JPMorgan Chase & Co. Cuts Fortinet (NASDAQ:FTNT) Price Target to $72.00

Fortinet (NASDAQ:FTNT) had its target price cut by analysts at JPMorgan Chase & Co. from $75.00 to $72.00 in a report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 11.40% from the stock’s current price.

Several other equities research analysts have also issued reports on FTNT. Citigroup reissued a “neutral” rating and set a $85.00 target price (up from $83.00) on shares of Fortinet in a research note on Monday, January 12th. Barclays reduced their price objective on Fortinet from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Truist Financial set a $88.00 price target on shares of Fortinet in a research note on Tuesday, January 20th. Daiwa Capital Markets lowered Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price target on the stock. in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Fortinet in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.48.

Fortinet Trading Down 0.3%

Shares of NASDAQ:FTNT traded down $0.25 during trading on Friday, reaching $81.26. The stock had a trading volume of 7,074,212 shares, compared to its average volume of 6,463,354. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a market cap of $60.43 billion, a P/E ratio of 33.44, a PEG ratio of 2.86 and a beta of 1.07. The business has a fifty day moving average price of $80.31 and a 200-day moving average price of $83.88. 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 earnings results on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.70 billion. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. 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, analysts anticipate that Fortinet will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,546 shares of Fortinet stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the sale, the vice president directly owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. The trade was a 0.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ken Xie sold 158,485 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total value 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. The SEC filing for this sale provides additional information. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Fortinet

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. State Street Corp increased its position in shares of Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Geode Capital Management LLC grew its position in Fortinet by 5.2% in the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock worth $1,783,091,000 after acquiring an additional 828,569 shares during the period. Norges Bank purchased a new position in Fortinet in the second quarter valued at $1,640,900,000. Finally, Invesco Ltd. increased its position in Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after buying an additional 1,568,337 shares during the period. Institutional investors own 83.71% of the company’s stock.

More Fortinet News

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.