NASDAQ:FTNT

Fortinet - FTNT Stock Forecast, Price & News

$49.13

-0.50 (-1.01%)

(As of 09/30/2022 09:01 PM ET)

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Today's Range: $49.06
▼
$50.59
50-Day Range: $48.29
▼
$62.88
52-Week Range: $47.37
▼
$74.35

Volume: 4.73 million shs
Average Volume: 6.48 million shs
Market Capitalization: $38.74 billion

P/E Ratio: 60.65
Dividend Yield: N/A
Price Target: $71.96

Fortinet MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.77 Rating Score
Upside/Downside: 46.5% Upside
$71.96 Price Target
Short Interest: Healthy
1.54% of Shares Sold Short
Dividend Strength: N/A
Sustainability: -0.69
Upright™ Environmental Score
News Sentiment: 0.53
Based on 8 Articles This Week
Insider Trading: Selling Shares
$2.84 M Sold Last Quarter
Proj. Earnings Growth: 24.36%
From $0.78 to $0.97 Per Share

Overall MarketRank^™

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

3.09 out of 5 stars

Computer And Technology Sector

36th out of 652 stocks

Computer Peripheral Equipment, Not Elsewhere Classified Industry

1st out of 14 stocks

4.4

Analyst's Opinion

Consensus Rating
Fortinet has received a consensus rating of Buy. The company's average rating score is 2.77, and is based on 17 buy ratings, 5 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $71.96, Fortinet has a forecasted upside of 46.5% from its current price of $49.13.
Amount of Analyst Coverage
Fortinet has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
1.54% of the outstanding shares of Fortinet have been sold short.
Short Interest Ratio / Days to Cover
Fortinet has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Fortinet has recently increased by 33.33%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Fortinet does not currently pay a dividend.
Dividend Growth
Fortinet does not have a long track record of dividend growth.

3.7

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Fortinet has received a 47.64% net impact score from Upright. The largest positive contribution comes from its "Knowledge infrastructure" impact, which is mostly driven by its "VPN software", "Identity management software", "Firewall software", "User authentication software", "Antivirus software", and "Intrusion detection software" products. See details.
Environmental Sustainability
The Environmental Impact score for Fortinet is -0.69.

1.4

News and Social Media Coverage

News Sentiment
Fortinet has a news sentiment score of 0.53. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 8 news articles for Fortinet this week, compared to 9 articles on an average week.
Search Interest
Only 39 people have searched for FTNT on MarketBeat in the last 30 days. This is a decrease of -41% compared to the previous 30 days.
MarketBeat Follows
Only 28 people have added Fortinet to their MarketBeat watchlist in the last 30 days. This is a decrease of -10% compared to the previous 30 days.

3.3

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Fortinet insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $2,839,577.00 in company stock.
Percentage Held by Insiders
18.60% of the stock of Fortinet is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
65.72% of the stock of Fortinet is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.1

Earnings and Valuation

Earnings Growth
Earnings for Fortinet are expected to grow by 24.36% in the coming year, from $0.78 to $0.97 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Fortinet is 60.65, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 111.38.
Price to Earnings Ratio vs. Sector
The P/E ratio of Fortinet is 60.65, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 300.35.
Price to Earnings Growth Ratio
Fortinet has a PEG Ratio of 3.53. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Fortinet has a P/B Ratio of 50.13. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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.

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FTNT Stock News Headlines

September 23, 2022 | marketbeat.com

Will Crowdstrike Get A Boost From Increased EPS Guidance? (FTNT)

Cybersecurity specialist Crowdstrike has been languishing due to interest-rate hikes and the market pullback. Can a higher EPS outlook give it a boost?

October 2, 2022 | americanbankingnews.com

Fortinet (NASDAQ:FTNT) Lowered to Hold at StockNews.com

September 27, 2022 | globenewswire.com

Fortinet Introduces Enhanced AIOps Capabilities Across its SD-WAN, Wired/Wireless, and 5G/LTE Gateway Portfolio - GlobeNewswire

September 19, 2022 | finance.yahoo.com

Liquid Networx Achieves Fortinet’s Engage Preferred Services Partner Designation - Yahoo Finance

September 19, 2022 | businesswire.com

Liquid Networx Achieves Fortinet's Engage Preferred Services Partner Designation - Business Wire

September 18, 2022 | golfweek.usatoday.com

2022 Fortinet Championship prize money payouts for each PGA Tour player at Silverado Resort and Spa - Golfweek

September 17, 2022 | golfweek.usatoday.com

Why Johnny Miller no longer is the face of the Fortinet Championship - Golfweek

September 17, 2022 | golfweek.usatoday.com

2022 Fortinet Championship: President Cup golfers who made, missed the cut in Napa - Golfweek

September 16, 2022 | benzinga.com

Expert Ratings for Fortinet - Fortinet (NASDAQ:FTNT) - Benzinga

September 16, 2022 | finance.yahoo.com

4 Large-Cap Technology Stocks to Diversify Your Portfolio

September 15, 2022 | finance.yahoo.com

Fortinet Named a Leader in the 2022 Gartner® Magic Quadrant™ for SD-WAN for Third Consecutive Year - Yahoo Finance

September 15, 2022 | globenewswire.com

Fortinet Named a Leader in the 2022 Gartner® Magic Quadrant™ for SD-WAN for Third Consecutive Year - GlobeNewswire

September 14, 2022 | golfweek.usatoday.com

For Max Homa, making the Presidents Cup team fulfilled year-long goal - Golfweek

September 14, 2022 | fool.com

Why I Own Fortinet Stock - The Motley Fool

September 14, 2022 | finance.yahoo.com

Why I Own Fortinet Stock

September 14, 2022 | apnews.com

New PGA Tour season starts in California, LIV to Chicago - The Associated Press - en Español

September 13, 2022 | golfweek.usatoday.com

Sergio Garcia ditches BMW PGA, Shane Lowry wins, Fortinet expert picks - Golfweek

September 13, 2022 | finance.yahoo.com

Wall Street Analysts Predict a 27% Upside in Fortinet (FTNT): Here's What You Should Know

September 12, 2022 | businesswire.com

Tufin's CEO Ruvi Kitov to Present Keynote on Securing Connectivity in the Cloud at the Fortinet PGA Championship Security Summit - Business Wire

September 12, 2022 | seekingalpha.com

Fortinet, Inc. (FTNT) Goldman Sachs Communacopia + Technology Conference 2022 Transcript - Seeking Alpha

September 12, 2022 | globenewswire.com

Media Advisory: Fortinet to Host PGA TOUR Canada's Flagship - GlobeNewswire

September 11, 2022 | fool.com

Down Nearly 30% This Year, Is Fortinet Stock a Buy? - The Motley Fool

September 11, 2022 | finance.yahoo.com

Down Nearly 30% This Year, Is Fortinet Stock a Buy?

September 10, 2022 | nasdaq.com

Zacks Industry Outlook Highlights Palo Alto Networks, Fortinet, Check Point Software Technologies and Absolute Software - Nasdaq

September 9, 2022 | stocknews.com

2 Software Stocks to Buy and 1 to Sell This Week

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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FTNT Company Calendar

Last Earnings: 8/03/2022
Today: 10/03/2022
Next Earnings (Estimated): 11/03/2022
Fiscal Year End: 12/31/2022

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Computer peripheral equipment, not elsewhere classified
Sub-Industry: Systems Software
Sector: Computer and Technology
Current Symbol: NASDAQ:FTNT
CUSIP: 34959E10
CIK: 1262039
Web: www.fortinet.com
Phone: (408) 235-7700
Fax: 408-235-7737
Employees: 10,195
Year Founded: 2000

Price Target and Rating

Average Stock Price Forecast: $71.96
High Stock Price Forecast: $85.00
Low Stock Price Forecast: $63.00
Forecasted Upside/Downside: +46.5%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.77
Research Coverage: 22 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.81
Trailing P/E Ratio: 60.65
Forward P/E Ratio: 62.99
P/E Growth: 3.5
Net Income: $606.80 million
Net Margins: 17.66%
Pretax Margin: 17.99%
Return on Equity: 128.66%
Return on Assets: 10.07%

Debt

Debt-to-Equity Ratio: 4.24
Current Ratio: 1.12
Quick Ratio: 1.05

Sales & Book Value

Annual Sales: $3.34 billion
Price / Sales: 11.59
Cash Flow: $0.94 per share
Price / Cash Flow: 52.41
Book Value: $0.98 per share
Price / Book: 50.13

Miscellaneous

Outstanding Shares: 788,521,000
Free Float: 640,279,000
Market Cap: $38.74 billion
Optionable: Optionable
Beta: 1.15

Social Links

Key Executives

Mr. Ken Xie (Age 59)
Founder, Chairman & CEO
Comp: $1.82M

Mr. Michael Xie (Age 53)
Founder, Pres, CTO & Director
Comp: $802.67k

Mr. Keith F. Jensen (Age 63)
CFO & Chief Accounting Officer
Comp: $926.34k

Mr. John Whittle (Age 53)
EVP of Corp. Devel., Chief Legal Officer & Corp. Sec.
Comp: $758.17k

Ms. Ana Pease
VP of Talent Management & Operations

Mr. Peter M. Salkowski
VP of Investor Relations

Mr. John Maddison
Chief Marketing Officer & Exec. VP of Products

Mr. Chris Perna
VP of Talent Acquisition

Mr. Patrice Perche (Age 60)
Exec. VP of Support & Chief Revenue Officer

Pedro Paixao
Pres for Latin America and Gen. Mang. for Latin America

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

FTNT Stock - Frequently Asked Questions

Should I buy or sell Fortinet stock right now?: 22 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last twelve months. There are currently 5 hold ratings and 17 buy ratings for the stock. The consensus among Wall Street 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?: 22 equities research analysts have issued twelve-month price objectives for Fortinet's stock. Their FTNT share price forecasts range from $63.00 to $85.00. On average, they expect the company's stock price to reach $71.96 in the next twelve months. This suggests a possible upside of 46.5% 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 stock has decreased by 31.6% and is now trading at $49.13.
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 Wednesday, August, 3rd. The software maker reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.03. The software maker earned $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Fortinet had a trailing twelve-month return on equity of 128.66% and a net margin of 17.66%.
When did Fortinet's stock split?: Fortinet shares split on Thursday, June 23rd 2022. The 5-1 split was announced on Thursday, June 9th 2022. The newly issued shares were distributed to shareholders after the closing bell 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 guidance of $0.26-$0.28 for the period, compared to the consensus earnings per share 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."
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 $49.13.
How much money does Fortinet make?: Fortinet (NASDAQ:FTNT) has a market capitalization of $38.74 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
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 10/3/2022 by MarketBeat.com Staff

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Fortinet - FTNT Stock Forecast, Price & News

Fortinet MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows