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NASDAQ:FTNT

Fortinet - FTNT Stock Forecast, Price & News

$52.52
-1.37 (-2.54%)
(As of 08/11/2022 12:00 AM ET)
Add
Compare
Today's Range
$52.41
$54.87
50-Day Range
$52.19
$278.44
52-Week Range
$48.73
$74.35
Volume
5.49 million shs
Average Volume
6.77 million shs
Market Capitalization
$41.41 billion
P/E Ratio
64.84
Dividend Yield
N/A
Price Target
$72.16

Fortinet MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.75 Rating Score
Upside/​Downside
37.4% Upside
$72.16 Price Target
Short Interest
Healthy
1.28% of Shares Sold Short
Dividend Strength
N/A
Sustainability
-0.69
Upright™ Environmental Score
News Sentiment
0.21mentions of Fortinet in the last 14 days
Based on 41 Articles This Week
Insider Trading
Selling Shares
$3.12 M Sold Last Quarter
Proj. Earnings Growth
23.08%
From $0.78 to $0.96 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.43 out of 5 stars

Computer And Technology Sector

5th out of 658 stocks

Computer Peripheral Equipment, Not Elsewhere Classified Industry

1st out of 14 stocks

FTNT stock logo

About Fortinet (NASDAQ:FTNT) Stock

Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products. It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiToken and FortiAuthenticator product families for multi-factor authentication to safeguard systems, assets, and data; and FortiEDR/XDR, an endpoint protection solution that provides both comprehensive machine-learning anti-malware execution and real-time post-infection protection. It provides security subscription, technical support, professional, and training services. It sells its security solutions to channel partners and directly to various customers in telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare industries. It has strategic alliance with Linksys. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wedbush cut their price objective on shares of Fortinet from $74.00 to $68.00 in a report on Thursday, May 5th. Morgan Stanley decreased their price target on shares of Fortinet to $66.00 and set an "equal weight" rating on the stock in a research report on Monday, June 27th. TheStreet downgraded shares of Fortinet from a "b" rating to a "c+" rating in a research report on Tuesday, May 10th. Barclays decreased their price objective on shares of Fortinet from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Thursday, August 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Fortinet from $60.00 to $63.00 in a research report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $72.16.

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $52.52 on Friday. Fortinet has a 52 week low of $48.73 and a 52 week high of $74.35. The stock has a market capitalization of $41.41 billion, a P/E ratio of 64.84, a PEG ratio of 3.73 and a beta of 1.14. The firm has a fifty day simple moving average of $62.28 and a two-hundred day simple moving average of $61.67. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 4.24.

Insiders Place Their Bets

In other Fortinet news, CFO Keith Jensen sold 7,888 shares of Fortinet stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $284.10, for a total value of $2,240,980.80. Following the completion of the transaction, the chief financial officer now directly owns 883 shares of the company's stock, valued at approximately $250,860.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Keith Jensen sold 7,888 shares of the firm's stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $284.10, for a total value of $2,240,980.80. Following the completion of the sale, the chief financial officer now owns 883 shares in the company, valued at approximately $250,860.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 8,267 shares of the firm's stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $60.64, for a total transaction of $501,310.88. Following the completion of the sale, the vice president now owns 29,772,120 shares of the company's stock, valued at approximately $1,805,381,356.80. The disclosure for this sale can be found here. Insiders sold 17,479 shares of company stock valued at $3,117,553 in the last three months. Corporate insiders own 18.60% of the company's stock.

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FTNT Stock News Headlines

Should You Buy Fortinet After Its Recent Stock Split?
Fortinet (NASDAQ:FTNT) Shares Gap Down on Insider Selling
What Are Whales Doing With Fortinet
What Are Whales Doing With Fortinet - Benzinga
Fortinet, Inc. (NASDAQ:FTNT) VP Michael Xie Sells 8,267 Shares
See More Headlines
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FTNT Company Calendar

Last Earnings
11/04/2021
Today
8/11/2022
Next Earnings (Estimated)
11/03/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Computer peripheral equipment, not elsewhere classified
Sub-Industry
Systems Software
Current Symbol
NASDAQ:FTNT
CUSIP
34959E10
Employees
10,195
Year Founded
2000

Price Target and Rating

Average Stock Price Forecast
$72.16
High Stock Price Forecast
$85.00
Low Stock Price Forecast
$63.00
Forecasted Upside/Downside
+37.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.75
Research Coverage
20 Analysts

Profitability

Net Income
$606.80 million
Pretax Margin
17.99%

Debt

Sales & Book Value

Annual Sales
$3.34 billion
Cash Flow
$0.94 per share
Book Value
($0.48) per share

Miscellaneous

Free Float
641,856,000
Market Cap
$41.41 billion
Optionable
Optionable
Beta
1.14

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FTNT Stock - Frequently Asked Questions

Should I buy or sell Fortinet stock right now?

20 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 5 hold ratings and 15 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" FTNT shares.
View FTNT analyst ratings
or view top-rated stocks.

What is Fortinet's stock price forecast for 2022?

20 Wall Street analysts have issued twelve-month target prices for Fortinet's stock. Their FTNT share price forecasts range from $63.00 to $85.00. On average, they anticipate the company's share price to reach $72.16 in the next year. This suggests a possible upside of 37.4% from the stock's current price.
View analysts price targets for FTNT
or view top-rated stocks among Wall Street analysts.

How have FTNT shares performed in 2022?

Fortinet's stock was trading at $71.88 at the start of the year. Since then, FTNT shares have decreased by 26.9% and is now trading at $52.52.
View the best growth stocks for 2022 here
.

When is Fortinet's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, November 3rd 2022.
View our FTNT earnings forecast
.

How were Fortinet's earnings last quarter?

Fortinet, Inc. (NASDAQ:FTNT) announced its quarterly earnings data on Thursday, November, 4th. The software maker reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The software maker had revenue of $867.20 million for the quarter, compared to analysts' expectations of $812.21 million. Fortinet had a net margin of 17.66% and a trailing twelve-month return on equity of 128.66%. Fortinet's revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS.
Read the conference call transcript
.

When did Fortinet's stock split?

Fortinet shares split before market open on Thursday, June 23rd 2022. The 5-1 split was announced on Thursday, June 9th 2022. The newly minted shares were issued to shareholders after the market closes on Wednesday, June 22nd 2022. An investor that had 100 shares of stock prior to the split would have 500 shares after the split.

What guidance has Fortinet issued on next quarter's earnings?

Fortinet updated its third quarter 2022 earnings guidance on Wednesday, August, 10th. The company provided earnings per share (EPS) guidance of $0.26-$0.28 for the period, compared to the consensus EPS estimate of $0.27. The company issued revenue guidance of $1.10 billion-$1.14 billion, compared to the consensus revenue estimate of $1.12 billion.

What is Ken Xie's approval rating as Fortinet's CEO?

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

What other stocks do shareholders of Fortinet own?

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), Block (SQ), Intel (INTC) and Adobe (ADBE).

What is Fortinet's stock symbol?

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

Who are Fortinet's major shareholders?

Fortinet's stock is owned by a number of institutional and retail investors. Top institutional investors include Pictet Asset Management SA (0.54%), TD Asset Management Inc. (0.50%), Swiss National Bank (0.37%), UBS Group AG (0.36%), Mitsubishi UFJ Trust & Banking Corp (0.33%) and Franklin Resources Inc. (0.31%). Insiders that own company stock include Christopher B Paisley, John Whittle, Keith Jensen, Kelly Ducourty, Ken Xie, Michael Xie and William H Neukom.
View institutional ownership trends
.

How do I buy shares of Fortinet?

Shares of FTNT stock 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.
Compare Top Brokerages Here.

What is Fortinet's stock price today?

One share of FTNT stock can currently be purchased for approximately $52.52.

How much money does Fortinet make?

Fortinet (NASDAQ:FTNT) has a market capitalization of $41.41 billion and generates $3.34 billion in revenue each year. The software maker earns $606.80 million in net income (profit) each year or $0.81 on an earnings per share basis.

How many employees does Fortinet have?

The company employs 10,195 workers across the globe.

Does Fortinet have any subsidiaries?

The following companies are subsidiares of Fortinet: 3Crowd Technologies, AJ Holdings 1 K.K., AJ Holdings 2 K.K., ALAXALA Networks Corporation, AccelOps, Accelops China, Bradford Networks, Coyote Point Systems, CyberSponse, CyberSponse Inc., CyberSponse India Private Limited, Fortinet Austria GmbH, Fortinet BV, Fortinet Belgium BV, Fortinet Branch Holding Company, Fortinet Colombia S.A.S, Fortinet Denmark ApS, Fortinet Federal Inc., Fortinet Finland Oy, Fortinet GmbH, Fortinet Holding LLC, Fortinet Information Technology (Beijing) Co. Ltd., Fortinet International Inc., Fortinet Japan G.K., Fortinet Malaysia SDN. BHD., Fortinet Mexico S. de R.L. de C.V., Fortinet Network Security Brazil Limitada, Fortinet Networks Mauritius Ltd, Fortinet Networks Romania S.R.L., Fortinet Portugal Unipessoal Lda, Fortinet S.A.R.L., Fortinet Security Israel Ltd., Fortinet Security Italy S.R.L., Fortinet Security Korea Ltd., Fortinet Security LLC, Fortinet Security NZ Limited, Fortinet Security Network (Thailand) Ltd., Fortinet Security Philippines Inc., Fortinet Security Spain S.L., Fortinet Singapore Private Limited, Fortinet Switzerland GmbH, Fortinet Technologies (Canada) ULC, Fortinet Technologies India Private Limited, Fortinet Turkey Güvenlik Sistemleri Limited Şirketi, Fortinet UK Ltd., Holdings 1502 Enterprises Ltd., Holdings 1504 Enterprises Inc., IPLocks, IntruGuard, Linksys Cayman LLC, Linksys HK Limited, Linksys Holdings Inc., Linksys PTE LTD, Linksys Trading Shanghai Co. Ltd, Linksys UK Limited, Meru Networks, OPAQ Networks, OPAQ Networks Inc., PT Fortinet Indonesia Security, Panopta, Panopta Holdings LLC, Panopta LLC, Secure Element, ShieldX Networks, Sken.ai, TalkSwitch, Volon Cyber Security Private Limited, Woven Systems, ZoneFox, enSilo, enSilo Inc., and enSilo Ltd..
Read More

When was Fortinet founded?

Fortinet was founded in 2000.

How can I contact Fortinet?

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

This page (NASDAQ:FTNT) was last updated on 8/12/2022 by MarketBeat.com Staff

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