Fortinet (NASDAQ:FTNT) Given New $145.00 Price Target at Susquehanna

Fortinet (NASDAQ:FTNT) had its price objective decreased by Susquehanna from $160.00 to $145.00 in a research note issued to investors on Friday,Benzinga reports. Susquehanna currently has a neutral rating on the software maker’s stock.

FTNT has been the subject of several other research reports. Daiwa Securities Group upped their price objective on shares of Fortinet from $115.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada set a $165.00 price target on Fortinet and gave the stock a “sector perform” rating in a report on Thursday. Roth Capital raised their price objective on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Barclays decreased their price target on shares of Fortinet from $210.00 to $155.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Arete Research downgraded shares of Fortinet from a “buy” rating to a “sell” rating and set a $117.00 price target for the company. in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-four have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet has an average rating of “Hold” and an average target price of $147.94.

Fortinet Stock Performance

FTNT opened at $136.08 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.19 and a current ratio of 1.40. The business’s 50-day simple moving average is $171.34 and its 200 day simple moving average is $128.28. The firm has a market capitalization of $99.84 billion, a PE ratio of 44.18, a PEG ratio of 2.59 and a beta of 1.03. Fortinet has a 52-week low of $73.55 and a 52-week high of $197.13.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, October 28th. The software maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Fortinet had a return on equity of 152.72% and a net margin of 28.96%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. As a group, sell-side analysts expect that Fortinet will post 3.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,121 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total value of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This represents a 0.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 221,303 shares of company stock valued at $36,164,034. 17.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortinet

A number of large investors have recently bought and sold shares of the stock. Ascent Group LLC increased its holdings in shares of Fortinet by 9.8% during the third quarter. Ascent Group LLC now owns 4,420 shares of the software maker’s stock valued at $790,000 after acquiring an additional 393 shares in the last quarter. 3Chopt Investment Partners LLC grew its holdings in shares of Fortinet by 13.1% during the third quarter. 3Chopt Investment Partners LLC now owns 1,555 shares of the software maker’s stock valued at $278,000 after buying an additional 180 shares during the last quarter. Compass Financial Management LLC grew its holdings in shares of Fortinet by 312.0% during the third quarter. Compass Financial Management LLC now owns 12,717 shares of the software maker’s stock valued at $2,273,000 after buying an additional 9,630 shares during the last quarter. Focused Wealth Management Inc purchased a new stake in Fortinet during the 3rd quarter valued at $216,000. Finally, Rakuten Investment Management Inc. bought a new stake in Fortinet in the 3rd quarter worth about $30,738,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet reported third-quarter revenue of approximately $2.08 billion, up 20.5% year over year, and adjusted EPS of $0.91, exceeding consensus estimates. Billings increased 29%, while operating margins reached a record. Fortinet Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management raised full-year 2026 guidance to $8.1 billion-$8.2 billion in revenue and $3.54-$3.58 in EPS. Fourth-quarter EPS guidance of $0.93-$0.95 also exceeds the consensus estimate of $0.86. Fortinet Raises Guidance
• Positive Sentiment: The board authorized an additional $1.2 billion in share repurchases, and quarterly free cash flow was approximately $865 million. Analysts at TD Cowen, Rosenblatt and Truist retained bullish ratings despite lowering their price targets. Fortinet Adds to Buyback Program
• Neutral Sentiment: Fortinet is technically oversold after a sharp multi-week decline, while rising earnings estimates could support a rebound. However, the technical signal does not resolve concerns about the company’s growth mix. Fortinet May See a Trend Reversal
• Negative Sentiment: Service revenue grew only 13%, versus 37% growth in product revenue. Investors are concerned that hardware sales tied to AI infrastructure are not converting into recurring services quickly enough, reducing near-term revenue visibility. The Real Reason Fortinet Dropped
• Negative Sentiment: Management lowered its services outlook, while fourth-quarter revenue guidance implies growth deceleration from the third quarter. Normalizing pricing benefits, higher inventory costs and longer component lead times added to investor concerns.
• Negative Sentiment: Wells Fargo cut its price target to $115 and assigned an underweight rating; Susquehanna lowered its target to $145 and rated the shares neutral. Other firms, including Bank of America, Citi, Barclays and Scotiabank, also reduced targets or ratings. Analysts Cut Fortinet Forecasts
• Negative Sentiment: The broader technology and cybersecurity sell-off is amplifying the reaction, despite a major cryptocurrency hack highlighting demand for digital security. Investors are also questioning whether Fortinet’s premium valuation remains justified as growth slows.

Fortinet Company Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.