Capital One Financial Comments on Fortinet Q1 Earnings

Fortinet, Inc. (NASDAQ:FTNT - Free Report) - Stock analysts at Capital One Financial lowered their Q1 2025 earnings per share estimates for Fortinet in a research note issued to investors on Monday, November 18th. Capital One Financial analyst C. Murphy now expects that the software maker will earn $0.41 per share for the quarter, down from their prior forecast of $0.44. The consensus estimate for Fortinet's current full-year earnings is $1.88 per share. Capital One Financial also issued estimates for Fortinet's Q2 2025 earnings at $0.47 EPS, Q3 2025 earnings at $0.55 EPS and Q4 2025 earnings at $0.58 EPS.

A number of other analysts also recently issued reports on the stock. StockNews.com raised shares of Fortinet from a "hold" rating to a "buy" rating in a report on Friday, October 25th. TD Cowen increased their target price on shares of Fortinet from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday. Mizuho lowered Fortinet from a "neutral" rating to an "underperform" rating and set a $68.00 price target for the company. in a research note on Thursday, October 17th. BMO Capital Markets lifted their price objective on Fortinet from $88.00 to $100.00 and gave the stock a "market perform" rating in a report on Tuesday. Finally, Wedbush boosted their price objective on Fortinet from $90.00 to $105.00 and gave the stock an "outperform" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $88.93.

Fortinet Stock Performance

Fortinet stock traded up $1.27 during mid-day trading on Wednesday, hitting $92.06. The company had a trading volume of 1,932,459 shares, compared to its average volume of 5,497,213. The company has a market capitalization of $70.56 billion, a price-to-earnings ratio of 46.55, a P/E/G ratio of 2.82 and a beta of 1.00. Fortinet has a 12-month low of $50.65 and a 12-month high of $100.59. The company's fifty day moving average is $81.39 and its 200-day moving average is $69.73. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09.

Insider Activity

In related news, CEO Ken Xie sold 23,307 shares of Fortinet stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $81.89, for a total value of $1,908,610.23. Following the completion of the transaction, the chief executive officer now directly owns 48,915,530 shares in the company, valued at approximately $4,005,692,751.70. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 18.00% of the company's stock.

Institutional Investors Weigh In On Fortinet

Several large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Fortinet by 664.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 35,137,089 shares of the software maker's stock worth $2,400,215,000 after buying an additional 30,542,551 shares during the period. State Street Corp grew its holdings in Fortinet by 2.9% during the 3rd quarter. State Street Corp now owns 27,281,279 shares of the software maker's stock worth $2,115,663,000 after acquiring an additional 766,135 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Fortinet by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 14,883,012 shares of the software maker's stock valued at $1,151,097,000 after purchasing an additional 354,692 shares during the last quarter. Swedbank AB raised its holdings in shares of Fortinet by 1.7% in the 2nd quarter. Swedbank AB now owns 8,156,797 shares of the software maker's stock valued at $491,610,000 after purchasing an additional 134,366 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Fortinet by 198.5% during the 2nd quarter. Marshall Wace LLP now owns 6,238,856 shares of the software maker's stock worth $376,016,000 after purchasing an additional 4,148,520 shares during the last quarter. Hedge funds and other institutional investors 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.