Fortinet (NASDAQ:FTNT) Hits New 52-Week High After Analyst Upgrade

Fortinet, Inc. (NASDAQ:FTNT) reached a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from $155.00 to $170.00. Barclays currently has an equal weight rating on the stock. Fortinet traded as high as $166.66 and last traded at $165.95, with a volume of 863538 shares traded. The stock had previously closed at $160.62.

A number of other brokerages also recently issued reports on FTNT. Rosenblatt Securities raised their price target on shares of Fortinet from $105.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Morgan Stanley reissued an “underweight” rating and set a $80.00 price objective on shares of Fortinet in a report on Thursday, May 7th. Bank of America increased their price objective on shares of Fortinet from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Arete Research set a $104.00 target price on shares of Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, UBS Group lifted their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $111.00.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. The trade was a 0.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the company’s stock in a transaction that occurred 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 sale, the vice president directly owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock worth $43,403,063 in the last quarter. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Fortinet

Hedge funds have recently bought and sold shares of the stock. Physician Wealth Advisors Inc. grew its stake in shares of Fortinet by 408.3% during the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after acquiring an additional 245 shares during the period. Wexford Capital LP purchased a new stake in shares of Fortinet during the third quarter worth about $25,000. Elyxium Wealth LLC bought a new stake in Fortinet during the 4th quarter valued at approximately $27,000. Palisade Asset Management LLC bought a new stake in Fortinet during the 3rd quarter valued at approximately $28,000. Finally, Ares Financial Consulting LLC purchased a new position in Fortinet in the 4th quarter worth approximately $29,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Up 2.5%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The company has a market capitalization of $120.62 billion, a PE ratio of 63.57, a PEG ratio of 4.28 and a beta of 1.09. The stock has a fifty day moving average of $139.26 and a 200 day moving average of $101.64.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm 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. As a group, sell-side analysts predict that Fortinet, Inc. will post 2.8 earnings per share for the current fiscal year.

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.