Cantor Fitzgerald Decreases Earnings Estimates for Fortinet

Fortinet, Inc. (NASDAQ:FTNT) – Research analysts at Cantor Fitzgerald decreased their FY2025 earnings per share (EPS) estimates for Fortinet in a report issued on Tuesday, February 4th. Cantor Fitzgerald analyst J. Ruykhaver now forecasts that the software maker will post earnings of $2.17 per share for the year, down from their prior estimate of $2.20. Cantor Fitzgerald has a “Neutral” rating and a $110.00 price objective on the stock. The consensus estimate for Fortinet’s current full-year earnings is $1.95 per share.

A number of other analysts also recently issued reports on the company. Rosenblatt Securities raised their price objective on Fortinet from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Fortinet from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on Fortinet from $99.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Barclays upped their target price on shares of Fortinet from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Baird R W lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $97.73.

Fortinet Price Performance

Fortinet stock opened at $104.72 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34. Fortinet has a 1 year low of $54.57 and a 1 year high of $105.82. The stock has a market capitalization of $80.26 billion, a P/E ratio of 52.89, a P/E/G ratio of 2.65 and a beta of 1.01. The company’s fifty day moving average price is $97.13 and its 200 day moving average price is $84.21.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a return on equity of 973.30% and a net margin of 26.79%.

Institutional Investors Weigh In On Fortinet

A number of institutional investors have recently added to or reduced their stakes in the business. Eastern Bank bought a new position in Fortinet during the third quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Fortinet during the 3rd quarter valued at about $26,000. Private Wealth Management Group LLC boosted its position in shares of Fortinet by 73.3% during the 3rd quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock valued at $32,000 after purchasing an additional 173 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Fortinet during the 4th quarter valued at about $46,000. Finally, City State Bank lifted its stake in Fortinet by 900.0% in the third quarter. City State Bank now owns 500 shares of the software maker’s stock valued at $39,000 after buying an additional 450 shares during the period. 83.71% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Ken Xie sold 22,916 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $97.93, for a total value of $2,244,163.88. Following the completion of the transaction, the chief executive officer now owns 48,983,683 shares in the company, valued at $4,796,972,076.19. This trade represents a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Neukom purchased 355 shares of the stock in a transaction on Friday, December 6th. The shares were bought at an average cost of $98.50 per share, for a total transaction of $34,967.50. Following the transaction, the director now directly owns 150,245 shares in the company, valued at approximately $14,799,132.50. The trade was a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 67,860 shares of company stock worth $6,469,056. Insiders own 18.00% of the company’s stock.

Fortinet Company Profile

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.