BMO Capital Markets Issues Positive Forecast for Fortinet (NASDAQ:FTNT) Stock Price

Fortinet (NASDAQ:FTNT) had its target price lifted by BMO Capital Markets from $90.00 to $95.00 in a research note released on Monday, Marketbeat.com reports. The brokerage currently has a market perform rating on the software maker’s stock.

A number of other research analysts have also recently commented on the stock. Daiwa Securities Group cut shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 target price on the stock. in a research report on Wednesday, November 12th. Robert W. Baird set a $90.00 price objective on shares of Fortinet in a research report on Friday. Mizuho raised their target price on Fortinet from $72.00 to $74.00 and gave the company an “underperform” rating in a research note on Friday. Jefferies Financial Group set a $90.00 price target on Fortinet in a research note on Friday. Finally, Scotiabank lowered Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price objective for the company. in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus target price of $89.07.

Fortinet Trading Up 3.8%

NASDAQ:FTNT opened at $85.93 on Monday. The business’s 50-day moving average is $80.45 and its two-hundred day moving average is $82.44. The firm has a market capitalization of $63.90 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 2.85 and a beta of 1.06. Fortinet has a 12 month low of $70.12 and a 12 month high of $114.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.17 and a quick ratio of 1.09.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. 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 predict that Fortinet will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the completion of the transaction, the vice president owned 10,210,282 shares in the company, valued at $831,321,160.44. The trade was a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the company’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 $14,308,506.54. Following the transaction, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Fortinet

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Fortinet in the second quarter valued at approximately $1,640,900,000. Vanguard Group Inc. raised its holdings in Fortinet by 4.0% during the third quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock worth $6,354,874,000 after purchasing an additional 2,894,355 shares in the last quarter. Van ECK Associates Corp lifted its position in Fortinet by 62.1% in the third quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock worth $467,868,000 after purchasing an additional 2,132,109 shares during the period. First Trust Advisors LP boosted its stake in Fortinet by 30.9% during the 3rd quarter. First Trust Advisors LP now owns 7,575,662 shares of the software maker’s stock valued at $636,962,000 after purchasing an additional 1,790,033 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Fortinet by 17.0% during the 3rd quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after purchasing an additional 1,568,337 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.