Fortinet, Inc. (NASDAQ:FTNT) Receives $90.04 Consensus PT from Analysts

Shares of Fortinet, Inc. (NASDAQ:FTNT) have been assigned an average recommendation of “Hold” from the thirty-four research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $90.0370.

FTNT has been the subject of a number of research analyst reports. Truist Financial set a $88.00 price target on shares of Fortinet in a research note on Tuesday, January 20th. Jefferies Financial Group dropped their target price on Fortinet from $85.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, November 6th. Hsbc Global Res downgraded Fortinet from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. TD Cowen raised Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Friday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price target on shares of Fortinet in a research report on Monday, November 24th.

Fortinet Trading Up 1.8%

NASDAQ:FTNT opened at $83.07 on Friday. The stock has a market cap of $61.78 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 1.03. Fortinet has a 1 year low of $70.12 and a 1 year high of $114.82. The business has a fifty day moving average of $80.16 and a 200-day moving average of $84.03.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. Equities analysts predict that Fortinet will post 2.09 earnings per share for the current year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the transaction, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the sale, the vice president directly owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 18.00% of the stock is owned by insiders.

Institutional Trading of Fortinet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Fortinet by 6.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,305,352 shares of the software maker’s stock worth $137,800,000 after acquiring an additional 82,937 shares in the last quarter. Allstate Corp purchased a new stake in shares of Fortinet in the 3rd quarter valued at approximately $2,034,000. Asset Management One Co. Ltd. boosted its stake in Fortinet by 4.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 402,278 shares of the software maker’s stock worth $33,824,000 after purchasing an additional 17,892 shares during the period. Warther Private Wealth LLC boosted its stake in Fortinet by 39.7% in the 2nd quarter. Warther Private Wealth LLC now owns 182,160 shares of the software maker’s stock worth $19,258,000 after purchasing an additional 51,750 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Fortinet by 465.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock worth $64,255,000 after purchasing an additional 622,809 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

About Fortinet

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.