Fortinet (NASDAQ:FTNT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Fortinet (NASDAQ:FTNT) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $72.00 to $73.00 in a report released on Friday,Benzinga reports. The firm currently has an “underweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 11.79% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Mizuho upped their target price on Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research note on Friday. Robert W. Baird set a $90.00 price target on Fortinet in a research report on Friday. Scotiabank downgraded Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price objective on the stock. in a research report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortinet in a research report on Monday, December 29th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $70.00 target price (up previously from $66.00) on shares of Fortinet in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Fortinet has an average rating of “Hold” and an average target price of $89.46.

Fortinet Price Performance

Fortinet stock opened at $82.76 on Friday. The firm has a market capitalization of $61.54 billion, a PE ratio of 34.06, a P/E/G ratio of 2.86 and a beta of 1.06. Fortinet has a 52 week low of $70.12 and a 52 week high of $114.82. The firm’s 50-day simple moving average is $80.37 and its 200 day simple moving average is $82.73. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68.

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

Insider Activity

In other Fortinet news, VP Michael Xie sold 343,106 shares of the firm’s stock in a transaction dated 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 sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This trade represents a 3.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of Fortinet stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the sale, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Fortinet

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Fortinet by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after buying an additional 2,894,355 shares during the period. State Street Corp boosted its holdings in Fortinet by 1.6% in the third 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 last quarter. Geode Capital Management LLC grew its position in Fortinet by 5.2% during 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 period. Norges Bank acquired a new stake in Fortinet during the second quarter worth about $1,640,900,000. Finally, Invesco Ltd. raised its holdings in shares of Fortinet by 17.0% in the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after purchasing an additional 1,568,337 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Key Fortinet News

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.

About Fortinet

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.