Fortinet (NASDAQ:FTNT) Given New $125.00 Price Target at Rosenblatt Securities

Fortinet (NASDAQ:FTNT) had its target price raised by Rosenblatt Securities from $105.00 to $125.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 12.66% from the stock’s previous close.

Several other equities research analysts have also commented on FTNT. BMO Capital Markets lifted their price target on shares of Fortinet from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Monday. Arete Research set a $104.00 target price on Fortinet and gave the company a “buy” rating in a report on Monday, April 27th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a research report on Friday, February 6th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Fortinet in a research report on Friday, February 6th. Finally, UBS Group reissued a “neutral” rating and issued a $90.00 price objective on shares of Fortinet in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-three have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $94.00.

Fortinet Stock Up 23.3%

FTNT stock traded up $21.00 during trading on Thursday, hitting $110.95. 3,841,616 shares of the company’s stock were exchanged, compared to its average volume of 6,399,132. The business has a 50-day moving average price of $82.32 and a two-hundred day moving average price of $81.81. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $81.23 billion, a price-to-earnings ratio of 45.54, a PEG ratio of 3.08 and a beta of 0.92. Fortinet has a 52-week low of $70.12 and a 52-week high of $111.66.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. 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, equities research analysts expect that Fortinet will post 2.63 EPS for the current year.

Insider Activity at Fortinet

In other news, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer owned 52,978,004 shares of the company’s stock, valued at approximately $4,709,744,555.60. The trade was a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. Also, VP Michael Xie sold 2,478 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.89, for a total value of $220,269.42. Following the sale, the vice president owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. This trade represents a 0.02% decrease in their position. The SEC filing for this sale provides additional information. 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. Company insiders own 17.20% of the company’s stock.

Institutional Trading of Fortinet

Hedge funds have recently made changes to their positions in the company. Optimist Retirement Group LLC raised its holdings in Fortinet by 2.5% during the fourth quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock worth $398,000 after purchasing an additional 122 shares in the last quarter. PDS Planning Inc boosted its holdings in Fortinet by 3.1% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after purchasing an additional 123 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after purchasing an additional 123 shares in the last quarter. Delta Investment Management LLC increased its position in Fortinet by 2.4% during the 4th quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock worth $417,000 after purchasing an additional 125 shares during the period. Finally, Personal CFO Solutions LLC increased its position in Fortinet by 5.0% during the 1st quarter. Personal CFO Solutions LLC now owns 2,670 shares of the software maker’s stock worth $218,000 after purchasing an additional 127 shares during the period. 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: Beat?and?raise quarter: Q1 revenue $1.85B (+20.1% YoY), non?GAAP EPS $0.82 vs. consensus ~ $0.62, billings +31% and product revenue +41%; company raised Q2 and FY26 guidance, supporting near?term upside. Read More.
• Positive Sentiment: Market reaction — several outlets report the stock jumping in after?hours/premarket (double?digit moves on the beats) and Wall Street commentaries lifting targets and sentiment. Momentum from the beat is drawing buy?side attention. Read More.
• Positive Sentiment: AI/security product tailwind — Fortinet expanded its FortiGate G series (ASIC?accelerated, AI?focused data?center/edge appliances), reinforcing the company’s positioning to capture AI?driven security spend. Read More.
• Positive Sentiment: Analyst upgrades/price target increases from some shops (BTIG, BMO and others highlighted bullish scenarios, with some targets well above current levels), which can extend buying interest. Read More.
• Neutral Sentiment: Macro/market context is mildly supportive (equity futures and low VIX), which may amplify how earnings flows into sector leaders like Fortinet but isn’t company?specific. Read More.
• Neutral Sentiment: Some analysts remain cautious on valuation despite the beat (several Hold/Neutral calls were reiterated), so follow?through depends on execution against raised targets. Read More.
• Neutral Sentiment: Insider sales disclosed (Ken Xie, Michael Xie) were executed under Rule 10b5?1 plans to cover taxes on vested awards; routine but worth noting for those tracking insider flows. Read More.
• Negative Sentiment: Some firms issued cautious/underperform views (e.g., Mizuho kept an underperform stance despite a raised target), highlighting downside risk if growth or margin momentum fades relative to current valuation. Read More.
• Negative Sentiment: Background trimming by some institutional holders and a meaningful proportion of analysts rated Hold — this can cap upside if the stock needs a broader base of conviction beyond near?term earnings beats. 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.