Brokerages Set Fortinet, Inc. (NASDAQ:FTNT) Price Target at $102.69

Fortinet, Inc. (NASDAQ:FTNT) has earned an average rating of “Hold” from the thirty-five research firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, twenty-four have issued a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $102.6897.

Several equities analysts have recently commented on FTNT shares. Barclays set a $115.00 target price on Fortinet and gave the company an “equal weight” rating in a report on Thursday, May 7th. Arete Research set a $104.00 price target on Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Scotiabank increased their price target on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Morgan Stanley reiterated an “underweight” rating and set a $80.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $83.00 price target on shares of Fortinet in a research report on Friday, February 6th.

Fortinet Price Performance

Shares of FTNT opened at $149.67 on Friday. The firm has a market cap of $109.66 billion, a price-to-earnings ratio of 57.79, a PEG ratio of 4.01 and a beta of 1.11. The stock has a 50 day moving average of $102.28 and a 200-day moving average of $88.50. 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 has a 52 week low of $70.12 and a 52 week high of $150.07.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. 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, analysts forecast that Fortinet will post 2.78 EPS for the current year.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Articles highlighted Fortinet’s momentum profile and strong year-to-date performance, reinforcing the view that the stock is benefiting from sustained demand for cybersecurity and AI-driven security spending. Article Title
• Positive Sentiment: Coverage on rising AI-related cyberattacks pointed to higher global security spending, which supports the long-term growth outlook for Fortinet and peers in the cybersecurity space. Article Title
• Positive Sentiment: Fortinet’s latest earnings beat remains a key fundamental driver, with the company delivering stronger-than-expected EPS and revenue growth, helping sustain investor confidence in the stock. Article Title
• Neutral Sentiment: A transcript on quantum computing and quantum-safe cybersecurity suggests Fortinet is thinking about future threats and strategy, but it does not appear to be an immediate catalyst for the shares. Article Title
• Negative Sentiment: Recent insider sales by CEO Ken Xie and VP Michael Xie may create some caution, even though the trades were pre-arranged under 10b5-1 plans and involved small percentage reductions in ownership. Article Title

Insider Transactions at Fortinet

In other news, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was 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 in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ken Xie sold 160,632 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fortinet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 2,894,355 shares in the last quarter. State Street Corp boosted its stake in Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock valued at $2,493,860,000 after purchasing an additional 477,397 shares in the last quarter. Norges Bank bought a new position in Fortinet during the 4th quarter valued at $1,152,917,000. Bank of New York Mellon Corp boosted its stake in shares of Fortinet by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after acquiring an additional 893,190 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Fortinet by 45.5% during the 1st quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock worth $940,284,000 after acquiring an additional 3,598,487 shares in the last quarter. 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.