Fortinet (NASDAQ:FTNT) Price Target Raised to $185.00

Fortinet (NASDAQ:FTNT) had its target price raised by stock analysts at BMO Capital Markets from $170.00 to $185.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “market perform” rating on the software maker’s stock. BMO Capital Markets’ price target suggests a potential upside of 20.74% from the stock’s current price.

FTNT has been the subject of a number of other reports. Morgan Stanley upgraded shares of Fortinet from an “underweight” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $133.00 in a research note on Tuesday, July 21st. Robert W. Baird set a $120.00 price target on shares of Fortinet in a report on Tuesday, July 21st. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective (up from $70.00) on shares of Fortinet in a research note on Monday, July 20th. Cantor Fitzgerald reissued a “neutral” rating and set a $165.00 price objective (up from $110.00) on shares of Fortinet in a report on Thursday, July 23rd. Finally, Rosenblatt Securities upped their target price on Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $126.35.

Fortinet Trading Up 2.2%

Fortinet stock opened at $153.22 on Thursday. The stock has a 50-day moving average of $149.45 and a two-hundred day moving average of $108.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet has a one year low of $70.12 and a one year high of $170.35. The stock has a market cap of $112.26 billion, a PE ratio of 59.16, a price-to-earnings-growth ratio of 4.08 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, research analysts anticipate that Fortinet will post 2.8 EPS for the current fiscal year.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the transaction, the chief operating officer owned 94,724 shares in the company, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the sale, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 over the last quarter. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Fortinet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTNT. Regent Peak Wealth Advisors LLC purchased a new position in shares of Fortinet during the 2nd quarter valued at about $201,000. Insight Wealth Strategies LLC boosted its stake in shares of Fortinet by 5.8% in the second quarter. Insight Wealth Strategies LLC now owns 58,043 shares of the software maker’s stock worth $9,228,000 after buying an additional 3,157 shares during the last quarter. KMG Fiduciary Partners LLC boosted its stake in shares of Fortinet by 4.9% in the second quarter. KMG Fiduciary Partners LLC now owns 64,550 shares of the software maker’s stock worth $9,916,000 after buying an additional 2,994 shares during the last quarter. Community Financial Services Group LLC acquired a new stake in Fortinet during the second quarter worth about $105,000. Finally, Fulton Bank N.A. acquired a new stake in Fortinet during the second quarter worth about $325,000. 83.71% of the stock is owned by institutional investors and hedge funds.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q2 results surpassed estimates. Fortinet reported $2.05 billion in revenue, up 26% year over year and above the $1.89 billion consensus estimate. Adjusted EPS was $0.90 versus expectations of $0.75, while GAAP diluted EPS rose to $0.82 from $0.57 a year earlier. Fortinet Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Product momentum accelerated. Product revenue jumped 52% to $773 million, billings increased 33% to $2.37 billion, and the company generated $1.04 billion in operating cash flow and $966 million in free cash flow. Management cited strong enterprise demand amid rising cybersecurity threats. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Fortinet raised its 2026 outlook. Full-year revenue guidance increased to $8.02 billion-$8.18 billion, compared with the prior outlook of approximately $8.0 billion-$8.2 billion as reported in the company’s updated guidance, and the company projected adjusted EPS of $3.41-$3.47 versus the $3.08 analyst consensus. Third-quarter revenue guidance of $2.01 billion-$2.10 billion and EPS guidance of $0.83-$0.87 also exceeded consensus estimates. Fortinet Reports Strong Second Quarter 2026 Financial Results
• Neutral Sentiment: Fortinet also expanded its FortiGate G Series with the 1200G and FortiSASE Outpost, supporting its strategy of combining networking, firewall and cloud-delivered security services. Fortinet Expands FortiGate G Series
• Negative Sentiment: Valuation remains a risk after the strong rally: Fortinet trades at a high earnings multiple, and Wells Fargo maintained a Sell rating. In addition, reported insider activity showed executives selling shares without recorded purchases in the past six months, which may temper bullish sentiment.

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.