Fortinet (NASDAQ:FTNT) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Fortinet (NASDAQ:FTNT – Free Report) from a hold rating to a buy rating in a research note released on Saturday.

Other equities research analysts have also recently issued reports about the company. Susquehanna raised their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Arete Research set a $104.00 price objective on Fortinet and gave the stock a “buy” rating in a research note on Monday, April 27th. Truist Financial set a $120.00 target price on Fortinet and gave the stock a “buy” rating in a report on Thursday, May 7th. Robert W. Baird set a $115.00 target price on Fortinet in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $100.00 price target on shares of Fortinet in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-three have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet presently has an average rating of “Hold” and an average target price of $115.58.

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Fortinet Price Performance

NASDAQ:FTNT opened at $160.36 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The firm has a market cap of $117.49 billion, a PE ratio of 61.92, a price-to-earnings-growth ratio of 4.39 and a beta of 1.09. Fortinet has a 12 month low of $70.12 and a 12 month high of $170.35. The company’s 50-day moving average price is $145.20 and its two-hundred day moving average price is $104.52.

Fortinet (NASDAQ:FTNT – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, equities analysts anticipate that Fortinet will post 2.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,907 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FTNT. Elevation Wealth Partners LLC grew its position in shares of Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after buying an additional 75 shares during the period. Wexford Capital LP bought a new position in Fortinet in the third quarter valued at approximately $25,000. Physician Wealth Advisors Inc. boosted its stake in Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in Fortinet during the 3rd quarter worth $28,000. Finally, Elyxium Wealth LLC acquired a new stake in Fortinet during the 4th quarter worth $27,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Fortinet Company Profile

(Get Free Report)

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.

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