Fortinet (NASDAQ:FTNT) Price Target Raised to $186.00 at BTIG Research

Fortinet (NASDAQ:FTNT) had its target price boosted by BTIG Research from $150.00 to $186.00 in a research note issued to investors on Friday morning, MarketBeat reports. BTIG Research currently has a buy rating on the software maker’s stock.

FTNT has been the topic of several other research reports. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Susquehanna lifted their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Rosenblatt Securities upped their price target on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Compass Point set a $100.00 price target on Fortinet in a research note on Monday, May 4th. Finally, Morgan Stanley restated an “underweight” rating and set a $80.00 price objective on shares of Fortinet in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $108.74.

Fortinet Trading Down 3.8%

Shares of NASDAQ:FTNT traded down $6.22 during midday trading on Friday, hitting $157.51. 3,518,279 shares of the stock were exchanged, compared to its average volume of 5,833,056. The stock has a market capitalization of $115.40 billion, a price-to-earnings ratio of 60.81, a P/E/G ratio of 4.45 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The business’s 50-day moving average price is $137.74 and its 200 day moving average price is $100.94. Fortinet has a 12 month low of $70.12 and a 12 month high of $165.28.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $0.58 EPS. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts predict that Fortinet will post 2.8 earnings per share for the current year.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction 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 owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 over the last quarter. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Fortinet

Several large investors have recently modified their holdings of FTNT. Expressive Wealth LLC bought a new stake in shares of Fortinet during the fourth quarter valued at approximately $646,000. Trilogy Capital Inc. grew its position in Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after purchasing an additional 14,076 shares during the period. Leonteq Securities AG acquired a new position in Fortinet during the fourth quarter worth $10,422,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Fortinet in the fourth quarter valued at $14,638,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Fortinet by 156.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after buying an additional 238,299 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.