Cantor Fitzgerald Raises Earnings Estimates for Fortinet

Fortinet, Inc. (NASDAQ:FTNT) – Equities research analysts at Cantor Fitzgerald upped their FY2025 earnings estimates for Fortinet in a report released on Thursday, November 6th. Cantor Fitzgerald analyst J. Ruykhaver now expects that the software maker will post earnings per share of $2.38 for the year, up from their previous estimate of $2.20. Cantor Fitzgerald has a “Neutral” rating and a $110.00 price target on the stock. The consensus estimate for Fortinet’s current full-year earnings is $2.09 per share. Cantor Fitzgerald also issued estimates for Fortinet’s FY2026 earnings at $2.43 EPS.

FTNT has been the topic of a number of other research reports. Wall Street Zen lowered shares of Fortinet from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Stifel Nicolaus decreased their price objective on shares of Fortinet from $95.00 to $85.00 and set a “hold” rating for the company in a research report on Thursday, August 7th. Truist Financial lowered their target price on Fortinet from $125.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Evercore ISI lowered their price objective on Fortinet from $105.00 to $78.00 and set an “in-line” rating for the company in a research note on Friday, August 8th. Finally, Robert W. Baird dropped their price objective on Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet currently has a consensus rating of “Hold” and an average price target of $92.57.

Fortinet Price Performance

FTNT stock opened at $80.54 on Friday. The firm has a market cap of $61.72 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.24 and a current ratio of 1.33. Fortinet has a 1 year low of $70.12 and a 1 year high of $114.82. The stock has a 50-day simple moving average of $83.10 and a 200-day simple moving average of $93.19.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS.

Hedge Funds Weigh In On Fortinet

Several institutional investors have recently made changes to their positions in FTNT. Saudi Central Bank acquired a new position in Fortinet during the 1st quarter valued at approximately $25,000. LSV Asset Management acquired a new position in shares of Fortinet during the second quarter valued at $25,000. Financial Consulate Inc. bought a new position in shares of Fortinet during the third quarter worth about $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Fortinet in the 3rd quarter worth about $25,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Fortinet in the 1st quarter worth about $28,000. 83.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 3,546 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total transaction of $306,835.38. Following the sale, the vice president directly owned 10,492,018 shares of the company’s stock, valued at approximately $907,874,317.54. This represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ken Xie sold 158,485 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the completion of the transaction, the chief executive officer owned 51,391,879 shares in the company, valued at approximately $4,445,911,452.29. The trade was a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by corporate insiders.

Fortinet Company Profile

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.