Fortinet, Inc. (NASDAQ:FTNT – Get Free Report) shares reached a new 52-week high on Tuesday after BTIG Research raised their price target on the stock from $125.00 to $150.00. BTIG Research currently has a buy rating on the stock. Fortinet traded as high as $134.35 and last traded at $134.29, with a volume of 1148122 shares trading hands. The stock had previously closed at $133.93.
FTNT has been the subject of several other reports. Stephens set a $115.00 price objective on Fortinet and gave the company an “equal weight” rating in a research report on Thursday, May 7th. UBS Group increased their price objective on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Morgan Stanley reissued an “underweight” rating and issued a $80.00 price objective on shares of Fortinet in a research report on Thursday, May 7th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $83.00 target price on shares of Fortinet in a research report on Friday, February 6th. Finally, Susquehanna raised their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $102.69.
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Insider Buying and Selling
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of FTNT. Norges Bank acquired a new position in Fortinet during the fourth quarter worth $1,152,917,000. Arrowstreet Capital Limited Partnership raised its stake in Fortinet by 87.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after acquiring an additional 4,500,194 shares in the last quarter. First Trust Advisors LP raised its stake in 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 acquiring an additional 3,598,487 shares in the last quarter. Vanguard Group Inc. raised its stake in Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after acquiring an additional 2,894,355 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after acquiring an additional 2,166,396 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.
Fortinet Stock Up 0.3%
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 firm has a 50 day simple moving average of $93.06 and a 200-day simple moving average of $85.25. The stock has a market capitalization of $98.39 billion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 3.68 and a beta of 0.92.
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 (EPS) for the quarter, topping 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 firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.58 earnings per share. The business’s revenue for the quarter 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, sell-side analysts forecast that Fortinet, Inc. will post 2.77 EPS for the current fiscal year.
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.
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