Rosenblatt Securities Raises Fortinet (NASDAQ:FTNT) Price Target to $125.00

Fortinet (NASDAQ:FTNT) had its price objective upped by equities research analysts at Rosenblatt Securities from $105.00 to $125.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 9.58% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Stifel Nicolaus set a $85.00 price objective on Fortinet in a research note on Wednesday, March 11th. Robert W. Baird set a $90.00 price objective on Fortinet in a research note on Friday, February 6th. Freedom Capital lowered Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Evercore set a $80.00 price target on Fortinet in a research report on Friday, February 6th. Finally, Barclays set a $115.00 price target on Fortinet and gave the stock an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fortinet presently has an average rating of “Hold” and an average target price of $100.45.

Fortinet Stock Performance

NASDAQ FTNT opened at $114.07 on Thursday. The firm has a market capitalization of $83.51 billion, a P/E ratio of 44.04, a P/E/G ratio of 3.69 and a beta of 0.92. Fortinet has a 1-year low of $70.12 and a 1-year high of $114.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.09. The business’s 50-day simple moving average is $82.97 and its 200-day simple moving average is $81.98.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 EPS. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Equities analysts predict that Fortinet will post 2.64 EPS for the current year.

Insider Activity at Fortinet

In related news, VP Michael Xie sold 2,478 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the transaction, the vice president directly owned 9,927,517 shares of the company’s stock, valued at approximately $882,456,986.13. The trade was a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ken Xie sold 5,355 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.90, for a total value of $476,059.50. Following the transaction, the chief executive officer directly owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This trade represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On Fortinet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allstate Corp bought a new stake in shares of Fortinet in the 3rd quarter valued at approximately $2,034,000. Trilogy Capital Inc. increased its holdings in shares of Fortinet by 46.8% in the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock valued at $3,506,000 after acquiring an additional 14,076 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fortinet by 465.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 756,651 shares of the software maker’s stock valued at $64,255,000 after acquiring an additional 622,809 shares during the last quarter. Machina Capital S.A.S. bought a new stake in shares of Fortinet in the 3rd quarter valued at approximately $1,177,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Fortinet by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,651,683 shares of the software maker’s stock valued at $138,874,000 after acquiring an additional 90,284 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet delivered a strong Q1 beat, with revenue up 20% year over year, EPS ahead of estimates, billings up sharply, and full-year guidance raised, signaling stronger demand across cybersecurity and AI-related security products.
• Positive Sentiment: Several analysts turned more constructive, including BTIG’s upgrade to Buy, Rosenblatt’s Buy rating with a higher target, and Citi/Susquehanna/UBS/Piper all raising price targets to around the current share price or above, supporting bullish sentiment.
• Positive Sentiment: Commentary around Fortinet’s gains suggests the results helped dispel “AI disruption” fears and highlighted growing demand tied to a more complex threat environment, which is improving investor confidence in the company’s growth runway.
• Neutral Sentiment: Citigroup and Susquehanna raised their price target to $115 while maintaining Neutral ratings, implying limited upside from current levels even after the rally.
• Neutral Sentiment: RBC Capital and Needham kept Hold-type views, indicating that not all analysts see the valuation as compelling despite the improved fundamentals.
• Negative Sentiment: There were also insider sales by the CEO and a VP, which may temper enthusiasm somewhat, though these trades appear small relative to the stock’s recent move.

About Fortinet

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.