Fortinet (NASDAQ:FTNT) Updates Q4 2025 Earnings Guidance

Fortinet (NASDAQ:FTNT) updated its fourth quarter 2025 earnings guidance on Wednesday. The company provided EPS guidance of 0.730-0.750 for the period, compared to the consensus EPS estimate of 0.630. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $1.9 billion. Fortinet also updated its FY 2025 guidance to 2.660-2.700 EPS.

Analyst Ratings Changes

Several research analysts have commented on FTNT shares. BMO Capital Markets cut their price target on shares of Fortinet from $110.00 to $90.00 and set a “market perform” rating for the company in a report on Thursday, August 7th. Rosenblatt Securities reissued a “neutral” rating and issued a $85.00 target price on shares of Fortinet in a research report on Thursday. Cowen lowered Fortinet from a “buy” rating to a “hold” rating in a research note on Thursday, August 7th. Stifel Nicolaus cut their price target on Fortinet from $95.00 to $85.00 and set a “hold” rating for the company in a report on Thursday, August 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $67.00 price objective (down from $78.00) on shares of Fortinet in a research note on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $92.57.

Fortinet Trading Up 1.6%

Shares of FTNT traded up $1.25 during midday trading on Friday, reaching $81.79. The company had a trading volume of 7,147,823 shares, compared to its average volume of 5,602,864. The company has a quick ratio of 1.24, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. The firm has a 50 day simple moving average of $83.10 and a 200-day simple moving average of $93.19. Fortinet has a 1-year low of $70.12 and a 1-year high of $114.82. The stock has a market cap of $62.67 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. Fortinet had a return on equity of 111.46% and a net margin of 30.60%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned $0.63 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS. Q4 2025 guidance at 0.730-0.750 EPS. Research analysts forecast that Fortinet will post 2.09 EPS for the current fiscal year.

Insider Activity

In other news, VP Michael Xie sold 3,546 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the sale, the vice president owned 10,492,018 shares in the company, valued at approximately $907,874,317.54. This represents a 0.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ken Xie sold 158,485 shares of the company’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 of the company’s stock, valued at approximately $4,445,911,452.29. This trade represents a 0.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Fortinet

A number of hedge funds have recently modified their holdings of FTNT. Brighton Jones LLC raised its holdings in shares of Fortinet by 2.2% in the fourth 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. Great Valley Advisor Group Inc. boosted its position in Fortinet by 8.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,231 shares of the software maker’s stock valued at $659,000 after buying an additional 486 shares during the last quarter. State of Tennessee Department of Treasury increased its stake in shares of Fortinet by 0.4% in the 2nd quarter. State of Tennessee Department of Treasury now owns 223,762 shares of the software maker’s stock valued at $23,656,000 after buying an additional 895 shares during the period. ICONIQ Capital LLC lifted its stake in shares of Fortinet by 29.5% during the second quarter. ICONIQ Capital LLC now owns 5,085 shares of the software maker’s stock valued at $538,000 after acquiring an additional 1,159 shares during the period. Finally, HUB Investment Partners LLC raised its holdings in Fortinet by 29.1% during the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock worth $560,000 after purchasing an additional 1,193 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

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.