FY2025 EPS Estimates for Fortinet Cut by Cantor Fitzgerald

Fortinet, Inc. (NASDAQ:FTNT) – Analysts at Cantor Fitzgerald lowered their FY2025 earnings per share estimates for Fortinet in a research report issued to clients and investors on Friday, February 7th. Cantor Fitzgerald analyst J. Ruykhaver now expects that the software maker will earn $2.12 per share for the year, down from their prior estimate of $2.17. Cantor Fitzgerald currently has a “Neutral” rating and a $110.00 target price on the stock. The consensus estimate for Fortinet’s current full-year earnings is $2.05 per share.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a net margin of 29.30% and a return on equity of 463.85%.

Other analysts also recently issued reports about the company. Wedbush lifted their price objective on Fortinet from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Baird R W lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. The Goldman Sachs Group upped their target price on Fortinet from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus lifted their target price on Fortinet from $103.00 to $115.00 and gave the company a “hold” rating in a research note on Friday. Finally, UBS Group boosted their target price on Fortinet from $70.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.77.

Fortinet Trading Up 1.8 %

Shares of NASDAQ FTNT opened at $109.55 on Monday. Fortinet has a twelve month low of $54.57 and a twelve month high of $110.99. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $97.67 and a two-hundred day simple moving average of $85.31. The firm has a market cap of $83.96 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC lifted its holdings in Fortinet by 95.0% during the third quarter. CWM LLC now owns 76,564 shares of the software maker’s stock valued at $5,938,000 after purchasing an additional 37,294 shares in the last quarter. Wedmont Private Capital raised its position in shares of Fortinet by 24.0% during the 3rd quarter. Wedmont Private Capital now owns 5,407 shares of the software maker’s stock worth $419,000 after purchasing an additional 1,045 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Fortinet by 413.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,712 shares of the software maker’s stock valued at $443,000 after buying an additional 4,600 shares in the last quarter. City State Bank boosted its holdings in Fortinet by 900.0% in the 3rd quarter. City State Bank now owns 500 shares of the software maker’s stock worth $39,000 after buying an additional 450 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Fortinet by 373.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 18,866 shares of the software maker’s stock worth $1,463,000 after buying an additional 14,877 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other Fortinet news, CEO Ken Xie sold 23,044 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $93.32, for a total transaction of $2,150,466.08. Following the transaction, the chief executive officer now owns 49,039,698 shares in the company, valued at approximately $4,576,384,617.36. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William H. Neukom acquired 355 shares of the company’s stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $98.50 per share, for a total transaction of $34,967.50. Following the completion of the acquisition, the director now owns 150,245 shares of the company’s stock, valued at $14,799,132.50. This trade represents a 0.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 67,860 shares of company stock valued at $6,469,056 in the last 90 days. 18.00% of the stock is currently owned by company insiders.

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.