Analysts Set Fortinet, Inc. (NASDAQ:FTNT) Price Target at $150.91

Shares of Fortinet, Inc. (NASDAQ:FTNT) have been given a consensus recommendation of “Hold” by the thirty-six ratings firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $150.9091.

A number of brokerages have weighed in on FTNT. BMO Capital Markets increased their price target on Fortinet from $170.00 to $185.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Scotiabank restated a “sector perform” rating and set a $163.00 price objective on shares of Fortinet in a report on Thursday, July 30th. Barclays set a $190.00 price target on shares of Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Stifel Nicolaus set a $175.00 target price on Fortinet and gave the company a “hold” rating in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada set a $185.00 price target on shares of Fortinet and gave the stock a “sector perform” rating in a research report on Thursday, July 30th.

Fortinet Stock Performance

NASDAQ:FTNT opened at $160.01 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19. Fortinet has a 12 month low of $73.55 and a 12 month high of $172.09. The firm has a market capitalization of $117.40 billion, a PE ratio of 56.34, a price-to-earnings-growth ratio of 3.14 and a beta of 1.07. The business’s fifty day moving average price is $155.05 and its 200 day moving average price is $115.09.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, sell-side analysts anticipate that Fortinet will post 3.05 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 161,482 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders sold 475,157 shares of company stock worth $69,480,964. 17.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Fortinet during the 2nd quarter worth about $9,561,650,000. Norges Bank acquired a new stake in Fortinet in the fourth quarter valued at about $1,152,917,000. Bank of New York Mellon Corp bought a new position in Fortinet in the second quarter valued at about $1,432,842,000. Legal & General Group Plc acquired a new position in shares of Fortinet during the second quarter worth $979,062,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after purchasing an additional 4,500,194 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.