Fortinet (NASDAQ:FTNT) Lowered to “Hold” Rating by Wall Street Zen

Fortinet (NASDAQ:FTNT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Other equities research analysts have also recently issued research reports about the company. Arete Research set a $104.00 target price on Fortinet and gave the company a “buy” rating in a research note on Monday, April 27th. Barclays increased their target price on shares of Fortinet from $155.00 to $170.00 and gave the stock an “equal weight” rating in a report on Monday, July 13th. UBS Group raised their target price on shares of Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. TD Cowen reiterated a “buy” rating and issued a $215.00 price target (up from $160.00) on shares of Fortinet in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-four have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $123.61.

Fortinet Trading Up 0.5%

FTNT opened at $152.37 on Friday. The stock has a market capitalization of $111.63 billion, a P/E ratio of 58.83, a P/E/G ratio of 4.14 and a beta of 1.09. Fortinet has a 12 month low of $70.12 and a 12 month high of $170.35. The firm’s fifty day simple moving average is $148.02 and its 200 day simple moving average is $106.45. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, research analysts anticipate that Fortinet will post 2.8 EPS for the current fiscal year.

Insider Activity at Fortinet

In other Fortinet news, COO John Whittle sold 146,015 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 318,387 shares of company stock valued at $43,403,063. 17.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fortinet

A number of institutional investors and hedge funds have recently modified their holdings of FTNT. Regent Peak Wealth Advisors LLC acquired a new position in Fortinet during the second quarter worth approximately $201,000. Insight Wealth Strategies LLC lifted its position in shares of Fortinet by 5.8% in the second quarter. Insight Wealth Strategies LLC now owns 58,043 shares of the software maker’s stock valued at $9,228,000 after buying an additional 3,157 shares during the last quarter. KMG Fiduciary Partners LLC boosted its stake in shares of Fortinet by 4.9% during the 2nd quarter. KMG Fiduciary Partners LLC now owns 64,550 shares of the software maker’s stock worth $9,916,000 after acquiring an additional 2,994 shares during the period. Community Financial Services Group LLC bought a new position in shares of Fortinet during the 2nd quarter worth approximately $105,000. Finally, Fulton Bank N.A. bought a new position in Fortinet in the 2nd quarter valued at about $325,000. 83.71% of the stock is owned by institutional investors.

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.