Brokerages Set Fortinet, Inc. (NASDAQ:FTNT) Price Target at $107.77

Shares of Fortinet, Inc. (NASDAQ:FTNT) have earned an average recommendation of “Hold” from the thirty-six research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, twenty-five have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $107.7667.

FTNT has been the topic of several analyst reports. Morgan Stanley reiterated an “underweight” rating and set a $80.00 target price on shares of Fortinet in a report on Thursday, May 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $87.00 price target on shares of Fortinet in a research report on Tuesday, April 21st. BMO Capital Markets boosted their price target on Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Compass Point set a $100.00 price target on Fortinet in a research report on Monday, May 4th. Finally, Stephens set a $115.00 price target on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday, May 7th.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares of the company’s stock, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their ownership of the stock. The sale 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, COO John Whittle sold 146,015 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 318,387 shares of company stock valued at $43,403,063 over the last 90 days. 17.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortinet

Institutional investors and hedge funds have recently made changes to their positions in the company. Pinnacle Holdings LLC acquired a new position in shares of Fortinet in the third quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in shares of Fortinet in the third quarter valued at approximately $25,000. Wexford Capital LP acquired a new position in shares of Fortinet in the third quarter valued at approximately $25,000. Physician Wealth Advisors Inc. grew its position in shares of Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new position in shares of Fortinet in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet News Roundup

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Analysts and media highlighted Fortinet’s AI-driven security push, including the FortiSOC launch, with demand trends and recent strong earnings fueling expectations for continued growth momentum. Is Fortinet Stock Poised for Strong Growth With AI-Driven Security?
• Positive Sentiment: Fortinet was also featured as an IBD Stock of the Day after investors focused on its network firewall products benefiting from AI data center buildouts, where more server traffic creates greater demand for security tools. Fortinet, IBD Stock Of The Day, Gets Network Firewall Boost From AI Data Centers
• Positive Sentiment: The company announced Derek Kan will join its board of directors, adding public-sector, AI, and technology operating experience that could be viewed as a strategic governance positive. Fortinet Appoints Public Sector Leader and Tech Executive Derek Kan to Its Board of Directors
• Neutral Sentiment: Several additional articles repeated the same growth and AI-security themes, reinforcing the bullish narrative rather than adding new catalysts. Is Fortinet Stock Poised for Strong Growth With AI-Driven Security?
• Neutral Sentiment: One market commentary noted broader tech stocks rebounding, which may have provided a supportive backdrop for FTNT, but was not specific to Fortinet. Dow Jones Futures: Nasdaq Set To Regain Key Level As Korea’s Kospi Rebounds, Micron Due; FedEx, Cerebras Tumble
• Negative Sentiment: Seeking Alpha warned that while Fortinet’s growth story is real, the valuation may also be stretched, which could temper upside if investors become more price-sensitive. Fortinet: The Growth Story Is Real, But So Is The Price Tag

Fortinet Stock Performance

FTNT stock opened at $149.93 on Tuesday. The firm has a market cap of $109.85 billion, a PE ratio of 57.89, a P/E/G ratio of 3.98 and a beta of 1.11. The business’s 50-day moving average price is $121.59 and its two-hundred day moving average price is $95.22. Fortinet has a 1-year low of $70.12 and a 1-year high of $151.97. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company earned $0.58 earnings per share. Fortinet’s quarterly revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, research analysts forecast that Fortinet will post 2.78 earnings per share for the current 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.