Brokerages Set Fortinet, Inc. (NASDAQ:FTNT) Target Price at $150.91

Fortinet, Inc. (NASDAQ:FTNT) has received a consensus recommendation of “Hold” from the thirty-six analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $150.9091.

FTNT has been the subject of a number of research reports. Stephens set a $115.00 price target on Fortinet and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Mizuho set a $125.00 price objective on Fortinet and gave the stock an “underperform” rating in a research report on Wednesday, July 15th. Wolfe Research set a $175.00 target price on Fortinet in a report on Thursday, July 30th. BTIG Research increased their target price on Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets boosted their price target on Fortinet from $170.00 to $185.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th.

Insider Buying and Selling

In related news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Xie sold 3,121 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares in the company, valued at $1,613,022,886.80. The trade was a 0.03% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 475,157 shares of company stock worth $69,480,964 in the last ninety days. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Fortinet

Several institutional investors have recently modified their holdings of the business. Brighton Jones LLC grew its position in shares of Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares during the last quarter. Bison Wealth LLC acquired a new position in shares of Fortinet in the fourth quarter worth approximately $585,000. HUB Investment Partners LLC lifted its stake in shares of Fortinet by 29.1% in the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after acquiring an additional 1,193 shares during the period. Diversify Advisory Services LLC bought a new stake in Fortinet in the second quarter valued at approximately $1,136,000. Finally, Quantinno Capital Management LP increased its position in Fortinet by 27.4% during the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock valued at $15,328,000 after purchasing an additional 31,202 shares during the period. Institutional investors own 83.71% of the company’s stock.

Fortinet Stock Performance

Shares of Fortinet stock opened at $160.01 on Wednesday. The firm’s 50 day moving average is $155.05 and its 200 day moving average is $115.31. The firm has a market capitalization of $117.40 billion, a PE ratio of 56.34, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07. Fortinet has a 1 year low of $73.55 and a 1 year high of $172.09. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.75 by $0.15. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Equities research analysts forecast that Fortinet will post 3.05 earnings per share for the current fiscal year.

About Fortinet

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.