Fortinet (NASDAQ:FTNT) Reaches New 52-Week High - Should You Buy?

Key Points

• Fortinet hit a new 52-week high, trading as high as $150.88 and last near $151.18, up about 2.8% on the day. The move comes as the stock continues to trade well above its 50-day and 200-day averages.
• Recent earnings were stronger than expected, with Fortinet reporting $0.82 EPS versus the $0.62 estimate and revenue of $1.85 billion versus $1.73 billion expected. Revenue rose 20.1% year over year, and the company issued Q2 and full-year 2026 guidance above current analyst expectations.
• Wall Street remains cautious overall despite the rally, with the consensus analyst rating at “Hold” and an average price target of $107.77. Several insiders also sold shares recently, including VP Michael Xie and COO John Whittle, though institutional ownership remains high at 83.71%.

Fortinet, Inc. (NASDAQ:FTNT - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $150.88 and last traded at $151.1770, with a volume of 1384399 shares changing hands. The stock had previously closed at $145.28.

Wall Street Analysts Forecast Growth

FTNT has been the subject of a number of research reports. Arete Research set a $104.00 target price on shares of Fortinet and gave the company a "buy" rating in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $100.00 price objective on shares of Fortinet in a report on Thursday, May 7th. UBS Group increased their target price on Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. DZ Bank downgraded Fortinet from a "buy" rating to a "hold" rating and set a $125.00 price target for the company. in a research note on Tuesday, May 19th. Finally, Piper Sandler upped their price target on shares of Fortinet from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Fortinet presently has an average rating of "Hold" and an average price target of $107.77.

Fortinet Trading Up 2.8%

The company has a market capitalization of $109.42 billion, a P/E ratio of 57.73, a PEG ratio of 4.05 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The stock has a fifty day moving average of $120.17 and a 200 day moving average of $94.77.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.Fortinet's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company 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 anticipate that Fortinet, Inc. will post 2.78 EPS for the current fiscal year.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 3,907 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares of the company's stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 firm's stock in a transaction that occurred 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 sale, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FTNT. Florida Financial Advisors LLC lifted its position in shares of Fortinet by 3.0% in the first quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker's stock valued at $309,000 after acquiring an additional 109 shares in the last quarter. Optimist Retirement Group LLC grew its position in shares of 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 raised its stake in Fortinet by 3.1% during 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 during the period. GW&K Investment Management LLC lifted 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 worth $41,000 after purchasing an additional 123 shares in the last quarter. Finally, Delta Investment Management LLC lifted its holdings in Fortinet by 2.4% in 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 in the last quarter. Institutional investors 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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