Fortinet, Inc. (NASDAQ:FTNT) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts rate Fortinet “Hold” overall: Among 37 analysts, 19 recommend holding, 11 recommend buying, 2 strongly recommend buying and 5 recommend selling. The average 12-month price target is $150.91.
• Fortinet exceeded quarterly expectations: The company reported adjusted EPS of $0.90 versus the $0.75 consensus estimate and revenue of $2.05 billion, up 25.6% year over year and above the $1.89 billion forecast.
• Insiders have been net sellers: Fortinet insiders sold 475,157 shares worth approximately $69.5 million over the past 90 days, while institutional investors and hedge funds own 83.71% of the company.

Fortinet, Inc. (NASDAQ:FTNT - Get Free Report) has been assigned a consensus rating of "Hold" from the thirty-seven analysts that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $150.9091.

FTNT has been the topic of several analyst reports. HSBC lowered Fortinet from a "hold" rating to a "reduce" rating and set a $102.00 target price on the stock. in a report on Monday, June 29th. HC Wainwright reaffirmed a "buy" rating on shares of Fortinet in a research note on Thursday, July 30th. Truist Financial set a $183.00 price objective on shares of Fortinet and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $185.00 price objective (up from $165.00) on shares of Fortinet in a research note on Thursday, July 30th. Finally, Compass Point set a $100.00 target price on shares of Fortinet in a report on Monday, May 4th.

Fortinet Stock Down 1.4%

NASDAQ FTNT opened at $161.89 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. Fortinet has a 1-year low of $73.55 and a 1-year high of $172.09. The company has a 50 day moving average of $154.14 and a 200-day moving average of $113.59. The company has a market cap of $118.78 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 3.11 and a beta of 1.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. The firm's quarterly revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, equities research analysts expect that Fortinet will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, COO John Whittle sold 146,015 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 3,121 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total value of $507,568.23. Following the completion of the sale, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. This represents a 0.03% 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. In the last 90 days, insiders have sold 475,157 shares of company stock worth $69,480,964. Corporate insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Fortinet

Institutional investors have recently modified their holdings of the business. Physician Wealth Advisors Inc. grew its position in Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker's stock valued at $25,000 after acquiring an additional 245 shares during the last quarter. Dunhill Financial LLC acquired a new position in Fortinet during the second quarter worth about $25,000. Wexford Capital LP bought a new position in shares of Fortinet in the third quarter worth about $25,000. Elyxium Wealth LLC bought a new position in shares of Fortinet in the fourth quarter worth about $27,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 83.71% of the company's stock.

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.

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