Investment Analysts’ Weekly Ratings Updates for Fortinet (FTNT)

Several brokerages have updated their recommendations and price targets on shares of Fortinet (NASDAQ: FTNT) in the last few weeks:

• 2/10/2025 – Fortinet had its price target raised by analysts at Susquehanna from $90.00 to $110.00. They now have a “neutral” rating on the stock.
• 2/7/2025 – Fortinet had its price target raised by analysts at Royal Bank of Canada from $97.00 to $115.00. They now have a “sector perform” rating on the stock.
• 2/7/2025 – Fortinet had its price target raised by analysts at Scotiabank from $115.00 to $135.00. They now have a “sector outperform” rating on the stock.
• 2/7/2025 – Fortinet had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $135.00 price target on the stock, up previously from $120.00.
• 2/7/2025 – Fortinet had its “neutral” rating reaffirmed by analysts at Guggenheim.
• 2/7/2025 – Fortinet had its price target raised by analysts at Stifel Nicolaus from $103.00 to $115.00. They now have a “hold” rating on the stock.
• 2/7/2025 – Fortinet had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 2/7/2025 – Fortinet had its price target raised by analysts at Wells Fargo & Company from $85.00 to $105.00. They now have an “equal weight” rating on the stock.
• 2/7/2025 – Fortinet had its price target raised by analysts at The Goldman Sachs Group, Inc. from $114.00 to $130.00. They now have a “buy” rating on the stock.
• 2/7/2025 – Fortinet had its price target raised by analysts at Rosenblatt Securities from $115.00 to $125.00. They now have a “buy” rating on the stock.
• 2/4/2025 – Fortinet had its price target raised by analysts at Cantor Fitzgerald from $95.00 to $110.00. They now have a “neutral” rating on the stock.
• 2/3/2025 – Fortinet had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $112.00 price target on the stock, up previously from $105.00.
• 2/3/2025 – Fortinet was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating.
• 1/24/2025 – Fortinet had its “neutral” rating reaffirmed by analysts at Guggenheim.
• 1/21/2025 – Fortinet had its price target raised by analysts at Scotiabank from $110.00 to $115.00. They now have a “sector outperform” rating on the stock.
• 1/21/2025 – Fortinet had its price target raised by analysts at Rosenblatt Securities from $100.00 to $115.00. They now have a “buy” rating on the stock.
• 1/17/2025 – Fortinet had its price target raised by analysts at Citigroup Inc. from $100.00 to $101.00. They now have a “neutral” rating on the stock.
• 1/14/2025 – Fortinet had its “market perform” rating reaffirmed by analysts at Raymond James.
• 1/6/2025 – Fortinet was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $120.00 price target on the stock, up previously from $100.00.
• 1/2/2025 – Fortinet had its price target raised by analysts at The Goldman Sachs Group, Inc. from $100.00 to $114.00. They now have a “buy” rating on the stock.

Fortinet Trading Down 0.3 %

NASDAQ FTNT opened at $114.19 on Friday. Fortinet, Inc. has a one year low of $54.57 and a one year high of $114.82. The company’s 50 day moving average price is $99.88 and its 200 day moving average price is $87.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.47. The firm has a market capitalization of $87.52 billion, a price-to-earnings ratio of 50.53, a PEG ratio of 4.20 and a beta of 1.01.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. On average, sell-side analysts predict that Fortinet, Inc. will post 2.09 EPS for the current year.

Insider Buying and Selling

In related news, CFO Keith Jensen sold 17,650 shares of Fortinet stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.66, for a total value of $1,688,399.00. Following the completion of the sale, the chief financial officer now owns 4,689 shares in the company, valued at approximately $448,549.74. The trade was a 79.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Neukom purchased 355 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average price of $98.50 per share, with a total value of $34,967.50. Following the purchase, the director now owns 150,245 shares of the company’s stock, valued at approximately $14,799,132.50. The trade was a 0.24 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 87,110 shares of company stock worth $8,751,689. Insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Fortinet

A number of hedge funds have recently added to or reduced their stakes in FTNT. Norges Bank acquired a new position in shares of Fortinet during the fourth quarter valued at $724,048,000. Schroder Investment Management Group acquired a new position in shares of Fortinet during the fourth quarter valued at $389,867,000. FMR LLC boosted its holdings in shares of Fortinet by 77.2% during the fourth quarter. FMR LLC now owns 6,531,705 shares of the software maker’s stock valued at $617,115,000 after acquiring an additional 2,846,475 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Fortinet by 39.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,622,253 shares of the software maker’s stock valued at $720,150,000 after acquiring an additional 2,151,811 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Fortinet by 72.6% during the fourth quarter. Bessemer Group Inc. now owns 4,906,439 shares of the software maker’s stock valued at $463,561,000 after acquiring an additional 2,064,016 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.