Rosenblatt Securities Upgrades Fortinet (NASDAQ:FTNT) to Buy

Fortinet (NASDAQ:FTNT) was upgraded by stock analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm currently has a $100.00 price target on the software maker’s stock, up from their previous price target of $85.00. Rosenblatt Securities’ target price points to a potential upside of 23.06% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada dropped their price objective on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a report on Thursday, November 6th. Robert W. Baird cut their price objective on Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Morgan Stanley reiterated an “underweight” rating and issued a $70.00 target price (up from $66.00) on shares of Fortinet in a report on Thursday, December 18th. TD Cowen upgraded Fortinet from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $75.00 price target (down previously from $85.00) on shares of Fortinet in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-three have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $90.48.

Fortinet Trading Down 0.3%

FTNT opened at $81.26 on Thursday. Fortinet has a 52 week low of $70.12 and a 52 week high of $114.82. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $80.36 and a 200-day simple moving average of $83.73. The firm has a market cap of $60.43 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.84 and a beta of 1.07.

Fortinet (NASDAQ:FTNT) last posted its earnings results on Wednesday, November 5th. The software maker reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.Fortinet’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Fortinet has set its FY 2025 guidance at 2.660-2.700 EPS and its Q4 2025 guidance at 0.730-0.750 EPS. On average, equities analysts expect that Fortinet will post 2.09 earnings per share for the current year.

Insider Transactions at Fortinet

In related news, VP Michael Xie sold 3,546 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $86.53, for a total transaction of $306,835.38. Following the completion of the sale, the vice president owned 10,492,018 shares in the company, valued at $907,874,317.54. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ken Xie sold 158,485 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $86.51, for a total value of $13,710,537.35. Following the completion of the transaction, the chief executive officer directly owned 51,391,879 shares of the company’s stock, valued at $4,445,911,452.29. This trade represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Fortinet in the second quarter valued at $1,640,900,000. Vanguard Group Inc. increased its position in shares of 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 holdings in shares of Fortinet by 62.1% in the 3rd quarter. Van ECK Associates Corp now owns 5,564,558 shares of the software maker’s stock valued at $467,868,000 after purchasing an additional 2,132,109 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Fortinet by 30.9% in 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 during the period. Finally, Invesco Ltd. grew 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 worth $909,453,000 after buying an additional 1,568,337 shares during the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Rosenblatt upgraded FTNT to a Buy and raised its price target to $100 (from $85), a bullish endorsement that can support share gains. Read More.
• Positive Sentiment: TD Cowen upgraded FTNT to Buy (PT $100) and called the valuation reasonable after channel checks showed stability — an influential bank upgrade that likely boosted buying interest. Read More.
• Positive Sentiment: Fortinet announced a FortiCNAPP upgrade emphasizing tighter cloud security integration and investor-focused messaging on cloud risk management — product progress that supports the company’s platform story and competitive moat. Read More.
• Positive Sentiment: Sector lift: coverage of Fortinet’s upgrades has helped buoy cybersecurity peers (e.g., CrowdStrike), indicating the upgrade-driven sentiment is spilling across the group and can provide additional support to FTNT. Read More.
• Neutral Sentiment: Elevated investor interest/search activity around FTNT signals heightened attention and liquidity, which can amplify moves in either direction depending on news flow. Read More.
• Neutral Sentiment: Multiple pieces profile Fortinet’s unified cloud-risk platform and longer-term moat — constructive for medium-term growth expectations but not an immediate earnings catalyst. Read More.
• Negative Sentiment: Zacks preview warns Fortinet lacks the setup for a likely earnings beat next week — this raises downside risk into the print and helps explain intraday pullbacks despite the bullish headlines. Read More.
• Neutral Sentiment: Scheduled earnings coverage and media previews mean volatility is likely until results/guidance are released — traders should watch the upcoming report for guidance vs. consensus. Read More.

About Fortinet

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.