Fortinet (NASDAQ:FTNT) Earns Outperform Rating from Wedbush

Fortinet (NASDAQ:FTNT)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a research note issued to investors on Friday,Benzinga reports. They currently have a $90.00 target price on the software maker’s stock. Wedbush’s price objective suggests a potential upside of 8.75% from the company’s current price.

FTNT has been the subject of a number of other research reports. Citigroup restated a “neutral” rating and issued a $85.00 price objective (up previously from $83.00) on shares of Fortinet in a research note on Monday, January 12th. Morgan Stanley restated an “underweight” rating and set a $70.00 price target (up previously from $66.00) on shares of Fortinet in a research report on Thursday, December 18th. Barclays set a $88.00 price objective on shares of Fortinet in a report on Tuesday. Scotiabank downgraded shares of Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 target price for the company. in a research report on Monday, February 2nd. Finally, TD Cowen raised shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $89.46.

Fortinet Stock Up 4.9%

FTNT opened at $82.76 on Friday. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $114.82. The firm has a market capitalization of $61.54 billion, a P/E ratio of 34.06, a PEG ratio of 2.86 and a beta of 1.06. The company’s 50-day moving average is $80.37 and its 200 day moving average is $82.73. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 0.94.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 117.39%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $0.74 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. Research analysts expect that Fortinet will post 2.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total value of $27,935,690.52. Following the completion of the transaction, the vice president directly owned 10,210,282 shares of the company’s stock, valued at $831,321,160.44. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Fortinet

Several hedge funds and other institutional investors have recently modified their holdings of FTNT. EverSource Wealth Advisors LLC boosted its position in shares of Fortinet by 156.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,580 shares of the software maker’s stock valued at $602,000 after acquiring an additional 4,629 shares during the period. Evoke Wealth LLC increased its holdings in Fortinet by 35.2% during the 4th quarter. Evoke Wealth LLC now owns 10,371 shares of the software maker’s stock worth $824,000 after acquiring an additional 2,701 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Fortinet by 12.9% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,522 shares of the software maker’s stock worth $597,000 after purchasing an additional 857 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in shares of Fortinet during the 4th quarter valued at $181,000. Finally, FourThought Financial Partners LLC increased its holdings in shares of Fortinet by 3.0% in the fourth quarter. FourThought Financial Partners LLC now owns 38,456 shares of the software maker’s stock worth $3,054,000 after purchasing an additional 1,131 shares during the period. 83.71% of the stock is currently owned by institutional investors.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q4 beat and raised full‑year guidance — Fortinet reported Q4 revenue of $1.91B and EPS of $0.81 (above estimates) and issued FY‑2026 EPS guidance ahead of consensus; management highlighted strong enterprise demand. Read More.
• Positive Sentiment: Billings, product growth and Unified SASE strength — Billings rose ~18% (Unified SASE billings up ~40%) and product revenue grew double digits, underpinning revenue momentum. Read More.
• Positive Sentiment: Buyback expanded — company increased its buyback program by $1B to roughly $10.25B through Feb 2027, a shareholder‑friendly move that supports the stock. Read More.
• Positive Sentiment: Some bullish analyst action — Rosenblatt raised its target to $105 (buy), and Wedbush reaffirmed an outperform with a $90 target, giving upside voices amid mixed comments. Read More. • Read More.
• Neutral Sentiment: Primary disclosures and management commentary — full earnings call transcript and presentation are available for deeper read on cloud/SASE strategy and guidance detail. Read More. • Read More.
• Negative Sentiment: Analyst caution still present — JPMorgan and Mizuho raised price targets slightly but kept underweight/outperform/underperform stances that imply limited near‑term upside from some shops; Jefferies also remains cautious on 2026. Read More. • Read More. • Read More.
• Negative Sentiment: Insider selling — filings show large sales by the CEO and a VP, which may raise short‑term governance/flow concerns for some investors. Read More. • Read More.
• Neutral Sentiment: Street positioning mixed — some firms (Robert W. Baird, others) keep holds or reiterate neutral stances citing product strength offset by services slowdown or limited near‑term upside. 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.