Fortinet (NASDAQ:FTNT) Price Target Raised to $180.00 at Bank of America

Fortinet (NASDAQ:FTNT) had its price objective raised by research analysts at Bank of America from $130.00 to $180.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Bank of America‘s price objective points to a potential upside of 25.59% from the stock’s previous close.

A number of other research analysts have also commented on the company. Morgan Stanley reiterated an “underweight” rating and set a $80.00 price target on shares of Fortinet in a report on Thursday, May 7th. UBS Group upped their price target on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Mizuho boosted their price objective on Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research report on Thursday, May 7th. Cantor Fitzgerald restated a “neutral” rating and set a $87.00 price objective on shares of Fortinet in a research report on Tuesday, April 21st. Finally, Stifel Nicolaus set a $85.00 price objective on Fortinet in a research report on Wednesday, March 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $106.43.

Fortinet Stock Performance

Shares of FTNT stock traded down $1.35 during trading hours on Monday, reaching $143.33. 1,612,790 shares of the company’s stock were exchanged, compared to its average volume of 6,516,855. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $150.07. The stock has a market capitalization of $105.01 billion, a P/E ratio of 55.41, a P/E/G ratio of 3.96 and a beta of 1.11. The business has a fifty day moving average price of $103.59 and a 200-day moving average price of $88.94. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company earned $0.58 earnings per share. The company’s quarterly revenue 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. Analysts predict that Fortinet will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling at Fortinet

In other Fortinet news, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $18,749,786.15. Following the completion of the sale, the chief operating officer owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 318,387 shares of company stock worth $43,403,063 over the last three months. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Fortinet

Large investors have recently bought and sold shares of the stock. Pinnacle Holdings LLC bought a new stake in Fortinet in the third quarter valued at $25,000. Ameriflex Group Inc. bought a new stake in Fortinet in the third quarter valued at $25,000. Wexford Capital LP bought a new stake in Fortinet in the third quarter valued at $25,000. Physician Wealth Advisors Inc. grew its position in Fortinet by 408.3% in the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares during the period. Finally, Palisade Asset Management LLC bought a new stake in Fortinet in the third quarter valued at $28,000. 83.71% of the stock is currently 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.