Fortinet, Inc. (NASDAQ:FTNT – Free Report) – Analysts at Scotiabank increased their FY2026 EPS estimates for Fortinet in a research note issued to investors on Thursday, October 1st. Scotiabank analyst P. Colville now expects that the software maker will post earnings of $3.10 per share for the year, up from their previous forecast of $2.77. Scotiabank has a “Sector Perform” rating and a $163.00 price objective on the stock. The consensus estimate for Fortinet’s current full-year earnings is $3.10 per share.
Other research analysts have also issued research reports about the company. Wells Fargo & Company set a $135.00 price objective on Fortinet and gave the company an “underweight” rating in a report on Thursday, July 30th. DZ Bank lowered Fortinet from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. HC Wainwright reaffirmed a “buy” rating on shares of Fortinet in a research report on Thursday, July 30th. BMO Capital Markets lifted their price target 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. Finally, Rosenblatt Securities boosted their price objective on shares of Fortinet from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $152.79.
Fortinet Price Performance
Shares of NASDAQ:FTNT opened at $191.27 on Tuesday. Fortinet has a fifty-two week low of $73.55 and a fifty-two week high of $192.41. The business has a 50-day moving average of $165.19 and a two-hundred day moving average of $137.32. The stock has a market capitalization of $140.34 billion, a P/E ratio of 67.35, a P/E/G ratio of 3.44 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.19.
Fortinet (NASDAQ:FTNT – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.75 by $0.15. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. Fortinet’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business 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.
Institutional Investors Weigh In On Fortinet
Several hedge funds have recently made changes to their positions in FTNT. Burk Holdings LLC acquired a new stake in shares of Fortinet during the 2nd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in Fortinet during the second quarter worth $25,000. Cornerstone Financial Management LLC increased its holdings in 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 buying an additional 83 shares during the period. Timbuktu Capital Management LLC acquired a new position in shares of Fortinet in the 2nd quarter valued at $31,000. Finally, Elevation Wealth Partners LLC raised its stake in shares of Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after buying an additional 75 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.
Insiders Place Their Bets
In other news, COO John Whittle sold 53,865 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $165.44, for a total transaction of $8,911,425.60. Following the completion of the transaction, the chief operating officer directly owned 96,987 shares in the company, valued at $16,045,529.28. The trade was a 35.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,121 shares of the firm’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 completion of the sale, the vice president owned 9,918,360 shares in the company, valued at approximately $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. Insiders have sold a total of 221,303 shares of company stock valued at $36,164,034 in the last three months. Company insiders own 17.60% of the company’s stock.
Fortinet Company Profile
Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.
Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.
Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.
Read More
- Five stocks we like better than Fortinet
- Constellation Energy’s Google Deal Shows Why Nuclear Uprates Matter for AI
- Lamb Weston’s Turnaround Is Starting to Look Real
- These 3 Stocks Got the Most Love From Analysts in September
- Record French Debt Could Create Opportunities for U.S. Market Operators
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.
