Fortinet (NASDAQ:FTNT) Price Target Raised to $105.00 at Wedbush

Fortinet (NASDAQ:FTNT) had its target price increased by Wedbush from $90.00 to $105.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock. Wedbush also issued estimates for Fortinet’s Q2 2025 earnings at $0.48 EPS, Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.10 EPS.

Other analysts have also issued reports about the company. Cantor Fitzgerald lifted their price target on Fortinet from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday. Susquehanna lifted their price target on Fortinet from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley lifted their price target on Fortinet from $105.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday. Scotiabank lifted their price target on Fortinet from $75.00 to $85.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities lifted their price target on Fortinet from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $88.93.

Fortinet Stock Performance

Shares of FTNT opened at $92.77 on Tuesday. The stock has a 50 day moving average of $82.45 and a 200 day moving average of $70.30. The company has a market capitalization of $71.10 billion, a price-to-earnings ratio of 46.85, a PEG ratio of 2.71 and a beta of 1.00. Fortinet has a 12 month low of $50.65 and a 12 month high of $100.59. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09.

Insider Buying and Selling

In related news, CFO Keith Jensen sold 4,250 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.83, for a total transaction of $386,027.50. Following the completion of the transaction, the chief financial officer now directly owns 4,689 shares in the company, valued at $425,901.87. The trade was a 47.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ken Xie sold 23,538 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $74.94, for a total value of $1,763,937.72. Following the transaction, the chief executive officer now owns 48,878,806 shares of the company’s stock, valued at approximately $3,662,977,721.64. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,095 shares of company stock worth $4,058,575 over the last ninety days. 18.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fortinet

Several hedge funds have recently added to or reduced their stakes in FTNT. Eastern Bank bought a new stake in Fortinet during the third quarter worth about $25,000. Ashton Thomas Securities LLC bought a new stake in Fortinet during the third quarter worth about $26,000. Private Wealth Management Group LLC lifted its stake in Fortinet by 73.3% during the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock worth $32,000 after purchasing an additional 173 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Fortinet during the second quarter worth about $33,000. Finally, Versant Capital Management Inc lifted its stake in Fortinet by 61.2% during the second quarter. Versant Capital Management Inc now owns 627 shares of the software maker’s stock worth $38,000 after purchasing an additional 238 shares during the last quarter. Institutional investors own 83.71% 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.