Fortinet (NASDAQ:FTNT) Given New $115.00 Price Target at UBS Group

Fortinet (NASDAQ:FTNT) had its price objective boosted by UBS Group from $90.00 to $115.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

FTNT has been the subject of several other reports. BMO Capital Markets boosted their price target on Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday. Rosenblatt Securities boosted their target price on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho boosted their price objective on Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a report on Thursday. Morgan Stanley restated an “underweight” rating and set a $80.00 price target on shares of Fortinet in a report on Thursday. Finally, Jefferies Financial Group set a $90.00 price target on Fortinet in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and a consensus price target of $99.04.

Fortinet Price Performance

Shares of FTNT stock opened at $107.97 on Thursday. Fortinet has a 1-year low of $70.12 and a 1-year high of $112.39. The stock’s 50-day moving average is $82.97 and its 200 day moving average is $81.98. The company has a market cap of $79.04 billion, a P/E ratio of 41.69, a PEG ratio of 3.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results 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 149.52% and a net margin of 27.49%.The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Research analysts predict that Fortinet will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.90, for a total transaction of $476,059.50. Following 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 ownership of the stock. The sale 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 business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the transaction, the vice president owned 9,927,517 shares in the company, valued at approximately $882,456,986.13. This represents a 0.02% decrease in their position. 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. 17.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fortinet

Several institutional investors have recently made changes to their positions in FTNT. Norges Bank acquired a new stake in Fortinet in the fourth quarter worth approximately $1,152,917,000. Vanguard Group Inc. increased its holdings in shares of Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after buying an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp raised its stake 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 raised its stake 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 raised its stake 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. 83.71% of the stock is owned by institutional investors.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q1 beat and guide-up: Fortinet reported stronger-than-expected Q1 results (revenue $1.85B, EPS $0.82) and raised Q2 and FY26 guidance, citing 20% revenue growth, 31% billings growth and record cash flow — a core driver of the rally. Fortinet Reports Strong First Quarter 2026 Financial Results
• Positive Sentiment: AI/data-center momentum: Management highlighted AI-security wins and data?center traction (new FortiGate G-series ASIC hardware) that supports higher-margin product growth and positions Fortinet for increased demand around AI deployments. Fortinet Expands FortiGate G Series
• Positive Sentiment: Broker upgrades/price-target lifts: Multiple firms raised targets and ratings after the quarter (BTIG and Rosenblatt upgraded to buy; Piper, Scotiabank lifted targets), supporting momentum and buy-side interest. BTIG upgrades Fortinet (FTNT)
• Neutral Sentiment: Some analysts remain cautious: Barclays, Needham and other shops left hold/neutral ratings despite the beat, signaling valuation concerns even as fundamentals improve. Barclays Sticks to Its Hold Rating for Fortinet
• Negative Sentiment: Insider sale: A Fortinet VP sold about $220K of stock — a short-term negative signal investors may watch for additional insider activity. Fortinet VP Sells $220,269.42 in Stock
• Negative Sentiment: Persistent bearish/underweight views: JPMorgan and Mizuho left underweight/underperform stances (even with some target tweaks), showing there is still material downside risk priced in by some institutions. Benzinga coverage of analyst moves

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.