Capital One Financial Forecasts Fortinet FY2025 Earnings

Fortinet, Inc. (NASDAQ:FTNT - Free Report) - Equities researchers at Capital One Financial decreased their FY2025 earnings per share (EPS) estimates for Fortinet in a note issued to investors on Monday, November 18th. Capital One Financial analyst C. Murphy now forecasts that the software maker will earn $2.01 per share for the year, down from their prior estimate of $2.17. The consensus estimate for Fortinet's current full-year earnings is $1.89 per share.

Other equities research analysts have also issued reports about the stock. Rosenblatt Securities increased their target price on shares of Fortinet from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday. BMO Capital Markets upped their price target on Fortinet from $88.00 to $100.00 and gave the stock a "market perform" rating in a report on Tuesday. Stifel Nicolaus lifted their price objective on Fortinet from $84.00 to $90.00 and gave the company a "hold" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Fortinet from $77.00 to $90.00 and gave the stock a "hold" rating in a research note on Tuesday. Finally, Citigroup increased their price objective on shares of Fortinet from $66.00 to $76.00 and gave the company a "neutral" rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $88.93.

Fortinet Trading Up 1.8 %

FTNT opened at $92.45 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. The firm has a market cap of $70.86 billion, a P/E ratio of 46.69, a P/E/G ratio of 2.71 and a beta of 1.00. Fortinet has a 52 week low of $50.65 and a 52 week high of $100.59. The business has a fifty day simple moving average of $81.71 and a 200-day simple moving average of $69.89.

Institutional Investors Weigh In On Fortinet

Several hedge funds have recently made changes to their positions in FTNT. O Shaughnessy Asset Management LLC grew its holdings in Fortinet by 16.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 43,859 shares of the software maker's stock valued at $2,996,000 after buying an additional 6,309 shares during the period. Lake Street Advisors Group LLC increased its holdings in shares of Fortinet by 20.3% during the 1st quarter. Lake Street Advisors Group LLC now owns 5,401 shares of the software maker's stock worth $369,000 after buying an additional 912 shares during the last quarter. Delap Wealth Advisory LLC purchased a new position in shares of Fortinet in the 1st quarter worth $210,000. CreativeOne Wealth LLC purchased a new stake in Fortinet during the first quarter valued at about $732,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Fortinet by 3.8% in the 1st quarter. Advisors Asset Management Inc. now owns 17,431 shares of the software maker's stock worth $1,191,000 after purchasing an additional 637 shares during the period. Institutional investors and hedge funds own 83.71% of the company's stock.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 23,538 shares of Fortinet stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $74.94, for a total transaction of $1,763,937.72. Following the completion of the transaction, the chief executive officer now directly owns 48,878,806 shares in the company, valued at $3,662,977,721.64. The trade was a 0.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Keith Jensen sold 4,250 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.83, for a total value of $386,027.50. Following the transaction, the chief financial officer now directly owns 4,689 shares of the company's stock, valued at $425,901.87. The trade was a 47.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,095 shares of company stock valued at $4,058,575 in the last quarter. 18.00% of the stock is currently owned by corporate insiders.

Fortinet Company Profile

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.

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