Fortinet (NASDAQ:FTNT) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Fortinet (NASDAQ:FTNT) to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports. Roth Capital also issued estimates for Fortinet’s Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.17 EPS, Q1 2026 earnings at $0.54 EPS, Q2 2026 earnings at $0.59 EPS, Q3 2026 earnings at $0.64 EPS, Q4 2026 earnings at $0.74 EPS and FY2026 earnings at $2.50 EPS.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reaffirmed an “overweight” rating and set a $135.00 price objective (up from $120.00) on shares of Fortinet in a research note on Friday, February 7th. Cantor Fitzgerald boosted their target price on Fortinet from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Rosenblatt Securities increased their price target on shares of Fortinet from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price objective on shares of Fortinet from $103.00 to $115.00 and gave the company a “hold” rating in a report on Friday, February 7th. Finally, UBS Group set a $123.00 price target on shares of Fortinet in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.10.

Fortinet Price Performance

Shares of FTNT stock opened at $97.03 on Tuesday. The firm has a market cap of $74.61 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 4.19 and a beta of 1.09. Fortinet has a 12 month low of $54.57 and a 12 month high of $114.82. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $99.80 and a 200 day moving average price of $95.52.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. Research analysts expect that Fortinet will post 2.09 EPS for the current year.

Insider Activity

In other Fortinet news, CFO Keith Jensen sold 23,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.56, for a total transaction of $2,668,660.00. Following the transaction, the chief financial officer now owns 4,736 shares of the company’s stock, valued at $537,820.16. The trade was a 83.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 326,784 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $98.17, for a total value of $32,080,385.28. Following the completion of the sale, the vice president now directly owns 11,000,068 shares of the company’s stock, valued at approximately $1,079,876,675.56. The trade was a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 576,944 shares of company stock valued at $56,944,064. 18.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Fortinet

A number of large investors have recently added to or reduced their stakes in FTNT. PDS Planning Inc increased its holdings in shares of Fortinet by 7.2% in the first quarter. PDS Planning Inc now owns 3,773 shares of the software maker’s stock valued at $363,000 after purchasing an additional 252 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Fortinet by 4.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 16,393 shares of the software maker’s stock worth $1,578,000 after buying an additional 679 shares during the period. Pure Financial Advisors LLC acquired a new position in Fortinet in the 1st quarter valued at about $236,000. Terra Nova Asset Management LLC raised its holdings in Fortinet by 19.8% in the 1st quarter. Terra Nova Asset Management LLC now owns 13,934 shares of the software maker’s stock valued at $1,341,000 after acquiring an additional 2,300 shares during the period. Finally, Perigon Wealth Management LLC lifted its position in Fortinet by 3.8% during the first quarter. Perigon Wealth Management LLC now owns 14,860 shares of the software maker’s stock worth $1,430,000 after acquiring an additional 538 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

About Fortinet

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.