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

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

Other equities research analysts also recently issued reports about the stock. Piper Sandler raised their price target on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities upped their price objective on shares of Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. BTIG Research increased their price objective on shares of Fortinet from $150.00 to $186.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Morgan Stanley upgraded shares of Fortinet from an “underweight” rating to an “outperform” rating and raised their target price for the company from $80.00 to $133.00 in a research report on Tuesday. Finally, Barclays boosted their target price on shares of Fortinet from $155.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $123.61.

Fortinet Trading Up 0.5%

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

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.58 earnings per share. Fortinet’s 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. Equities analysts predict that Fortinet will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the firm’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 transaction, the chief operating officer directly owned 94,724 shares of the company’s stock, valued at $12,163,508.84. The trade was a 60.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last ninety days. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Fortinet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Physician Wealth Advisors Inc. lifted its holdings in Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock worth $25,000 after buying an additional 245 shares during the period. Wexford Capital LP acquired a new stake in shares of Fortinet in the third quarter valued at about $25,000. Elyxium Wealth LLC bought a new position in shares of Fortinet during the fourth quarter worth about $27,000. Palisade Asset Management LLC bought a new position in shares of Fortinet during the third quarter worth about $28,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Fortinet in the fourth quarter worth approximately $29,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.