Fortinet (NASDAQ:FTNT) Releases Q3 2025 Earnings Guidance

Key Points

• Fortinet has updated its Q3 2025 earnings guidance, projecting earnings per share (EPS) of 0.620-0.640 and revenue of $1.7 billion, slightly above consensus estimates.
• Analysts have revised price targets for Fortinet, with BMO Capital Markets lowering theirs from $110.00 to $90.00, while others maintained or adjusted prices with a general consensus rating of "Hold".
• Shares of Fortinet dropped by 25.8% to $71.69, reflecting significant trading activity with over 16.5 million shares exchanged.

Fortinet (NASDAQ:FTNT - Get Free Report) issued an update on its third quarter 2025 earnings guidance on Thursday morning. The company provided EPS guidance of 0.620-0.640 for the period, compared to the consensus EPS estimate of 0.615. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Fortinet also updated its FY 2025 guidance to 2.470-2.530 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FTNT. Cantor Fitzgerald lifted their target price on shares of Fortinet from $100.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Truist Financial dropped their price target on shares of Fortinet from $125.00 to $95.00 and set a "buy" rating on the stock in a research report on Thursday. Scotiabank cut their price target on shares of Fortinet from $115.00 to $85.00 and set a "sector outperform" rating for the company in a research note on Thursday. TD Cowen reiterated a "hold" rating and issued a $105.00 price target on shares of Fortinet in a research note on Thursday. Finally, Robert W. Baird lifted their price target on shares of Fortinet from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $97.93.

Fortinet Stock Up 0.4%

FTNT stock traded up $0.31 during midday trading on Monday, hitting $74.70. The company's stock had a trading volume of 8,296,788 shares, compared to its average volume of 5,158,225. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.24. Fortinet has a twelve month low of $69.40 and a twelve month high of $114.82. The company's fifty day moving average price is $101.76 and its 200 day moving average price is $101.65. The stock has a market capitalization of $57.18 billion, a P/E ratio of 29.79, a PEG ratio of 2.50 and a beta of 1.07.

Fortinet (NASDAQ:FTNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The company's revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts predict that Fortinet will post 2.09 EPS for the current year.

Insider Buying and Selling

In other Fortinet news, VP Michael Xie sold 476,596 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $98.48, for a total value of $46,935,174.08. Following the transaction, the vice president directly owned 9,730,560 shares in the company, valued at $958,265,548.80. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Neukom bought 335 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average cost of $104.22 per share, for a total transaction of $34,913.70. Following the acquisition, the director directly owned 301,471 shares in the company, valued at $31,419,307.62. This trade represents a 0.11% increase in their position. The disclosure for this purchase can be found here. 18.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Fortinet stock. Bison Wealth LLC purchased a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,194 shares of the software maker's stock, valued at approximately $585,000. Institutional investors and hedge funds own 83.71% of the company's stock.

About Fortinet

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.