Brokers Offer Predictions for Fortinet FY2025 Earnings

Fortinet, Inc. (NASDAQ:FTNT - Free Report) - Research analysts at Cantor Fitzgerald reduced their FY2025 EPS estimates for Fortinet in a research note issued to investors on Thursday, April 24th. Cantor Fitzgerald analyst J. Ruykhaver now expects that the software maker will post earnings of $2.06 per share for the year, down from their prior estimate of $2.12. Cantor Fitzgerald currently has a "Neutral" rating and a $100.00 target price on the stock. The consensus estimate for Fortinet's current full-year earnings is $2.09 per share.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 256.53%.

FTNT has been the topic of a number of other research reports. Guggenheim reissued a "neutral" rating on shares of Fortinet in a research note on Friday, February 7th. Royal Bank of Canada boosted their price target on Fortinet from $97.00 to $115.00 and gave the company a "sector perform" rating in a research note on Friday, February 7th. Wells Fargo & Company increased their price target on Fortinet from $85.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Needham & Company LLC restated a "hold" rating on shares of Fortinet in a report on Friday, February 7th. Finally, Baird R W cut Fortinet from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $104.77.

Fortinet Stock Performance

Shares of NASDAQ FTNT traded up $1.57 during trading hours on Friday, reaching $104.21. The stock had a trading volume of 3,126,130 shares, compared to its average volume of 5,072,614. The company has a market cap of $80.13 billion, a price-to-earnings ratio of 46.11, a PEG ratio of 4.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.39. The business's fifty day moving average is $99.09 and its two-hundred day moving average is $96.18. Fortinet has a twelve month low of $54.57 and a twelve month high of $114.82.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 206,000 shares of Fortinet stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $96.93, for a total transaction of $19,967,580.00. Following the sale, the chief executive officer now directly owns 51,391,879 shares in the company, valued at $4,981,414,831.47. This trade represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Xie sold 326,784 shares of Fortinet stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $98.17, for a total transaction of $32,080,385.28. Following the transaction, the vice president now owns 11,000,068 shares in the company, valued at approximately $1,079,876,675.56. This trade represents a 2.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 576,944 shares of company stock valued at $56,944,064 in the last quarter. Insiders own 18.00% of the company's stock.

Hedge Funds Weigh In On Fortinet

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SJS Investment Consulting Inc. boosted its holdings in shares of Fortinet by 703.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 257 shares of the software maker's stock worth $25,000 after buying an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Fortinet during the fourth quarter worth $27,000. ORG Partners LLC grew its holdings in Fortinet by 47.5% in the first quarter. ORG Partners LLC now owns 348 shares of the software maker's stock worth $34,000 after purchasing an additional 112 shares during the period. EQ Wealth Advisors LLC bought a new stake in Fortinet in the first quarter valued at $35,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Fortinet during the first quarter valued at about $36,000. Institutional investors and hedge funds own 83.71% of the company's stock.

About Fortinet

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.