Fortinet (NASDAQ:FTNT) Stock Rating Lowered by Wall Street Zen

Posted by Brenda Bartman on Jul 28th, 2026

Fortinet (NASDAQ:FTNT – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Other research analysts have also recently issued research reports about the company. Morgan Stanley upgraded Fortinet from an “underweight” rating to an “outperform” rating and raised their price target for the company from $80.00 to $133.00 in a research report on Tuesday, July 21st. BTIG Research boosted their price objective on shares of Fortinet from $150.00 to $186.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $160.00 price objective on shares of Fortinet in a research note on Thursday, July 16th. Bank of America raised their target price on shares of Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Scotiabank lifted their target price on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $123.61.

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Fortinet Price Performance

Shares of NASDAQ:FTNT opened at $152.38 on Friday. The firm has a market capitalization of $111.64 billion, a price-to-earnings ratio of 58.83, a price-to-earnings-growth ratio of 4.14 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 $148.53 and its 200-day simple moving average is $107.17. Fortinet has a 12 month low of $70.12 and a 12 month high of $170.35.

Fortinet (NASDAQ:FTNT – Get Free Report) 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. The firm 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 160.08% and a net margin of 27.49%.Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, equities analysts forecast that Fortinet will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% 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. Insiders sold a total of 318,387 shares of company stock worth $43,403,063 over the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Brighton Jones LLC boosted 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 purchasing an additional 221 shares during the last quarter. Bison Wealth LLC acquired a new position in Fortinet in the fourth quarter valued at $585,000. HUB Investment Partners LLC lifted its position in Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after buying an additional 1,193 shares during the period. Diversify Advisory Services LLC purchased a new position in Fortinet during the second quarter worth about $1,136,000. Finally, Quantinno Capital Management LP boosted its stake in Fortinet by 27.4% in the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after buying an additional 31,202 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Company Profile

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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.