Analysts’ Weekly Ratings Changes for Fortinet (FTNT)

Several analysts have recently updated their ratings and price targets for Fortinet (NASDAQ: FTNT):

• 4/1/2025 – Fortinet was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 4/1/2025 – Fortinet is now covered by analysts at Stephens. They set an “equal weight” rating and a $108.00 price target on the stock.
• 3/31/2025 – Fortinet was upgraded by analysts at Stephens to a “strong-buy” rating.
• 3/31/2025 – Fortinet had its price target lowered by analysts at Jefferies Financial Group Inc. from $115.00 to $105.00. They now have a “hold” rating on the stock.
• 3/21/2025 – Fortinet was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/18/2025 – Fortinet was given a new $123.00 price target on by analysts at UBS Group AG.
• 3/18/2025 – Fortinet is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $123.00 price target on the stock.
• 3/7/2025 – Fortinet was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 2/10/2025 – Fortinet had its price target raised by analysts at Susquehanna from $90.00 to $110.00. They now have a “neutral” rating on the stock.
• 2/7/2025 – Fortinet had its price target raised by analysts at Royal Bank of Canada from $97.00 to $115.00. They now have a “sector perform” rating on the stock.
• 2/7/2025 – Fortinet had its price target raised by analysts at Scotiabank from $115.00 to $135.00. They now have a “sector outperform” rating on the stock.
• 2/7/2025 – Fortinet had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $135.00 price target on the stock, up previously from $120.00.
• 2/7/2025 – Fortinet had its “neutral” rating reaffirmed by analysts at Guggenheim.
• 2/7/2025 – Fortinet had its price target raised by analysts at Stifel Nicolaus from $103.00 to $115.00. They now have a “hold” rating on the stock.
• 2/7/2025 – Fortinet had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 2/7/2025 – Fortinet had its price target raised by analysts at Wells Fargo & Company from $85.00 to $105.00. They now have an “equal weight” rating on the stock.
• 2/7/2025 – Fortinet had its price target raised by analysts at The Goldman Sachs Group, Inc. from $114.00 to $130.00. They now have a “buy” rating on the stock.
• 2/7/2025 – Fortinet had its price target raised by analysts at Rosenblatt Securities from $115.00 to $125.00. They now have a “buy” rating on the stock.
• 2/4/2025 – Fortinet had its price target raised by analysts at Cantor Fitzgerald from $95.00 to $110.00. They now have a “neutral” rating on the stock.
• 2/3/2025 – Fortinet had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $112.00 price target on the stock, up previously from $105.00.
• 2/3/2025 – Fortinet was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating.

Fortinet Price Performance

FTNT opened at $96.67 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $103.00 and its 200 day moving average price is $93.68. Fortinet, Inc. has a fifty-two week low of $54.57 and a fifty-two week high of $114.82. The firm has a market cap of $74.34 billion, a price-to-earnings ratio of 42.77, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. As a group, sell-side analysts expect that Fortinet, Inc. will post 2.09 earnings per share for the current year.

Insider Activity

In related news, CFO Keith Jensen sold 17,660 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $109.18, for a total value of $1,928,118.80. Following the sale, the chief financial officer now directly owns 4,736 shares in the company, valued at $517,076.48. This trade represents a 78.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ken Xie sold 23,044 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $93.32, for a total value of $2,150,466.08. Following the transaction, the chief executive officer now owns 49,039,698 shares of the company’s stock, valued at $4,576,384,617.36. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 599,988 shares of company stock valued at $59,094,530. 18.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FTNT. Townsquare Capital LLC raised its position in shares of Fortinet by 32.7% during the 3rd quarter. Townsquare Capital LLC now owns 11,082 shares of the software maker’s stock worth $859,000 after buying an additional 2,729 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of Fortinet by 14.7% during the third quarter. Public Sector Pension Investment Board now owns 25,760 shares of the software maker’s stock valued at $1,998,000 after acquiring an additional 3,300 shares during the period. Captrust Financial Advisors raised its holdings in Fortinet by 21.0% during the third quarter. Captrust Financial Advisors now owns 50,096 shares of the software maker’s stock worth $3,885,000 after purchasing an additional 8,708 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Fortinet in the third quarter worth approximately $93,000. Finally, Investment Management Corp of Ontario boosted its stake in Fortinet by 49.0% during the 3rd quarter. Investment Management Corp of Ontario now owns 21,601 shares of the software maker’s stock valued at $1,675,000 after purchasing an additional 7,100 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.