Fortinet - FTNT Stock Forecast, Price & News

21 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last twelve months. There are currently 4 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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21 analysts have issued 1 year price targets for Fortinet's stock. Their FTNT share price forecasts range from $57.00 to $78.00. On average, they anticipate the company's stock price to reach $67.61 in the next twelve months. This suggests a possible upside of 27.2% 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 shares have decreased by 26.0% and is now trading at $53.16.
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Fortinet saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 10,360,000 shares, an increase of 19.2% from the October 31st total of 8,690,000 shares. Based on an average daily trading volume, of 5,530,000 shares, the short-interest ratio is currently 1.9 days.
View Fortinet's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, February 2nd 2023.
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Fortinet, Inc. (NASDAQ:FTNT) announced its quarterly earnings results on Wednesday, November, 2nd. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. The software maker earned $1.15 billion during the quarter, compared to analysts' expectations of $1.12 billion. Fortinet had a trailing twelve-month return on equity of 9,183.04% and a net margin of 18.12%. The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share.
Read the conference call transcript.

Fortinet's stock split 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.

Fortinet issued an update on its fourth quarter 2022 earnings guidance on Wednesday, November, 9th. The company provided earnings per share guidance of $0.38-$0.40 for the period, compared to the consensus earnings per share estimate of $0.35. The company issued revenue guidance of $1.27 billion-$1.31 billion, compared to the consensus revenue estimate of $1.27 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 variety of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (8.59%), BlackRock Inc. (6.62%), State Street Corp (3.27%), Alliancebernstein L.P. (2.96%), Price T Rowe Associates Inc. MD (2.78%) and Bank of New York Mellon Corp (2.64%). Insiders that own company stock include Christopher B Paisley, John Whittle, Keith Jensen, Kelly Ducourty, Michael Xie and William H Neukom.
View institutional ownership trends.

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 $53.16.

Fortinet (NASDAQ:FTNT) has a market capitalization of $41.53 billion and generates $3.34 billion in revenue each year. The software maker earns $606.80 million in net income (profit) each year or $0.9060 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.