Fortinet (NASDAQ:FTNT) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its price objective to $100 (from $95) while keeping a "market perform" rating, implying roughly a 15.9% upside from the prior close.
• Analyst consensus is mixed: MarketBeat shows an average rating of "Hold" with a consensus target of $87.92 (1 Strong Buy, 5 Buy, 21 Hold, 4 Sell), which is below BMO's target.
• Company fundamentals show momentum: Fortinet beat quarterly estimates (EPS $0.81 vs $0.74; revenue $1.91B vs $1.86B), reported 14.8% revenue growth year-over-year, and guided FY2026 EPS of $2.94–3.00.

Fortinet (NASDAQ:FTNT - Get Free Report) had its price objective upped by stock analysts at BMO Capital Markets from $95.00 to $100.00 in a research report issued on Monday. The firm presently has a "market perform" rating on the software maker's stock. BMO Capital Markets' price target points to a potential upside of 15.89% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. Freedom Capital downgraded shares of Fortinet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. Truist Financial set a $88.00 target price on shares of Fortinet in a research note on Tuesday, January 20th. Robert W. Baird set a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Cantor Fitzgerald restated a "neutral" rating and set a $87.00 target price on shares of Fortinet in a report on Tuesday, April 21st. Finally, TD Cowen upgraded shares of Fortinet from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-one have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $87.92.

Fortinet Stock Performance

NASDAQ:FTNT opened at $86.29 on Monday. The firm has a 50 day simple moving average of $81.83 and a 200-day simple moving average of $81.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09. The firm has a market cap of $63.17 billion, a PE ratio of 35.51, a P/E/G ratio of 2.96 and a beta of 0.92. Fortinet has a 1-year low of $70.12 and a 1-year high of $109.33.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The company's revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 earnings per share. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, equities analysts expect that Fortinet will post 2.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Fortinet by 4.0% in the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker's stock valued at $6,354,874,000 after purchasing an additional 2,894,355 shares during the period. State Street Corp lifted its position in shares of Fortinet by 1.6% in the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker's stock worth $2,493,860,000 after buying an additional 477,397 shares during the last quarter. Norges Bank bought a new stake in Fortinet in the 4th quarter valued at about $1,152,917,000. Bank of New York Mellon Corp lifted its position in Fortinet by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker's stock valued at $1,151,810,000 after purchasing an additional 893,190 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker's stock valued at $909,453,000 after purchasing an additional 1,568,337 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

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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