Fortinet Stock Forecast, Price & News

22 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 8 hold ratings and 14 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" Fortinet stock.
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22 brokerages have issued twelve-month price objectives for Fortinet's shares. Their FTNT stock forecasts range from $53.00 to $85.00. On average, they expect Fortinet's stock price to reach $71.66 in the next twelve months. This suggests a possible upside of 21.2% from the stock's current price.
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Fortinet's stock was trading at $71.88 at the start of the year. Since then, FTNT stock has decreased by 17.7% and is now trading at $59.13.
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Fortinet is scheduled to release its next quarterly earnings announcement on Thursday, August 4th 2022.
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Fortinet, Inc. (NASDAQ:FTNT) released its quarterly earnings results on Wednesday, May, 4th. The software maker reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.07. The software maker earned $954.80 million during the quarter, compared to the consensus estimate of $886.45 million. Fortinet had a trailing twelve-month return on equity of 67.94% and a net margin of 17.79%. The firm's revenue for the quarter was up 34.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS.
View Fortinet's earnings history.

Shares of Fortinet split on Thursday, June 23rd 2022. The 5-1 split was announced on Thursday, June 9th 2022. The newly created shares were payable to shareholders after the closing bell on Wednesday, June 22nd 2022. An investor that had 100 shares of Fortinet stock prior to the split would have 500 shares after the split.

Fortinet updated its second quarter 2022 earnings guidance on Monday, May, 9th. The company provided earnings per share (EPS) guidance of $1.05-$1.10 for the period, compared to the consensus estimate of $1.13. The company issued revenue guidance of $1.00 billion-$1.03 billion, compared to the consensus revenue estimate of $1.01 billion.

640 employees have rated Fortinet CEO Ken Xie on Glassdoor.com. Ken Xie has an approval rating of 95% among Fortinet's employees. This puts Ken Xie in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Some companies that are related to Fortinet include Microsoft (MSFT), Oracle (ORCL), ServiceNow (NOW), VMware (VMW), Axon Enterprise (AXON), Qualys (QLYS), Commvault Systems (CVLT), Progress Software (PRGS), C3.ai (AI) and FalconStor Software (FALC).
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Based on aggregate information from My MarketBeat watchlists, some companies that other Fortinet investors own include NVIDIA (NVDA), Alibaba Group (BABA), PayPal (PYPL), Salesforce (CRM), Walt Disney (DIS), Mastercard (MA), Netflix (NFLX), Square (SQ), Intel (INTC) and Adobe (ADBE).

Fortinet trades on the NASDAQ under the ticker symbol "FTNT."

Fortinet's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (8.47%), BlackRock Inc. (7.21%), State Street Corp (3.35%), Bank of New York Mellon Corp (2.74%), Northern Trust Corp (0.91%) and Invesco Ltd. (0.83%). Company insiders that own Fortinet stock include Christopher B Paisley, John Whittle, Keith Jensen, Kelly Ducourty, Ken Xie, Michael Xie and William H Neukom.
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FTNT stock was sold by a variety of institutional investors in the last quarter, including Vanguard Group Inc., Invesco Ltd., Mitsubishi UFJ Trust & Banking Corp, Assenagon Asset Management S.A., Federated Hermes Inc., State Street Corp, Bank of New York Mellon Corp, and Personal Capital Advisors Corp. Company insiders that have sold Fortinet company stock in the last two years include Christopher B Paisley, John Whittle, Keith Jensen, Kelly Ducourty, and Michael Xie.
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FTNT stock was acquired by a variety of institutional investors in the last quarter, including Twin Tree Management LP, Arrowstreet Capital Limited Partnership, Neuberger Berman Group LLC, Lord Abbett & CO. LLC, Bank of Montreal Can, Wedge Capital Management L L P NC, Prudential Financial Inc., and Ergoteles LLC.
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Shares of FTNT can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of FTNT stock can currently be purchased for approximately $59.13.

Fortinet (NASDAQ:FTNT) has a market capitalization of $47.46 billion and generates $3.34 billion in revenue each year. The software maker earns $606.80 million in net income (profit) each year or $0.7640 on an earnings per share basis.

Fortinet employs 10,195 workers across the globe.

Fortinet was founded in 2000.

Fortinet's mailing address is 899 KIFER ROAD, SUNNYVALE CA, 94086. The official website for Fortinet is www.fortinet.com. The software maker can be reached via phone at (408) 235-7700, via email at [email protected], or via fax at 408-235-7737.