Fortinet (NASDAQ:FTNT) Upgraded by Wall Street Zen to “Buy” Rating

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

FTNT has been the subject of a number of other research reports. Citigroup boosted their target price on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $87.00 price target on shares of Fortinet in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $100.00 price target on shares of Fortinet in a research note on Thursday, May 7th. Royal Bank Of Canada restated a “sector perform” rating and issued a $160.00 price objective on shares of Fortinet in a report on Thursday. Finally, Rosenblatt Securities upped their price objective on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-three have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet currently has an average rating of “Hold” and an average price target of $113.97.

Fortinet Stock Up 0.5%

FTNT opened at $161.61 on Friday. The business’s fifty day simple moving average is $144.30 and its 200 day simple moving average is $103.80. Fortinet has a 52 week low of $70.12 and a 52 week high of $170.35. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The stock has a market cap of $118.40 billion, a PE ratio of 62.40, a P/E/G ratio of 4.37 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’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. As a group, research analysts expect that Fortinet will post 2.8 earnings per share for the current fiscal year.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 160,632 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the 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 sale, 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. Over the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. Insiders own 17.60% of the company’s stock.

Institutional Trading of Fortinet

A number of institutional investors have recently modified their holdings of the company. Elevation Wealth Partners LLC increased its holdings in Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after buying an additional 75 shares in the last quarter. Florida Financial Advisors LLC lifted its stake in Fortinet by 3.0% during the 1st quarter. Florida Financial Advisors LLC now owns 3,780 shares of the software maker’s stock valued at $309,000 after acquiring an additional 109 shares during the period. Optimist Retirement Group LLC boosted its holdings in shares of Fortinet by 2.5% during the 4th quarter. Optimist Retirement Group LLC now owns 5,010 shares of the software maker’s stock valued at $398,000 after acquiring an additional 122 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Fortinet by 3.1% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the software maker’s stock valued at $326,000 after acquiring an additional 123 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in shares of Fortinet by 31.4% in the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after acquiring an additional 123 shares during the period. 83.71% of the stock is currently owned by hedge funds and other 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.