Analysts Set Fortinet, Inc. (NASDAQ:FTNT) Price Target at $113.97

Shares of Fortinet, Inc. (NASDAQ:FTNT) have received a consensus recommendation of “Hold” from the thirty-six analysts that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, twenty-three have assigned a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $115.5806.

A number of equities research analysts have recently weighed in on FTNT shares. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 target price (up from $70.00) on shares of Fortinet in a research note on Monday. Wall Street Zen raised shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Saturday. BTIG Research upped their price objective on shares of Fortinet from $150.00 to $186.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Compass Point set a $100.00 target price on shares of Fortinet in a research note on Monday, May 4th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a research note on Tuesday, April 21st.

Fortinet Stock Performance

NASDAQ:FTNT opened at $160.36 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $170.35. The business has a 50 day moving average price of $145.20 and a 200-day moving average price of $104.52. The firm has a market cap of $117.49 billion, a PE ratio of 61.92, a price-to-earnings-growth ratio of 4.39 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities research analysts predict that Fortinet will post 2.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fortinet

Several institutional investors have recently modified their holdings of FTNT. Physician Wealth Advisors Inc. lifted its holdings in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares during the period. Wexford Capital LP purchased a new stake in shares of Fortinet during the 3rd quarter valued at about $25,000. Elyxium Wealth LLC purchased a new stake in shares of Fortinet during the 4th quarter valued at about $27,000. Palisade Asset Management LLC bought a new position in Fortinet in the third quarter worth approximately $28,000. Finally, Ares Financial Consulting LLC bought a new position in Fortinet in the fourth quarter worth approximately $29,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Fortinet Company Profile

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.