Fortinet FY2025 EPS Forecast Raised by Cantor Fitzgerald

Fortinet, Inc. (NASDAQ:FTNT) – Investment analysts at Cantor Fitzgerald upped their FY2025 earnings per share estimates for shares of Fortinet in a research report issued to clients and investors on Thursday, August 7th. Cantor Fitzgerald analyst J. Ruykhaver now forecasts that the software maker will post earnings of $2.19 per share for the year, up from their prior forecast of $2.14. Cantor Fitzgerald currently has a “Neutral” rating and a $110.00 target price on the stock. The consensus estimate for Fortinet’s current full-year earnings is $2.09 per share. Cantor Fitzgerald also issued estimates for Fortinet’s FY2026 earnings at $2.44 EPS.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, August 6th. The software maker reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. Fortinet had a return on equity of 111.46% and a net margin of 30.60%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s revenue was up 13.6% compared to the same quarter last year.

A number of other equities analysts also recently weighed in on FTNT. Roth Capital set a $103.00 target price on Fortinet and gave the stock a “neutral” rating in a research note on Tuesday, April 22nd. Wolfe Research initiated coverage on Fortinet in a research note on Monday, May 12th. They issued a “peer perform” rating on the stock. DZ Bank raised shares of Fortinet from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Friday. Robert W. Baird lifted their price target on shares of Fortinet from $110.00 to $113.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Finally, Evercore ISI lowered their price target on shares of Fortinet from $105.00 to $78.00 and set an “in-line” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Fortinet has a consensus rating of “Hold” and an average price target of $97.93.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $74.39 on Friday. Fortinet has a twelve month low of $67.97 and a twelve month high of $114.82. The stock’s 50 day moving average price is $101.76 and its 200-day moving average price is $101.62. The company has a market capitalization of $56.94 billion, a PE ratio of 29.64, a PEG ratio of 2.56 and a beta of 1.07. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Fortinet by 5.2% in the first quarter. Vanguard Group Inc. now owns 71,662,404 shares of the software maker’s stock valued at $6,898,223,000 after acquiring an additional 3,546,934 shares during the last quarter. Geode Capital Management LLC increased its stake in Fortinet by 5.2% in the second quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after acquiring an additional 828,569 shares during the last quarter. Invesco Ltd. increased its stake in Fortinet by 2.2% in the first quarter. Invesco Ltd. now owns 8,570,528 shares of the software maker’s stock valued at $824,999,000 after acquiring an additional 181,835 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Fortinet by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,016,467 shares of the software maker’s stock valued at $675,405,000 after acquiring an additional 1,026,277 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Fortinet by 0.8% in the first quarter. Northern Trust Corp now owns 6,519,558 shares of the software maker’s stock valued at $627,573,000 after acquiring an additional 49,238 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other news, Director William H. Neukom purchased 335 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were purchased at an average price of $104.22 per share, with a total value of $34,913.70. Following the completion of the acquisition, the director owned 301,471 shares in the company, valued at $31,419,307.62. This trade represents a 0.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael Xie sold 476,596 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $98.48, for a total transaction of $46,935,174.08. Following the completion of the transaction, the vice president directly owned 9,730,560 shares in the company, valued at approximately $958,265,548.80. The trade was a 4.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.

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.