Rosenblatt Securities Issues Positive Forecast for Fortinet (NASDAQ:FTNT) Stock Price

Fortinet (NASDAQ:FTNT) had its target price boosted by stock analysts at Rosenblatt Securities from $185.00 to $195.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 27.27% from the company’s previous close.

Several other analysts have also recently commented on FTNT. Wolfe Research set a $175.00 price target on Fortinet in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Fortinet from $73.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Wells Fargo & Company reissued 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. Finally, Scotiabank raised their price target on Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Fortinet currently has an average rating of “Hold” and a consensus price target of $131.84.

Fortinet Trading Up 2.2%

Shares of Fortinet stock opened at $153.22 on Thursday. 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 $112.26 billion, a P/E ratio of 59.16, a PEG ratio of 4.08 and a beta of 1.09. Fortinet has a 1 year low of $70.12 and a 1 year high of $170.35. The company’s fifty day moving average is $149.45 and its two-hundred day moving average is $108.19.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts forecast that Fortinet will post 2.8 earnings per share for the current year.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the 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 owned 52,972,372 shares of the company’s stock, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Fortinet 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 transaction, the vice president directly owned 9,923,610 shares in the company, valued at approximately $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. In the last quarter, insiders sold 318,387 shares of company stock worth $43,403,063. 17.60% of the stock is currently owned by company insiders.

Institutional Trading of Fortinet

Several large investors have recently modified their holdings of FTNT. Elevation Wealth Partners LLC raised its position in shares of Fortinet by 53.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. Wexford Capital LP acquired a new stake in shares of Fortinet during the 3rd quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its stake in Fortinet by 408.3% during the first quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after purchasing an additional 245 shares during the last quarter. Palisade Asset Management LLC bought a new stake in shares of Fortinet during the 3rd quarter valued at about $28,000. Finally, Elyxium Wealth LLC acquired a new position in Fortinet in the fourth quarter valued at approximately $27,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q2 results exceeded expectations. Fortinet reported adjusted earnings of $0.90 per share versus the $0.75 consensus estimate, while revenue rose 26% year over year to $2.05 billion, above the $1.89 billion forecast. GAAP net income increased to $606.3 million from $440.1 million a year earlier. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Product momentum and billings were particularly strong. Product revenue jumped 52% to $773 million, billings increased 33% to $2.37 billion, and free cash flow reached $966 million. The results suggest customers are increasing spending across Fortinet’s security platform. Fortinet Reports Strong Second Quarter 2026 Financial Results
• Positive Sentiment: Fortinet raised its outlook. Full-year 2026 revenue guidance is approximately $8.0 billion to $8.2 billion, with EPS guidance of $3.41 to $3.47, both above Wall Street expectations. Third-quarter guidance also exceeds consensus, with revenue of $2.01 billion to $2.10 billion and EPS of $0.83 to $0.87. Fortinet Earns Reiterated Buy as Strong Q2 Results and 2026 Outlook Drive Price Target Increase to $203
• Neutral Sentiment: Analyst sentiment remains divided. BTIG reiterated a Buy rating and lifted its price target to $203, while other coverage includes both Buy and Sell ratings. Fortinet’s new FortiGate 1200G and FortiSASE Outpost products could support future growth, although their financial impact is not yet clear. Fortinet Expands FortiGate G Series
• Negative Sentiment: Valuation is a key risk. After approximately 152% appreciation over five years, valuation measures based on discounted cash flow and market multiples indicate FTNT trades at a premium. Reports also noted that insiders made no purchases and sold shares during the past six months, potentially adding to investor caution. Fortinet Stock Seems Stretched Following Its 152% Five Year Run

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.