JPMorgan Chase & Co. Has Lowered Expectations for Fortinet (NASDAQ:FTNT) Stock Price

Fortinet (NASDAQ:FTNT) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $75.00 to $72.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 11.40% from the company’s previous close.

Several other analysts have also issued reports on FTNT. Royal Bank Of Canada dropped their target price on Fortinet from $95.00 to $85.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Fortinet in a report on Monday, December 29th. Barclays lowered their target price on shares of Fortinet from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Thursday, November 6th. Robert W. Baird cut their price target on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Rosenblatt Securities upgraded shares of Fortinet from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $100.00 in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Fortinet presently has a consensus rating of “Hold” and an average price target of $90.48.

Fortinet Stock Down 0.3%

Shares of Fortinet stock opened at $81.26 on Friday. The firm has a market cap of $60.43 billion, a PE ratio of 33.44, a P/E/G ratio of 2.84 and a beta of 1.07. The business’s 50 day simple moving average is $80.36 and its 200 day simple moving average is $83.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.94 and a current ratio of 1.03. Fortinet has a 52-week low of $70.12 and a 52-week high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Fortinet had a net margin of 28.58% and a return on equity of 118.27%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. On average, analysts predict that Fortinet will post 2.09 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.53, for a total value of $306,835.38. Following the completion of the transaction, the vice president owned 10,492,018 shares of the company’s stock, valued at $907,874,317.54. The trade was a 0.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ken Xie sold 158,485 shares of Fortinet stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $86.51, for a total transaction of $13,710,537.35. Following the sale, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. This represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortinet

A number of hedge funds have recently made changes to their positions in FTNT. Sigma Planning Corp raised its holdings in Fortinet by 8.2% during the 4th quarter. Sigma Planning Corp now owns 7,939 shares of the software maker’s stock valued at $639,000 after buying an additional 603 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Fortinet by 11.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 17,071 shares of the software maker’s stock valued at $1,356,000 after acquiring an additional 1,757 shares during the period. Delta Investment Management LLC raised its stake in shares of Fortinet by 2.4% during the fourth quarter. Delta Investment Management LLC now owns 5,250 shares of the software maker’s stock valued at $417,000 after acquiring an additional 125 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Fortinet by 1.1% during the fourth quarter. US Bancorp DE now owns 214,161 shares of the software maker’s stock worth $17,007,000 after purchasing an additional 2,295 shares during the period. Finally, Bogart Wealth LLC grew its stake in shares of Fortinet by 243.4% in the fourth quarter. Bogart Wealth LLC now owns 1,044 shares of the software maker’s stock worth $83,000 after purchasing an additional 740 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Rosenblatt upgraded FTNT to a Buy and raised its price target to $100 (from $85), a bullish endorsement that can support share gains. Read More.
• Positive Sentiment: TD Cowen upgraded FTNT to Buy (PT $100) and called the valuation reasonable after channel checks showed stability — an influential bank upgrade that likely boosted buying interest. Read More.
• Positive Sentiment: Fortinet announced a FortiCNAPP upgrade emphasizing tighter cloud security integration and investor-focused messaging on cloud risk management — product progress that supports the company’s platform story and competitive moat. Read More.
• Positive Sentiment: Sector lift: coverage of Fortinet’s upgrades has helped buoy cybersecurity peers (e.g., CrowdStrike), indicating the upgrade-driven sentiment is spilling across the group and can provide additional support to FTNT. Read More.
• Neutral Sentiment: Elevated investor interest/search activity around FTNT signals heightened attention and liquidity, which can amplify moves in either direction depending on news flow. Read More.
• Neutral Sentiment: Multiple pieces profile Fortinet’s unified cloud-risk platform and longer-term moat — constructive for medium-term growth expectations but not an immediate earnings catalyst. Read More.
• Negative Sentiment: Zacks preview warns Fortinet lacks the setup for a likely earnings beat next week — this raises downside risk into the print and helps explain intraday pullbacks despite the bullish headlines. Read More.
• Neutral Sentiment: Scheduled earnings coverage and media previews mean volatility is likely until results/guidance are released — traders should watch the upcoming report for guidance vs. consensus. Read More.

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.