Fortinet, Inc. (NASDAQ:FTNT) Receives $113.97 Consensus Target Price from Brokerages

Fortinet, Inc. (NASDAQ:FTNT) has been given an average rating of “Hold” by the thirty-seven ratings firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, twenty-four have issued a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $123.6129.

Several analysts have recently commented on the stock. Compass Point set a $100.00 target price on shares of Fortinet in a report on Monday, May 4th. Barclays boosted their price target on shares of Fortinet from $155.00 to $170.00 and gave the stock an “equal weight” rating in a report on Monday, July 13th. Citigroup reaffirmed a “neutral” rating and issued a $165.00 price objective (up from $115.00) on shares of Fortinet in a research report on Wednesday. Weiss Ratings upgraded shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen raised shares of Fortinet from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% 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. Insiders sold 318,387 shares of company stock valued at $43,403,063 in the last three months. Company insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FTNT. State Street Corp lifted its position in shares of Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after acquiring an additional 477,397 shares in the last quarter. Norges Bank purchased a new position in shares of Fortinet in the fourth quarter valued at $1,152,917,000. Bank of New York Mellon Corp raised its stake in shares of Fortinet by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after purchasing an additional 893,190 shares during the period. First Trust Advisors LP raised its stake in shares of Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after purchasing an additional 3,598,487 shares during the period. Finally, Invesco Ltd. lifted its holdings in Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Fortinet Stock Up 0.5%

Shares of NASDAQ:FTNT opened at $152.37 on Friday. The business’s 50 day moving average is $148.02 and its 200 day moving average is $106.45. Fortinet has a 12-month low of $70.12 and a 12-month high of $170.35. The stock has a market cap of $111.63 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 4.12 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS 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 business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted $0.58 EPS. Fortinet’s quarterly revenue was up 20.1% compared to the same quarter last year. 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 2.8 earnings per share for the current fiscal year.

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.