Brokerages Set Fortinet, Inc. (NASDAQ:FTNT) Target Price at $102.69

Fortinet, Inc. (NASDAQ:FTNT) has earned an average rating of “Hold” from the thirty-five ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, twenty-four have assigned a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $102.6897.

A number of research analysts have weighed in on FTNT shares. JPMorgan Chase & Co. lifted their price target on shares of Fortinet from $73.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Weiss Ratings cut shares of Fortinet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. DZ Bank cut shares of Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, May 19th. Rosenblatt Securities lifted their price target on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus set a $85.00 price target on shares of Fortinet in a research report on Wednesday, March 11th.

Insider Buying and Selling at Fortinet

In other Fortinet news, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total transaction of $476,059.50. Following the transaction, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at $4,709,744,555.60. The trade was a 0.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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. Also, COO John Whittle sold 146,015 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the transaction, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 153,848 shares of company stock valued at $19,446,115 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FTNT. Norges Bank acquired a new position in shares of Fortinet during the fourth quarter worth $1,152,917,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Fortinet by 87.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after purchasing an additional 4,500,194 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after purchasing an additional 3,598,487 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Fortinet by 38.9% during the fourth quarter. Van ECK Associates Corp now owns 7,730,954 shares of the software maker’s stock worth $613,915,000 after purchasing an additional 2,166,396 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet Trading Up 1.2%

Shares of FTNT stock opened at $148.86 on Friday. The stock has a market cap of $109.06 billion, a price-to-earnings ratio of 57.48, a price-to-earnings-growth ratio of 4.05 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $149.03. The firm’s 50 day moving average price is $98.25 and its two-hundred day moving average price is $87.10.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. Fortinet’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, analysts anticipate that Fortinet will post 2.77 EPS for the current 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.