Fortinet (NASDAQ:FTNT) Price Target Raised to $75.00

Fortinet (NASDAQ:FTNT) had its target price increased by JPMorgan Chase & Co. from $73.00 to $75.00 in a report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the software maker’s stock.

A number of other brokerages have also weighed in on FTNT. Royal Bank Of Canada restated a “sector perform” rating and set a $107.00 price objective (up from $90.00) on shares of Fortinet in a research note on Thursday. Evercore set a $80.00 price objective on Fortinet in a research note on Friday, February 6th. Rosenblatt Securities raised their price objective on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group set a $90.00 target price on Fortinet in a research report on Friday, February 6th. Finally, Barclays set a $115.00 target price on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $100.45.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $114.07 on Thursday. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $114.66. The business has a 50 day moving average price of $82.97 and a two-hundred day moving average price of $81.98. The company has a quick ratio of 1.09, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm has a market cap of $83.51 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 3.90 and a beta of 0.92.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm earned $0.58 EPS. Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Sell-side analysts expect that Fortinet will post 2.64 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In other news, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at approximately $4,709,744,555.60. This trade represents a 0.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 2,478 shares of Fortinet stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the transaction, the vice president owned 9,927,517 shares of the company’s stock, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 17.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FTNT. Norges Bank acquired a new position in Fortinet during the 4th quarter valued at approximately $1,152,917,000. Vanguard Group Inc. boosted its position in Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. Van ECK Associates Corp boosted its position in Fortinet by 38.9% during the 4th quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock valued at $613,915,000 after purchasing an additional 2,166,396 shares during the period. First Trust Advisors LP boosted its position in Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after purchasing an additional 1,790,033 shares during the period. Finally, AQR Capital Management LLC boosted its position in Fortinet by 76.2% during the 4th quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock valued at $326,297,000 after purchasing an additional 1,777,115 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet delivered a strong Q1 beat, with revenue up 20% year over year, EPS ahead of estimates, billings up sharply, and full-year guidance raised, signaling stronger demand across cybersecurity and AI-related security products.
• Positive Sentiment: Several analysts turned more constructive, including BTIG’s upgrade to Buy, Rosenblatt’s Buy rating with a higher target, and Citi/Susquehanna/UBS/Piper all raising price targets to around the current share price or above, supporting bullish sentiment.
• Positive Sentiment: Commentary around Fortinet’s gains suggests the results helped dispel “AI disruption” fears and highlighted growing demand tied to a more complex threat environment, which is improving investor confidence in the company’s growth runway.
• Neutral Sentiment: Citigroup and Susquehanna raised their price target to $115 while maintaining Neutral ratings, implying limited upside from current levels even after the rally.
• Neutral Sentiment: RBC Capital and Needham kept Hold-type views, indicating that not all analysts see the valuation as compelling despite the improved fundamentals.
• Negative Sentiment: There were also insider sales by the CEO and a VP, which may temper enthusiasm somewhat, though these trades appear small relative to the stock’s recent move.

Fortinet Company Profile

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.