Fortinet (NASDAQ:FTNT) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Fortinet (NASDAQ:FTNT) had its price target boosted by stock analysts at Rosenblatt Securities from $185.00 to $195.00 in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 20.41% from the company’s previous close.

A number of other research firms have also recently weighed in on FTNT. Robert W. Baird set a $120.00 target price on shares of Fortinet in a research note on Tuesday, July 21st. Wolfe Research set a $175.00 price target on shares of Fortinet in a research note on Thursday. Arete Research set a $104.00 price target on shares of Fortinet and gave the stock a “buy” rating in a report on Monday, April 27th. BTIG Research upped their price objective on Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Scotiabank raised their price target on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $150.91.

Fortinet Trading Up 5.0%

Shares of Fortinet stock opened at $161.95 on Thursday. The firm has a market cap of $118.65 billion, a PE ratio of 57.02, a P/E/G ratio of 4.17 and a beta of 1.09. Fortinet has a 1 year low of $70.12 and a 1 year high of $170.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.28 and a quick ratio of 1.07. The stock has a fifty day moving average price of $150.50 and a 200-day moving average price of $109.09.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Equities research analysts anticipate that Fortinet will post 2.82 EPS for the current year.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 160,632 shares of Fortinet stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the transaction, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. Corporate insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Elevation Wealth Partners LLC boosted its holdings in Fortinet by 53.6% in the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after purchasing an additional 75 shares during the last quarter. Wexford Capital LP bought a new position in shares of Fortinet during the 3rd quarter valued at $25,000. Physician Wealth Advisors Inc. boosted its stake in shares of Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 245 shares during the last quarter. Palisade Asset Management LLC bought a new stake in shares of Fortinet in the third quarter worth $28,000. Finally, Elyxium Wealth LLC purchased a new stake in Fortinet during the fourth quarter valued at $27,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Strong Q2 results: Fortinet reported earnings of $0.90 per share versus the $0.75 consensus estimate, while revenue rose 25.6% year over year to $2.05 billion, above the $1.89 billion forecast. Product revenue reportedly increased 52%, and billings climbed 33% to $2.37 billion. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Guidance raised: Management lifted its full-year 2026 revenue outlook, signaling confidence that enterprise spending on security will remain strong amid rising data-security incidents. Analysts also highlighted pricing strength and solid execution. Fortinet raises revenue outlook after strong Q2 and new AI product push
• Positive Sentiment: AI and platform momentum: Demand for Fortinet’s AI-security offerings, SASE Firewall, security platforms and operational-technology products is providing additional growth catalysts as companies expand AI infrastructure. FTNT Q2 earnings call highlights SASE Firewall growth
• Positive Sentiment: Analyst target increases: Rosenblatt raised its target to $195 and BTIG raised its target to $203, both with Buy ratings. Citigroup also increased its target to $185, reinforcing the favorable near-term reaction to the earnings report. Analysts boost forecasts following upbeat Q2 earnings
• Neutral Sentiment: Susquehanna raised its target to $160 but retained a Neutral rating, while William Blair maintained a Hold rating, citing questions about how durable Fortinet’s pricing and growth advantages will be.
• Negative Sentiment: Valuation remains a risk after the stock’s substantial multiyear gain. At roughly 57 times earnings, shares may already reflect considerable optimism, leaving less room for disappointment. Fortinet stock seems stretched following its five-year run

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.