Fortinet, Inc. (NASDAQ:FTNT) Given Consensus Recommendation of “Hold” by Analysts

Fortinet, Inc. (NASDAQ:FTNT) has been assigned an average recommendation of “Hold” from the thirty-five brokerages that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, twenty-four have issued a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $102.6897.

Several research analysts recently commented on FTNT shares. Wells Fargo & Company reiterated an “underweight” rating and issued a $70.00 price target (up from $64.00) on shares of Fortinet in a research note on Thursday, May 7th. BTIG Research upped their target price on Fortinet from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Fortinet in a research note on Friday, February 6th. Sanford C. Bernstein reissued a “market perform” rating and set a $83.00 price target on shares of Fortinet in a research report on Friday, February 6th. Finally, Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a research note on Friday, February 6th.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following the completion of the transaction, the chief executive officer owned 52,978,004 shares in the company, valued at $4,709,744,555.60. The trade was a 0.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the transaction, the vice president owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. This represents 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. Insiders sold a total of 153,848 shares of company stock valued at $19,446,115 over the last 90 days. 17.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fortinet

Several institutional investors have recently modified their holdings of FTNT. Expressive Wealth LLC acquired a new stake in shares of Fortinet in the 4th quarter valued at about $646,000. Trilogy Capital Inc. boosted its position in shares of Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after purchasing an additional 14,076 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Fortinet in the 3rd quarter valued at $1,177,000. Leonteq Securities AG purchased a new stake in Fortinet in the 4th quarter valued at $10,422,000. Finally, Victory Capital Management Inc. grew its position in Fortinet by 5.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock worth $138,874,000 after purchasing an additional 90,284 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 1.4%

NASDAQ FTNT opened at $129.70 on Friday. Fortinet has a one year low of $70.12 and a one year high of $134.91. The company’s 50 day moving average price is $95.87 and its 200 day moving average price is $86.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The firm has a market capitalization of $95.02 billion, a price-to-earnings ratio of 50.08, a PEG ratio of 3.52 and a beta of 0.92.

Fortinet (NASDAQ:FTNT) last issued its 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 net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm posted $0.58 EPS. The business’s revenue for the quarter 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 predict that Fortinet will post 2.77 EPS for the current 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.