Fortinet Stock Forecast, Price & News

22 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last twelve months. There are currently 3 sell ratings, 9 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" Fortinet stock. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FTNT, but not buy additional shares or sell existing shares.
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Fortinet saw a increase in short interest in August. As of August 13th, there was short interest totaling 2,160,000 shares, an increase of 14.3% from the July 29th total of 1,890,000 shares. Based on an average daily volume of 895,400 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.6% of the shares of the company are short sold.
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Fortinet is scheduled to release its next quarterly earnings announcement on Thursday, November 4th 2021.
View our earnings forecast for Fortinet.

Fortinet, Inc. (NASDAQ:FTNT) released its earnings results on Thursday, July, 29th. The software maker reported $0.95 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.88 by $0.07. The software maker had revenue of $801.10 million for the quarter, compared to analyst estimates of $741.76 million. Fortinet had a net margin of 17.69% and a trailing twelve-month return on equity of 49.90%. During the same period in the prior year, the firm posted $0.82 EPS.
View Fortinet's earnings history.

Fortinet's stock was trading at $87.95 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization. Since then, FTNT shares have increased by 235.3% and is now trading at $294.86.
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Fortinet issued an update on its third quarter 2021 earnings guidance on Thursday, August, 5th. The company provided earnings per share guidance of $0.900-$0.950 for the period, compared to the Thomson Reuters consensus estimate of $0.950. The company issued revenue guidance of $800 million-$815 million, compared to the consensus revenue estimate of $779.10 million.

22 brokerages have issued 12 month price objectives for Fortinet's stock. Their forecasts range from $104.00 to $350.00. On average, they expect Fortinet's stock price to reach $241.20 in the next year. This suggests that the stock has a possible downside of 18.2%.
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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), Proofpoint (PFPT), C3.ai (AI), Qualys (QLYS), Commvault Systems (CVLT), Progress Software (PRGS) 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.com (CRM), The 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 number of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (9.44%), Price T Rowe Associates Inc. MD (7.06%), BlackRock Inc. (6.72%), State Street Corp (3.22%), Bank of New York Mellon Corp (2.98%) and Alliancebernstein L.P. (2.26%). Company insiders that own Fortinet stock include Christopher B Paisley, John Whittle, Keith Jensen, Kelly Ducourty, Michael Xie and William H Neukom.
View institutional ownership trends for Fortinet.

FTNT stock was sold by a variety of institutional investors in the last quarter, including UBS Asset Management Americas Inc., Renaissance Technologies LLC, Westfield Capital Management Co. LP, Vanguard Group Inc., Alliancebernstein L.P., Clearbridge Investments LLC, Los Angeles Capital Management LLC, and Glenmede Trust Co. NA. Company insiders that have sold Fortinet company stock in the last year include John Whittle, Keith Jensen, Kelly Ducourty, and Michael Xie.
View insider buying and selling activity for Fortinet or view top insider-selling stocks.

FTNT stock was bought by a variety of institutional investors in the last quarter, including Price T Rowe Associates Inc. MD, 1832 Asset Management L.P., Bank of New York Mellon Corp, Amundi, Bank of Montreal Can, Bessemer Group Inc., BlackRock Inc., and Geode Capital Management LLC.
View insider buying and selling activity for Fortinet or or view top insider-buying stocks.

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 $294.86.

Fortinet has a market capitalization of $48.16 billion and generates $2.59 billion in revenue each year. The software maker earns $488.50 million in net income (profit) each year or $2.44 on an earnings per share basis.

Fortinet employs 8,238 workers across the globe.

The following companies are subsidiares of Fortinet: 3Crowd Technologies, AccelOps, Accelops China, Bradford Networks, Bradford Networks Europe Limited, Bradford Networks Inc, Coyote Point Systems, CyberSponse, CyberSponse Federal Inc, CyberSponse Inc, CyberSponse India Private Limited, Fortinet Austria GmbH, Fortinet BV, Fortinet Belgium BV, Fortinet Branch Holding Company, Fortinet Colombia SAS, 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 KK, Fortinet Malaysia SDN BHD, Fortinet Mexico S de RL de CV, Fortinet Network Security Brazil Limitada, Fortinet Networks Mauritius Ltd, Fortinet Networks Romania SRL, Fortinet SARL, Fortinet Security Israel Ltd, Fortinet Security Italy SRL, Fortinet Security Korea Ltd, Fortinet Security LLC, Fortinet Security NZ Limited, Fortinet Security Network (Thailand) Ltd, Fortinet Security Spain SL, Fortinet Singapore Private Limited, Fortinet Technologies (Canada) ULC, Fortinet Technologies India Private Limited, Fortinet Turkey Güvenlik Sistemleri Limited Şirketi, Fortinet UK Ltd, IPLocks, IntruGuard, Meru Networks, OPAQ Networks, PT Fortinet Indonesia Security, Panopta, Secure Element, ShieldX Networks, TalkSwitch, Woven Systems, ZoneFox, ZoneFox Holding Limited, ZoneFox Limited, enSilo, enSilo Inc, enSilo Limited, and enSilo Ltd.

Fortinet was founded in 2000.

The official website for Fortinet is www.fortinet.com.

Fortinet is headquartered at 899 KIFER ROAD, SUNNYVALE CA, 94086.

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