Fortinet (FTNT) to Release Quarterly Earnings on Wednesday

Fortinet (NASDAQ:FTNT - Get Free Report) will likely be announcing its Q1 2025 earnings results after the market closes on Wednesday, May 7th. Analysts expect Fortinet to post earnings of $0.53 per share and revenue of $1.54 billion for the quarter. Fortinet has set its Q1 2025 guidance at 0.520-0.540 EPS and its FY 2025 guidance at 2.410-2.470 EPS.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. On average, analysts expect Fortinet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortinet Stock Performance

Shares of FTNT stock traded up $1.97 on Friday, hitting $106.18. The company's stock had a trading volume of 3,794,719 shares, compared to its average volume of 5,059,167. Fortinet has a fifty-two week low of $54.57 and a fifty-two week high of $114.82. The company has a market capitalization of $81.65 billion, a PE ratio of 46.98, a PEG ratio of 4.19 and a beta of 1.09. The stock's 50 day moving average is $98.64 and its 200-day moving average is $96.60. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47.

Analyst Upgrades and Downgrades

FTNT has been the subject of several recent research reports. Susquehanna boosted their price target on Fortinet from $90.00 to $110.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Jefferies Financial Group dropped their price target on Fortinet from $115.00 to $105.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Stephens initiated coverage on shares of Fortinet in a report on Tuesday, April 1st. They set an "equal weight" rating and a $108.00 price target for the company. Robert W. Baird restated a "neutral" rating and set a $112.00 target price (up from $105.00) on shares of Fortinet in a research note on Monday, February 3rd. Finally, Citigroup lifted their price target on Fortinet from $100.00 to $101.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Fortinet has a consensus rating of "Hold" and an average target price of $104.77.

Insider Activity at Fortinet

In related news, CFO Keith Jensen sold 23,500 shares of Fortinet stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.56, for a total transaction of $2,668,660.00. Following the transaction, the chief financial officer now owns 4,736 shares of the company's stock, valued at $537,820.16. The trade was a 83.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ken Xie sold 206,000 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $96.93, for a total value of $19,967,580.00. Following the completion of the sale, the chief executive officer now directly owns 51,391,879 shares of the company's stock, valued at $4,981,414,831.47. The trade was a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 576,944 shares of company stock valued at $56,944,064. 18.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fortinet stock. Brighton Jones LLC boosted its holdings in Fortinet, Inc. (NASDAQ:FTNT - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,327 shares of the software maker's stock after purchasing an additional 221 shares during the period. Brighton Jones LLC's holdings in Fortinet were worth $976,000 as of its most recent SEC filing. Institutional investors and hedge funds own 83.71% of the company's stock.

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.