Cantor Fitzgerald Weighs in on Fortinet FY2025 Earnings

Fortinet, Inc. (NASDAQ:FTNT) – Analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for Fortinet in a report released on Tuesday, January 21st. Cantor Fitzgerald analyst J. Ruykhaver anticipates that the software maker will earn $2.20 per share for the year. Cantor Fitzgerald currently has a “Neutral” rating and a $95.00 target price on the stock. The consensus estimate for Fortinet’s current full-year earnings is $1.95 per share.

Several other research analysts have also recently weighed in on FTNT. Wedbush boosted their target price on Fortinet from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Royal Bank of Canada upped their price target on Fortinet from $82.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Fortinet in a research report on Friday, November 22nd. Truist Financial reissued a “buy” rating and issued a $105.00 price target (up from $85.00) on shares of Fortinet in a research report on Wednesday, November 20th. Finally, Piper Sandler raised shares of Fortinet from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $100.00 to $120.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $96.83.

Fortinet Price Performance

NASDAQ:FTNT opened at $97.45 on Wednesday. The stock has a 50 day moving average of $95.65 and a two-hundred day moving average of $81.33. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09. The firm has a market cap of $74.69 billion, a P/E ratio of 49.22, a price-to-earnings-growth ratio of 2.55 and a beta of 1.00. Fortinet has a 12 month low of $54.57 and a 12 month high of $101.00.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings results on Thursday, November 7th. The software maker reported $0.56 EPS for the quarter, beating the consensus estimate of $0.43 by $0.13. Fortinet had a net margin of 26.79% and a return on equity of 973.30%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $0.35 earnings per share.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 22,916 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $97.93, for a total transaction of $2,244,163.88. Following the completion of the sale, the chief executive officer now owns 48,983,683 shares of the company’s stock, valued at $4,796,972,076.19. This trade represents a 0.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Keith Jensen sold 17,650 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $95.66, for a total value of $1,688,399.00. Following the completion of the sale, the chief financial officer now owns 4,689 shares of the company’s stock, valued at approximately $448,549.74. This trade represents a 79.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,860 shares of company stock worth $6,469,056. 18.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fortinet

Several institutional investors have recently added to or reduced their stakes in the business. Eagle Capital Management LLC lifted its position in shares of Fortinet by 2.2% during the 2nd quarter. Eagle Capital Management LLC now owns 25,631 shares of the software maker’s stock valued at $1,545,000 after buying an additional 544 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Fortinet by 190.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,452 shares of the software maker’s stock worth $87,000 after buying an additional 952 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Fortinet by 6.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 165,465 shares of the software maker’s stock worth $9,973,000 after acquiring an additional 10,145 shares in the last quarter. Summit Trail Advisors LLC lifted its position in Fortinet by 30.4% during the 2nd quarter. Summit Trail Advisors LLC now owns 5,462 shares of the software maker’s stock valued at $329,000 after acquiring an additional 1,274 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of Fortinet by 37,340.0% in the second quarter. Frank Rimerman Advisors LLC now owns 11,232 shares of the software maker’s stock worth $677,000 after buying an additional 11,202 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

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.