Fortinet (NASDAQ:FTNT) Issues Earnings Results

Fortinet (NASDAQ:FTNT) released its quarterly earnings results on Thursday. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07, Zacks reports. Fortinet had a return on equity of 973.30% and a net margin of 26.79%. Fortinet updated its Q1 2025 guidance to 0.520-0.540 EPS and its FY 2025 guidance to 2.410-2.470 EPS.

Fortinet Price Performance

NASDAQ:FTNT traded down $0.35 during trading hours on Thursday, reaching $104.72. The stock had a trading volume of 6,512,466 shares, compared to its average volume of 4,155,724. The company has a 50 day moving average price of $96.92 and a two-hundred day moving average price of $84.07. Fortinet has a 52 week low of $54.57 and a 52 week high of $105.82. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34. The stock has a market capitalization of $80.26 billion, a PE ratio of 52.89, a PEG ratio of 2.65 and a beta of 1.01.

Analyst Ratings Changes

FTNT has been the topic of several research reports. UBS Group raised their target price on Fortinet from $70.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group boosted their target price on shares of Fortinet from $100.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. Barclays increased their price target on shares of Fortinet from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. StockNews.com raised shares of Fortinet from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Fortinet in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus target price of $97.73.

Insider Activity at Fortinet

In related news, Director William H. Neukom bought 355 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the acquisition, the director now owns 150,245 shares in the company, valued at $14,799,132.50. This trade represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ken Xie sold 23,044 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $93.32, for a total transaction of $2,150,466.08. Following the completion of the sale, the chief executive officer now directly owns 49,039,698 shares in the company, valued at approximately $4,576,384,617.36. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,860 shares of company stock valued at $6,469,056. 18.00% of the stock is owned by corporate insiders.

About Fortinet

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.