Brokerages Set Fortinet, Inc. (NASDAQ:FTNT) PT at $90.04

Shares of Fortinet, Inc. (NASDAQ:FTNT) have been given an average recommendation of “Hold” by the thirty-four analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, twenty-three have given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $90.4815.

Several research firms have recently commented on FTNT. Mizuho reduced their price target on Fortinet from $75.00 to $72.00 and set an “underperform” rating for the company in a report on Thursday, November 6th. Truist Financial set a $88.00 price objective on Fortinet in a report on Tuesday, January 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $87.00 target price on shares of Fortinet in a report on Monday, November 24th. Piper Sandler restated a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Monday, January 5th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $70.00 price target (up from $66.00) on shares of Fortinet in a research note on Thursday, December 18th.

Fortinet Stock Down 0.3%

Shares of NASDAQ:FTNT opened at $81.26 on Friday. The company has a market cap of $60.43 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.84 and a beta of 1.07. The firm’s 50-day simple moving average is $80.36 and its 200-day simple moving average is $83.73. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $114.82.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. As a group, equities research analysts predict that Fortinet will post 2.09 earnings per share for the current year.

Insider Transactions at Fortinet

In other Fortinet news, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction of $306,835.38. Following the transaction, the vice president directly owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ken Xie sold 158,485 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the transaction, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at approximately $4,445,911,452.29. This trade represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortinet

Hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management acquired a new position in shares of Fortinet during the 2nd quarter worth $25,000. Financial Consulate Inc. acquired a new stake in Fortinet in the 3rd quarter valued at about $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Fortinet in the 3rd quarter valued at about $25,000. Pinnacle Holdings LLC purchased a new position in Fortinet during the 3rd quarter valued at about $25,000. Finally, Ameriflex Group Inc. acquired a new position in Fortinet during the third quarter worth about $25,000. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Rosenblatt upgraded FTNT to a Buy and raised its price target to $100 (from $85), a bullish endorsement that can support share gains. Read More.
• Positive Sentiment: TD Cowen upgraded FTNT to Buy (PT $100) and called the valuation reasonable after channel checks showed stability — an influential bank upgrade that likely boosted buying interest. Read More.
• Positive Sentiment: Fortinet announced a FortiCNAPP upgrade emphasizing tighter cloud security integration and investor-focused messaging on cloud risk management — product progress that supports the company’s platform story and competitive moat. Read More.
• Positive Sentiment: Sector lift: coverage of Fortinet’s upgrades has helped buoy cybersecurity peers (e.g., CrowdStrike), indicating the upgrade-driven sentiment is spilling across the group and can provide additional support to FTNT. Read More.
• Neutral Sentiment: Elevated investor interest/search activity around FTNT signals heightened attention and liquidity, which can amplify moves in either direction depending on news flow. Read More.
• Neutral Sentiment: Multiple pieces profile Fortinet’s unified cloud-risk platform and longer-term moat — constructive for medium-term growth expectations but not an immediate earnings catalyst. Read More.
• Negative Sentiment: Zacks preview warns Fortinet lacks the setup for a likely earnings beat next week — this raises downside risk into the print and helps explain intraday pullbacks despite the bullish headlines. Read More.
• Neutral Sentiment: Scheduled earnings coverage and media previews mean volatility is likely until results/guidance are released — traders should watch the upcoming report for guidance vs. consensus. Read More.

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.