Fortinet (NASDAQ:FTNT) Upgraded to Hold at Roth Capital

Fortinet (NASDAQ:FTNT - Get Free Report) was upgraded by research analysts at Roth Capital to a "hold" rating in a note issued to investors on Tuesday, April 22nd, Marketbeat reports. Roth Capital also issued estimates for Fortinet's Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.17 EPS, Q1 2026 earnings at $0.54 EPS, Q2 2026 earnings at $0.59 EPS, Q3 2026 earnings at $0.64 EPS, Q4 2026 earnings at $0.74 EPS and FY2026 earnings at $2.50 EPS.

Several other equities analysts have also recently weighed in on FTNT. Robert W. Baird restated a "neutral" rating and set a $112.00 price target (up previously from $105.00) on shares of Fortinet in a report on Monday, February 3rd. Stifel Nicolaus lifted their target price on Fortinet from $103.00 to $115.00 and gave the stock a "hold" rating in a report on Friday, February 7th. The Goldman Sachs Group lifted their target price on Fortinet from $114.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Needham & Company LLC reiterated a "hold" rating on shares of Fortinet in a report on Friday, February 7th. Finally, StockNews.com lowered Fortinet from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, eleven have assigned a buy rating and two have given 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.

Fortinet Stock Performance

Shares of NASDAQ FTNT traded up $0.75 during trading on Tuesday, hitting $103.39. The company had a trading volume of 943,011 shares, compared to its average volume of 5,064,357. The stock has a 50 day simple moving average of $99.09 and a 200 day simple moving average of $96.18. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. Fortinet has a 12 month low of $54.57 and a 12 month high of $114.82. The firm has a market capitalization of $79.50 billion, a P/E ratio of 45.83, a price-to-earnings-growth ratio of 4.19 and a beta of 1.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 EPS 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%. As a group, analysts anticipate that Fortinet will post 2.09 earnings per share for the current year.

Insider Transactions at Fortinet

In other Fortinet news, Director William H. Neukom bought 328 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $106.33 per share, with a total value of $34,876.24. Following the completion of the acquisition, the director now directly owns 300,006 shares of the company's stock, valued at $31,899,637.98. This represents a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth A. Goldman sold 2,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now owns 18,612 shares of the company's stock, valued at approximately $1,861,200. The trade was a 9.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 576,944 shares of company stock valued at $56,944,064 in the last 90 days. 18.00% of the stock is currently owned by company insiders.

Institutional Trading of Fortinet

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Fortinet by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 68,115,470 shares of the software maker's stock valued at $6,435,550,000 after purchasing an additional 730,994 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Fortinet by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 15,270,913 shares of the software maker's stock worth $1,440,648,000 after purchasing an additional 387,901 shares during the last quarter. Invesco Ltd. lifted its position in shares of Fortinet by 31.3% during the 4th quarter. Invesco Ltd. now owns 8,388,693 shares of the software maker's stock worth $792,564,000 after purchasing an additional 2,000,888 shares during the last quarter. Norges Bank purchased a new stake in shares of Fortinet during the 4th quarter worth $724,048,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Fortinet by 39.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,622,253 shares of the software maker's stock worth $720,150,000 after acquiring an additional 2,151,811 shares in the last quarter. 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.