Fortinet, Inc. (NASDAQ:FTNT – Free Report) – Stock analysts at Cantor Fitzgerald issued their FY2025 earnings per share estimates for Fortinet in a research note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst J. Ruykhaver expects that the software maker will post earnings per share of $2.20 for the year. Cantor Fitzgerald currently has a “Neutral” rating and a $95.00 target price on the stock. The consensus estimate for Fortinet’s current full-year earnings is $1.95 per share.
A number of other research analysts have also recently weighed in on FTNT. Piper Sandler upgraded Fortinet from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $100.00 to $120.00 in a report on Monday, January 6th. Morgan Stanley lifted their target price on Fortinet from $105.00 to $106.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Jefferies Financial Group lifted their target price on Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Bank of America lifted their target price on Fortinet from $87.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Rosenblatt Securities lifted their target price on Fortinet from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Fortinet currently has a consensus rating of “Hold” and an average price target of $96.33.
Fortinet Price Performance
FTNT stock opened at $98.24 on Wednesday. Fortinet has a 52-week low of $54.57 and a 52-week high of $101.00. The stock has a market capitalization of $75.30 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 2.49 and a beta of 1.00. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $95.59 and its 200-day simple moving average is $81.22.
Fortinet (NASDAQ:FTNT – Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The software maker reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.13. Fortinet had a return on equity of 973.30% and a net margin of 26.79%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm earned $0.35 earnings per share.
Institutional Investors Weigh In On Fortinet
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in Fortinet during the third quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new stake in Fortinet during the third quarter worth approximately $26,000. Private Wealth Management Group LLC raised its holdings in Fortinet by 73.3% during the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock worth $32,000 after purchasing an additional 173 shares in the last quarter. City State Bank increased its holdings in shares of Fortinet by 900.0% in the third quarter. City State Bank now owns 500 shares of the software maker’s stock valued at $39,000 after buying an additional 450 shares in the last quarter. Finally, Paladin Wealth LLC bought a new position in shares of Fortinet in the third quarter valued at $46,000. Institutional investors own 83.71% of the company’s stock.
Insider Activity at Fortinet
In other Fortinet news, CEO Ken Xie sold 22,916 shares of Fortinet stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $97.93, for a total value of $2,244,163.88. Following the completion of the transaction, the chief executive officer now directly owns 48,983,683 shares in the company, valued at $4,796,972,076.19. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William H. Neukom bought 355 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was bought at an average price of $98.50 per share, with a total value of $34,967.50. Following the completion of the purchase, the director now owns 150,245 shares of the company’s stock, valued at $14,799,132.50. This trade represents a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 67,860 shares of company stock valued at $6,469,056 over the last three months. 18.00% of the stock is owned by insiders.
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.
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