10/15 - $50.31
52 Week Low
10/13/14 - $23.08
Market Cap
7.2B
Average Volume 10 Days
1.8M
EPS TTM
$0.09
Shares Outstanding
171.2M
EX-Date
--
P/E TM
490.1x
Dividend
--
Dividend Yield
--
Current Stock Chart for FORTINET INC (FTNT)

fortinet inc (FTNT) Related Businessweek News

No Related Businessweek News Found

fortinet inc (FTNT) Details

Fortinet, Inc. provides cyber security solutions for enterprises, service providers, and government organizations worldwide. The company offers FortiGate physical and virtual appliances products that provide various integrated security and networking functions to protect data, applications, and users from network- and content-level security threats; FortiManager product family to manage the system configuration and security functions of multiple FortiGate devices from a centralized console; and the FortiAnalyzer product family, which enables the collection, analysis, and archiving of content and log data generated by its products. It also offers FortiAP secure wireless access points; FortiWeb that provides security for Web-based applications; FortiMail for multi-featured messaging security; FortiDB for centrally managed database-specific security; FortiClient, an endpoint security product for desktops, laptops, and mobile devices; FortiScan for endpoint vulnerability assessment and remediation; and FortiSwitch Ethernet switches. In addition, the company provides FortiBridge bypass appliances to help ensure network availability; FortiAuthenticator for scalable secure authentication for enterprise networks; FortiADC for optimizing the availability and performance of mobile, cloud, and enterprise applications; FortiSandbox for detecting and mitigating advanced persistent threats; FortiCache to reduce the cost and impact of cached Internet content; FortiDNS for secure domain name system caching; FortiDDoS for protection against distributed denial of service attack; and FortiVoice for business telephone communication. Further, it offers security subscription, technical support, training, and professional services. The company was founded in 2000 and is headquartered in Sunnyvale, California.

3,336 Employees
Last Reported Date: 08/4/15
Founded in 2000

fortinet inc (FTNT) Top Compensated Officers

Co-Founder, Chairman and Chief Executive Offi...
Total Annual Compensation: $406.4K
Co-Founder, President, Chief Technology Offic...
Total Annual Compensation: $360.5K
Chief Financial Officer
Total Annual Compensation: $431.4K
Vice President of Corporate Development & Str...
Total Annual Compensation: $332.7K
Compensation as of Fiscal Year 2014.

fortinet inc (FTNT) Key Developments

Fortinet Inc. Announces Resignation of Hong Liang Lu as Member of the Board of Directors, as Member of the Audit Committee, Member of Nominating and Corporate Governance Committee

On August 24, 2015, Hong Liang Lu notified Fortinet Inc. that he was resigning as a member of the board of directors, as a member of the audit committee of the Board, and as a member of the nominating and corporate governance committee of the Board.

Fortinet Receives Non-Compliance Letter From NASDAQ

On August 24, 2015, Hong Liang Lu notified the Company that he was resigning as a member of the board of directors of Fortinet, Inc., as a member of the audit committee of the Board, and as a member of the nominating and corporate governance committee of the Board. Mr. Lu is resigning to focus his attention on other matters and not due to any disagreement with the Company on any matter related to the Company’s operations, policies or practices. As a result of the resignation of Mr. Lu, subject to the cure period discussed below, the Company is not currently in compliance with Listing Rule 5605(c)(2)(A) of the NASDAQ Stock Market LLC (“NASDAQ”). NASDAQ Listing Rule 5605(c)(2)(A) requires that the Company’s Audit Committee be comprised of at least three members. The Audit Committee was comprised of three members prior to Mr. Lu’s resignation, and is now comprised of only two members. Consistent with NASDAQ Listing Rule 5605(c)(4)(B), the Company has a cure period in order to regain compliance until the earlier of the Company’s next annual meeting of its stockholders or August 24, 2016. The Company intends to appoint a new independent director to the Audit Committee to fill the vacancy created by Mr. Lu’s resignation as soon as practicable, and the Company expects to comply with NASDAQ’s audit committee composition requirements within the specified cure period. The Company notified NASDAQ of its noncompliance with the listing rule described above on August 24, 2015, which notification also specified the Company’s reliance on the cure period specified in NASDAQ Listing Rule 5605(c)(4)(B). On August 27, 2015, the Company received a letter from NASDAQ indicating that the Company no longer complies with NASDAQ’s audit committee composition requirements as set forth in NASDAQ Listing Rule 5605(c).

Fortinet Appoints Yue Chin Beng as Director

Fortinet announced that it has appointed a regional director to manage and grow large strategic accounts across the Southeast Asia & Hong Kong region. Technology industry veteran Yue Chin Beng will now oversee Fortinet's relationships with Southeast Asia & Hong Kong customers who have businesses with two or more countries in this region, or with Fortinet on an Asia Pacific or global level. Yue's primary role is to identify possible avenues of synergies for these accounts, coordinate with the customers' Fortinet account managers in the various countries to better meet the clients' overall needs, and grow the accounts over time. Yue, which has over three decades of experience in the IT industry, previously worked at NetIQ, Novell, Attachmate Group and WordPerfect in a variety of local and regional business management, sales, channel, professional services and technical support roles.

 

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Industry Analysis

FTNT

Industry Average

Valuation FTNT Industry Range
Price/Earnings 100.0x
Price/Sales 8.4x
Price/Book 9.8x
Price/Cash Flow 556.1x
TEV/Sales 7.4x
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