Fortinet (NASDAQ:FTNT) Issues Earnings Results

Fortinet (NASDAQ:FTNT) released its quarterly earnings data on Thursday. The software maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07, Zacks reports. Fortinet had a net margin of 26.79% and a return on equity of 973.30%. Fortinet updated its Q1 2025 guidance to 0.520-0.540 EPS and its FY 2025 guidance to 2.410-2.470 EPS.

Fortinet Stock Up 2.5 %

Shares of NASDAQ FTNT opened at $107.30 on Friday. Fortinet has a 52-week low of $54.57 and a 52-week high of $112.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34. The company’s 50 day moving average price is $97.13 and its 200-day moving average price is $84.21. The company has a market capitalization of $82.24 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 2.65 and a beta of 1.01.

Analysts Set New Price Targets

A number of brokerages recently commented on FTNT. Raymond James reiterated a “market perform” rating on shares of Fortinet in a research note on Tuesday, January 14th. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up previously from $85.00) on shares of Fortinet in a research note on Wednesday, November 20th. Piper Sandler restated an “overweight” rating and issued a $135.00 price target (up from $120.00) on shares of Fortinet in a research note on Friday. Citigroup increased their price objective on Fortinet from $100.00 to $101.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Bank of America raised their price target on shares of Fortinet from $87.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Fortinet presently has a consensus rating of “Hold” and a consensus target price of $98.57.

Insider Buying and Selling

In other Fortinet news, CFO Keith Jensen sold 4,250 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.83, for a total value of $386,027.50. Following the transaction, the chief financial officer now directly owns 4,689 shares of the company’s stock, valued at approximately $425,901.87. The trade was a 47.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Neukom bought 355 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the director now owns 150,245 shares of the company’s stock, valued at $14,799,132.50. This represents a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 67,860 shares of company stock valued at $6,469,056 over the last quarter. Insiders own 18.00% of the company’s stock.

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.