Barclays Boosts Fortinet (NASDAQ:FTNT) Price Target to $170.00

Fortinet (NASDAQ:FTNT) had its target price lifted by equities researchers at Barclays from $155.00 to $170.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays‘s target price would indicate a potential upside of 7.93% from the company’s current price.

A number of other analysts also recently issued reports on FTNT. TD Cowen reissued a “buy” rating on shares of Fortinet in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Piper Sandler boosted their price target on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Citigroup increased their price target on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Arete Research set a $104.00 price objective on Fortinet and gave the stock a “buy” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $109.23.

Fortinet Stock Performance

FTNT opened at $157.51 on Monday. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $165.28. The firm has a market cap of $115.40 billion, a PE ratio of 60.81, a P/E/G ratio of 4.28 and a beta of 1.09. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $137.74 and a 200-day simple moving average of $101.08.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm 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. As a group, equities analysts predict that Fortinet will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 dated 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 sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fortinet

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after acquiring an additional 477,397 shares during the period. Norges Bank bought a new position in shares of Fortinet during the 4th quarter worth $1,152,917,000. Bank of New York Mellon Corp increased its holdings in Fortinet by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after acquiring an additional 893,190 shares during the last quarter. First Trust Advisors LP lifted its holdings in Fortinet by 45.5% during the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after purchasing an additional 3,598,487 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after purchasing an additional 1,568,337 shares during the period. Institutional investors own 83.71% of the company’s stock.

Fortinet Company Profile

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.