Fortinet (NASDAQ:FTNT) Stock Lifted to Buy by Wall Street Zen

Wall Street Zen upgraded shares of Fortinet (NASDAQ:FTNT) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also issued reports on FTNT. Barclays set a $190.00 price target on Fortinet and gave the company an “equal weight” rating in a report on Thursday, July 30th. Sanford C. Bernstein restated a “market perform” rating and issued a $145.00 price objective (up from $102.00) on shares of Fortinet in a report on Thursday, September 17th. Morgan Stanley reaffirmed a “positive” rating and set a $136.00 price objective (up from $133.00) on shares of Fortinet in a research report on Thursday, July 30th. William Blair reiterated a “market perform” rating on shares of Fortinet in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Fortinet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus price target of $155.37.

Fortinet Trading Up 3.0%

Fortinet stock opened at $194.75 on Friday. Fortinet has a 12 month low of $73.55 and a 12 month high of $194.95. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The stock has a market cap of $142.89 billion, a P/E ratio of 68.57, a P/E/G ratio of 3.64 and a beta of 1.03. The company’s fifty day simple moving average is $167.26 and its 200-day simple moving average is $139.22.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company earned $0.64 earnings per share. Fortinet’s quarterly revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, sell-side analysts forecast that Fortinet will post 3.10 EPS for the current fiscal year.

Insider Activity at Fortinet

In related news, 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 value of $507,568.23. Following the completion of the sale, the vice president directly owned 9,918,360 shares in the company, valued at approximately $1,613,022,886.80. The trade was a 0.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 53,865 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $165.44, for a total value of $8,911,425.60. Following the sale, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at $16,045,529.28. The trade was a 35.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 221,303 shares of company stock valued at $36,164,034. Corporate insiders own 17.60% of the company’s stock.

Institutional Trading of Fortinet

Several large investors have recently modified their holdings of FTNT. Transamerica Financial Advisors LLC acquired a new stake in shares of Fortinet during the second quarter worth approximately $492,000. QRG Capital Management Inc. raised its stake in shares of Fortinet by 21.4% in the first quarter. QRG Capital Management Inc. now owns 75,491 shares of the software maker’s stock valued at $6,169,000 after acquiring an additional 13,294 shares during the last quarter. Wealth Enhancement Trust Services Inc. boosted its holdings in shares of Fortinet by 83.8% in the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 22,326 shares of the software maker’s stock worth $3,991,000 after acquiring an additional 10,180 shares in the last quarter. Vista Investment Partners LLC boosted its holdings in shares of Fortinet by 53.1% in the 2nd quarter. Vista Investment Partners LLC now owns 49,058 shares of the software maker’s stock worth $7,537,000 after acquiring an additional 17,018 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. grew its position in Fortinet by 2.2% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 340,939 shares of the software maker’s stock worth $27,074,000 after acquiring an additional 7,385 shares during the last quarter. 83.71% of the stock is owned by institutional investors.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Analysts and financial commentators continue to highlight Fortinet as a strong momentum stock. Its recent price performance, favorable earnings trends, and improving investor interest could attract additional momentum-focused buyers. Are You Looking for a Top Momentum Pick? Why Fortinet Is a Great Choice
• Positive Sentiment: Fortinet is being presented as an artificial-intelligence cybersecurity opportunity. Its products can help protect physical AI infrastructure, networks, and cloud applications as businesses increase security spending. Commentators also view its valuation as relatively reasonable compared with some cybersecurity peers. 1 Millionaire-Maker AI Cybersecurity Stock to Buy and Hold
• Positive Sentiment: Comparisons with CrowdStrike and other technology stocks emphasize Fortinet’s strong share-price performance and the potential for further gains if earnings estimates and cybersecurity demand remain favorable. CrowdStrike vs. Fortinet: Which Cybersecurity Stock Is Poised for Higher Highs?
• Neutral Sentiment: Coverage comparing Fortinet with the broader computer and technology sector focuses on relative year-to-date performance rather than a new company-specific catalyst. Are Computer and Technology Stocks Lagging Fortinet This Year?
• Neutral Sentiment: A report described a significant increase in short interest but simultaneously listed short interest at zero shares and a 0.0-day short-interest ratio. That contradictory data appears unreliable and is unlikely to offer a clear trading signal.
• Negative Sentiment: With Fortinet near all-time highs and trading at a premium earnings multiple, the stock may be vulnerable to profit-taking or disappointment if growth slows, valuation concerns increase, or it fails to meet elevated expectations. With Fortinet Stock at All-Time Highs, Here’s What Can Move It Up or Down

Fortinet Company Profile

Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.

Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.

Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.