Fortinet (FTNT) Expected to Announce Quarterly Earnings on Wednesday

by · The Cerbat Gem

Fortinet (NASDAQ:FTNT – Get Free Report) will likely be releasing its Q1 2025 earnings data after the market closes on Wednesday, May 7th. Analysts expect Fortinet to post earnings of $0.53 per share and revenue of $1.54 billion for the quarter. Fortinet has set its Q1 2025 guidance at 0.520-0.540 EPS and its FY 2025 guidance at 2.410-2.470 EPS.

Fortinet (NASDAQ:FTNT – Get Free Report) last issued its earnings results on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. On average, analysts expect Fortinet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortinet Trading Up 2.4 %

Shares of NASDAQ FTNT opened at $108.69 on Tuesday. Fortinet has a 12-month low of $54.57 and a 12-month high of $114.82. The company has a market cap of $83.12 billion, a price-to-earnings ratio of 48.09, a price-to-earnings-growth ratio of 4.19 and a beta of 1.16. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The stock’s 50 day simple moving average is $98.64 and its 200 day simple moving average is $97.01.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FTNT shares. Stephens initiated coverage on shares of Fortinet in a report on Tuesday, April 1st. They set an “equal weight” rating and a $108.00 price target for the company. Roth Capital set a $103.00 target price on shares of Fortinet and gave the company a “neutral” rating in a research note on Tuesday, April 22nd. Jefferies Financial Group dropped their price target on shares of Fortinet from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus boosted their price objective on Fortinet from $103.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Finally, Morgan Stanley lowered their target price on Fortinet from $123.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $106.03.

Get Our Latest Report on FTNT

Insider Activity

In other Fortinet news, VP Michael Xie sold 326,784 shares of Fortinet stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $98.17, for a total transaction of $32,080,385.28. Following the completion of the sale, the vice president now owns 11,000,068 shares of the company’s stock, valued at $1,079,876,675.56. This trade represents a 2.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Keith Jensen sold 23,500 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.56, for a total transaction of $2,668,660.00. Following the transaction, the chief financial officer now owns 4,736 shares in the company, valued at approximately $537,820.16. This represents a 83.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 738,978 shares of company stock worth $74,135,907. 18.00% of the stock is owned by corporate insiders.

Institutional Trading of Fortinet

An institutional investor recently raised its position in Fortinet stock. Brighton Jones LLC raised its position in shares of Fortinet, Inc. (NASDAQ:FTNT – Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,327 shares of the software maker’s stock after purchasing an additional 221 shares during the period. Brighton Jones LLC’s holdings in Fortinet were worth $976,000 as of its most recent SEC filing. 83.71% of the stock is owned by hedge funds and other institutional investors.

About Fortinet

(Get Free Report)

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.

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