Fortinet (NASDAQ:FTNT) Sets New 1-Year High – Should You Buy?

Fortinet, Inc. (NASDAQ:FTNT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $159.80 and last traded at $158.8530, with a volume of 1692999 shares trading hands. The stock had previously closed at $153.62.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FTNT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 target price on shares of Fortinet in a research note on Thursday, May 7th. BTIG Research raised their price objective on Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Compass Point set a $100.00 price objective on Fortinet in a research report on Monday, May 4th. Scotiabank upped their target price on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $107.58.

Fortinet Trading Down 1.7%

The stock has a market cap of $114.48 billion, a P/E ratio of 60.33, a PEG ratio of 4.35 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07. The business’s 50 day simple moving average is $128.87 and its 200 day simple moving average is $97.77.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.58 EPS. The company’s 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, analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. 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, COO John Whittle sold 146,015 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 318,387 shares of company stock worth $43,403,063 over the last three months. Company insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Fortinet

A number of hedge funds have recently made changes to their positions in FTNT. Brighton Jones LLC increased its holdings in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock worth $976,000 after buying an additional 221 shares in the last quarter. Bison Wealth LLC bought a new stake in Fortinet during the 4th quarter worth approximately $585,000. HUB Investment Partners LLC grew its position in Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after acquiring an additional 1,193 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Fortinet during the 2nd quarter valued at $1,136,000. Finally, Quantinno Capital Management LP increased its holdings in Fortinet by 27.4% during the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after purchasing an additional 31,202 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.