Brokerages Set Fortinet, Inc. (NASDAQ:FTNT) PT at $87.72

Shares of Fortinet, Inc. (NASDAQ:FTNT) have earned an average rating of “Hold” from the thirty-five brokerages that are covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, twenty-four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $100.4483.

Several equities analysts have commented on FTNT shares. Rosenblatt Securities increased their target price on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. Oppenheimer reiterated a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Stifel Nicolaus set a $85.00 target price on Fortinet in a research report on Wednesday, March 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 target price on shares of Fortinet in a research report on Thursday.

Insider Activity

In other news, CEO Ken Xie sold 5,355 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 52,978,004 shares of the company’s stock, valued at approximately $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $88.89, for a total value of $220,269.42. Following the completion of the sale, the vice president directly 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 disclosure for this sale is available in the SEC filing. 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 Investors Weigh In On Fortinet

Several large investors have recently added to or reduced their stakes in the business. Florida Financial Advisors LLC grew its stake in Fortinet by 3.0% during the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock worth $309,000 after purchasing an additional 109 shares during the period. Optimist Retirement Group LLC grew its stake in Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after purchasing an additional 122 shares during the period. PDS Planning Inc grew its stake in Fortinet by 3.1% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock worth $326,000 after purchasing an additional 123 shares during the period. GW&K Investment Management LLC grew its stake in Fortinet by 31.4% during the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after purchasing an additional 123 shares during the period. Finally, Delta Investment Management LLC grew its stake in Fortinet by 2.4% during the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Price Performance

Shares of FTNT stock opened at $114.07 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet has a twelve month low of $70.12 and a twelve month high of $114.66. The company has a market cap of $83.51 billion, a P/E ratio of 44.04, a P/E/G ratio of 3.69 and a beta of 0.92. The business has a fifty day simple moving average of $82.97 and a 200 day simple moving average of $81.98.

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

Key Headlines Impacting Fortinet

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.

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.