Fortinet (NASDAQ:FTNT) Stock Gets Price Target Trim from Rosenblatt Securities

Posted by Brian Himes on Nov 1st, 2026

Fortinet (NASDAQ:FTNT – Free Report) had its price target lowered by Rosenblatt Securities from $195.00 to $175.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other equities analysts have also recently weighed in on the stock. Stifel Nicolaus set a $175.00 price objective on shares of Fortinet and gave the stock a “hold” rating in a research report on Thursday, July 30th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price objective (up from $110.00) on shares of Fortinet in a report on Thursday, July 30th. BMO Capital Markets lifted their target price on shares of Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Morgan Stanley reissued a “positive” rating and set a $136.00 target price (up from $133.00) on shares of Fortinet in a research note on Thursday, July 30th. Finally, Roth Capital upped their price target on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-four have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fortinet presently has a consensus rating of “Hold” and an average price target of $147.94.

Get Our Latest Stock Analysis on Fortinet

Fortinet Stock Down 2.2%

Shares of FTNT opened at $136.08 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.19 and a debt-to-equity ratio of 0.22. Fortinet has a 12 month low of $73.55 and a 12 month high of $197.13. The stock’s 50 day moving average is $171.34 and its two-hundred day moving average is $128.28. The firm has a market cap of $99.84 billion, a P/E ratio of 44.18, a PEG ratio of 2.53 and a beta of 1.03.

Fortinet (NASDAQ:FTNT – Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The software maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Fortinet had a return on equity of 152.72% and a net margin of 28.96%. The business’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. Analysts predict that Fortinet will post 3.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other news, COO John Whittle sold 53,865 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $165.44, for a total transaction of $8,911,425.60. Following the completion of the sale, the chief operating officer owned 96,987 shares of the company’s stock, valued at $16,045,529.28. This represents a 35.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,121 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. The trade was a 0.03% 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. In the last 90 days, insiders have sold 221,303 shares of company stock worth $36,164,034. Corporate insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Fortinet

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Fortinet during the second quarter worth about $9,561,650,000. First Trust Advisors LP lifted its position in shares of Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after purchasing an additional 3,598,487 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Fortinet by 87.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock valued at $788,682,000 after purchasing an additional 4,500,194 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Fortinet in the second quarter valued at approximately $1,432,842,000. Finally, Legal & General Group Plc purchased a new position in shares of Fortinet in the second quarter valued at approximately $979,062,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

Positive Sentiment: Fortinet reported third-quarter revenue of approximately $2.08 billion, up 20.5% year over year, and adjusted EPS of $0.91, exceeding consensus estimates. Billings increased 29%, while operating margins reached a record. Fortinet Q3 Earnings and Revenues Beat Estimates
Positive Sentiment: Management raised full-year 2026 guidance to $8.1 billion-$8.2 billion in revenue and $3.54-$3.58 in EPS. Fourth-quarter EPS guidance of $0.93-$0.95 also exceeds the consensus estimate of $0.86. Fortinet Raises Guidance
Positive Sentiment: The board authorized an additional $1.2 billion in share repurchases, and quarterly free cash flow was approximately $865 million. Analysts at TD Cowen, Rosenblatt and Truist retained bullish ratings despite lowering their price targets. Fortinet Adds to Buyback Program
Neutral Sentiment: Fortinet is technically oversold after a sharp multi-week decline, while rising earnings estimates could support a rebound. However, the technical signal does not resolve concerns about the company’s growth mix. Fortinet May See a Trend Reversal
Negative Sentiment: Service revenue grew only 13%, versus 37% growth in product revenue. Investors are concerned that hardware sales tied to AI infrastructure are not converting into recurring services quickly enough, reducing near-term revenue visibility. The Real Reason Fortinet Dropped
Negative Sentiment: Management lowered its services outlook, while fourth-quarter revenue guidance implies growth deceleration from the third quarter. Normalizing pricing benefits, higher inventory costs and longer component lead times added to investor concerns.
Negative Sentiment: Wells Fargo cut its price target to $115 and assigned an underweight rating; Susquehanna lowered its target to $145 and rated the shares neutral. Other firms, including Bank of America, Citi, Barclays and Scotiabank, also reduced targets or ratings. Analysts Cut Fortinet Forecasts
Negative Sentiment: The broader technology and cybersecurity sell-off is amplifying the reaction, despite a major cryptocurrency hack highlighting demand for digital security. Investors are also questioning whether Fortinet’s premium valuation remains justified as growth slows.

Fortinet Company Profile

(Get Free Report)

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.