Fortinet - FTNT 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 5 hold ratings and 17 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" FTNT shares.
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22 brokers 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 stock price to reach $71.96 in the next year. This suggests a possible upside of 37.0% from the stock's current price.
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Fortinet's stock was trading at $71.88 on January 1st, 2022. Since then, FTNT stock has decreased by 26.9% and is now trading at $52.52.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, November 3rd 2022.
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Fortinet, Inc. (NASDAQ:FTNT) released its quarterly earnings results on Wednesday, August, 3rd. The software maker reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.03. The software maker earned $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. Fortinet had a net margin of 17.66% and a trailing twelve-month return on equity of 128.66%.

Fortinet shares split on the morning of Thursday, June 23rd 2022. The 5-1 split was announced on Thursday, June 9th 2022. The newly issued 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.

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 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.

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.

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).

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 shareholders include Symmetry Partners LLC (0.00%), Fulton Bank N.A. (0.00%) and AdvisorNet Financial Inc (0.00%). Insiders that own company stock include Christopher B Paisley, John Whittle, Keith Jensen, Kelly Ducourty, Michael Xie and William H Neukom.
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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.
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One share of FTNT stock can currently be purchased for approximately $52.52.

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.

The company employs 10,195 workers across the globe.

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.