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

Fortinet (NASDAQ:FTNT) had its price objective upped by investment analysts at BTIG Research from $150.00 to $186.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. BTIG Research’s target price would suggest a potential upside of 13.60% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Bank of America upped their target price on Fortinet from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Rosenblatt Securities lifted their price target on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Susquehanna boosted their price objective on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Stephens set a $115.00 price objective on shares of Fortinet and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $108.74.

Fortinet Price Performance

NASDAQ FTNT opened at $163.73 on Friday. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $164.01. The stock’s 50-day moving average is $136.31 and its two-hundred day moving average is $100.55. The firm has a market cap of $119.96 billion, a P/E ratio of 63.22, a price-to-earnings-growth ratio of 4.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, analysts anticipate that Fortinet will post 2.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, the chief operating officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. The trade was a 0.04% decrease in their position. 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 valued at $43,403,063 in the last three months. Company insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Elevation Wealth Partners LLC raised its holdings in Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after acquiring an additional 75 shares in the last quarter. Wexford Capital LP bought a new position in shares of Fortinet in the third quarter valued at approximately $25,000. Physician Wealth Advisors Inc. raised its position in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares during the last quarter. Palisade Asset Management LLC bought a new position in shares of Fortinet in the third quarter valued at about $28,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Fortinet during the fourth quarter worth approximately $27,000. Institutional investors 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.