Fortinet, Inc. (NASDAQ:FTNT – Get Free Report)’s share price shot up 1.9% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $118.00 to $140.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Fortinet traded as high as $184.76 and last traded at $183.33. 3,160,661 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 5,775,844 shares. The stock had previously closed at $179.99.
Other research analysts also recently issued research reports about the stock. Morgan Stanley restated a “positive” rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. BMO Capital Markets lifted their target price on Fortinet from $170.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Fortinet in a report on Monday, August 24th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $200.00 price target on shares of Fortinet in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus target price of $162.36.
Check Out Our Latest Research Report on FTNT
Insider Transactions at Fortinet
In related news, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 3,121 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the transaction, the vice president owned 9,918,360 shares of the company’s stock, valued at approximately $1,613,022,886.80. This represents a 0.03% 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. In the last three months, insiders sold 221,303 shares of company stock valued at $36,164,034. Company insiders own 17.60% of the company’s stock.
Key Headlines Impacting Fortinet
Here are the key news stories impacting Fortinet this week:
- Positive Sentiment: Fortinet launched the FortiGuard Inline AI Security Service, a cloud-delivered offering that provides AI-specific inspection and guardrails for FortiGate customers. The product strengthens Fortinet’s position in the growing market for securing enterprise AI usage and could support additional recurring revenue. Fortinet Expands AI Security with the FortiGuard Inline AI Security Service
- Positive Sentiment: Analysts and investors are highlighting strong demand for Fortinet’s secure access service edge (SASE) firewall products, expansion in AI-powered security and ongoing share repurchases as potential catalysts before earnings. JPMorgan also raised its price target, while a separate analyst upgrade contributed to recent momentum. Fortinet Stock Gets Price Target Bump from JPMorgan Chase & Co.
- Positive Sentiment: Broader cybersecurity sentiment remains supportive as rising digital threats and AI-discovered vulnerabilities increase demand for advanced security tools. Cybersecurity-focused exchange-traded funds have posted strong year-to-date gains, improving the sector backdrop for FTNT. Top AI-Powered Cybersecurity Stocks to Buy as Digital Threats Rise
- Neutral Sentiment: Fortinet is scheduled to report third-quarter results, making the upcoming release the key near-term catalyst. The company previously exceeded quarterly revenue and earnings expectations and raised full-year 2026 guidance, but investors will be watching whether growth and margins remain strong.
- Negative Sentiment: Despite the momentum, FTNT’s premium valuation and potential margin pressure create execution risk. Wall Street brokerages currently rate the stock “Hold,” suggesting that much of the optimism surrounding AI security and recent gains may already be reflected in the share price. Fortinet Stock Rated Hold by Wall Street Brokerages
Hedge Funds Weigh In On Fortinet
Several hedge funds and other institutional investors have recently modified their holdings of FTNT. Burk Holdings LLC bought a new stake in Fortinet in the second quarter valued at $25,000. Dunhill Financial LLC bought a new position in shares of Fortinet during the second quarter valued at $25,000. Cornerstone Financial Management LLC boosted its stake in shares of Fortinet by 102.5% in the 2nd quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares in the last quarter. NFSG Corp acquired a new stake in shares of Fortinet in the 3rd quarter valued at $34,000. Finally, Timbuktu Capital Management LLC acquired a new stake in shares of Fortinet in the 2nd quarter valued at $31,000. Institutional investors own 83.71% of the company’s stock.
Fortinet Trading Up 1.9%
The company’s fifty day moving average price is $170.47 and its two-hundred day moving average price is $146.53. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The firm has a market cap of $134.51 billion, a P/E ratio of 64.55, a price-to-earnings-growth ratio of 3.36 and a beta of 1.03.
Fortinet (NASDAQ:FTNT – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.15. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, sell-side analysts predict that Fortinet, Inc. will post 3.10 EPS for the current fiscal year.
About Fortinet
Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.
Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.
Featured Articles
- Five stocks we like better than Fortinet
- Comfort Systems Earnings: AI Slowdown or More Growth Ahead?
- Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock
- 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps
- Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
Receive News & Ratings for Fortinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortinet and related companies with MarketBeat.com's FREE daily email newsletter.
