Fortinet’s (FTNT) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Fortinet (NASDAQ:FTNT) in a report published on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has a $87.00 target price on the software maker’s stock.

Several other analysts have also recently weighed in on the stock. Robert W. Baird set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Mizuho lowered their price objective on shares of Fortinet from $74.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 14th. Wells Fargo & Company initiated coverage on shares of Fortinet in a research report on Tuesday, March 3rd. They set an “underweight” rating and a $64.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Fortinet in a research report on Friday, March 27th. Finally, Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a research report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.04.

Fortinet Stock Down 5.0%

Shares of NASDAQ:FTNT opened at $82.76 on Tuesday. The firm has a fifty day moving average price of $81.61 and a two-hundred day moving average price of $81.75. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The company has a market cap of $61.24 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.99 and a beta of 1.00. Fortinet has a one year low of $70.12 and a one year high of $109.33.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Analysts anticipate that Fortinet will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the transaction, the chief executive officer owned 51,396,385 shares in the company, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Xie sold 343,106 shares of Fortinet stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the transaction, the vice president owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their position. The SEC filing for this sale provides additional information. 17.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fortinet

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. State Street Corp raised its position in Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares during the period. Norges Bank purchased a new position in Fortinet in the 4th quarter worth $1,152,917,000. Bank of New York Mellon Corp raised its position in Fortinet by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after purchasing an additional 893,190 shares during the period. Finally, Invesco Ltd. raised its position in Fortinet by 17.0% in 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 during the period. Hedge funds and other institutional investors 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.