Brokers Set Expectations for Fortinet FY2026 Earnings

Fortinet, Inc. (NASDAQ:FTNT - Free Report) - Equities research analysts at Cantor Fitzgerald issued their FY2026 earnings per share estimates for Fortinet in a research note issued to investors on Monday, June 9th. Cantor Fitzgerald analyst J. Ruykhaver anticipates that the software maker will earn $2.52 per share for the year. Cantor Fitzgerald currently has a "Neutral" rating and a $100.00 target price on the stock. The consensus estimate for Fortinet's current full-year earnings is $2.09 per share.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The software maker reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm posted $0.43 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis.

Several other research analysts have also recently weighed in on FTNT. Stephens started coverage on shares of Fortinet in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $108.00 price objective for the company. Wells Fargo & Company lowered their target price on Fortinet from $105.00 to $95.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Royal Bank of Canada cut their price target on Fortinet from $110.00 to $105.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Morgan Stanley lowered their price objective on Fortinet from $123.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Roth Capital set a $103.00 target price on shares of Fortinet and gave the company a "neutral" rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Fortinet currently has an average rating of "Hold" and an average target price of $104.80.

Fortinet Price Performance

NASDAQ:FTNT traded down $0.45 on Tuesday, reaching $101.63. The stock had a trading volume of 3,789,146 shares, compared to its average volume of 4,975,228. The company has a market capitalization of $77.79 billion, a P/E ratio of 44.97, a price-to-earnings-growth ratio of 4.19 and a beta of 1.06. The stock has a fifty day moving average price of $100.26 and a 200-day moving average price of $99.94. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. Fortinet has a 1-year low of $54.57 and a 1-year high of $114.82.

Institutional Trading of Fortinet

A number of institutional investors have recently modified their holdings of FTNT. Norges Bank bought a new position in shares of Fortinet in the 4th quarter valued at $724,048,000. Schroder Investment Management Group acquired a new position in Fortinet in the 4th quarter valued at approximately $389,867,000. Vanguard Group Inc. lifted its holdings in shares of Fortinet by 5.2% during the first quarter. Vanguard Group Inc. now owns 71,662,404 shares of the software maker's stock worth $6,898,223,000 after purchasing an additional 3,546,934 shares during the period. FMR LLC grew its stake in shares of Fortinet by 77.2% in the fourth quarter. FMR LLC now owns 6,531,705 shares of the software maker's stock worth $617,115,000 after purchasing an additional 2,846,475 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Fortinet by 39.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,622,253 shares of the software maker's stock worth $720,150,000 after purchasing an additional 2,151,811 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fortinet news, Director William H. Neukom bought 335 shares of Fortinet stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $104.22 per share, for a total transaction of $34,913.70. Following the purchase, the director now owns 301,471 shares of the company's stock, valued at $31,419,307.62. The trade was a 0.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Xie sold 3,546 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $106.11, for a total value of $376,266.06. Following the completion of the transaction, the vice president now directly owns 11,000,068 shares in the company, valued at $1,167,217,215.48. The trade was a 0.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,034 shares of company stock valued at $17,391,843 in the last quarter. 17.20% of the stock is currently owned by insiders.

Fortinet Company Profile

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.