Cantor Fitzgerald Forecasts Fortinet FY2025 Earnings

Fortinet, Inc. (NASDAQ:FTNT) – Equities research analysts at Cantor Fitzgerald issued their FY2025 earnings per share (EPS) estimates for Fortinet in a research note issued on Tuesday, January 21st. Cantor Fitzgerald analyst J. Ruykhaver expects 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.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, November 7th. The software maker reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.13. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Fortinet had a return on equity of 973.30% and a net margin of 26.79%. During the same quarter last year, the firm earned $0.35 EPS.

FTNT has been the topic of several other reports. Scotiabank raised their price target on shares of Fortinet from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. Jefferies Financial Group boosted their price target on shares of Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Robert W. Baird lifted their target price on shares of Fortinet from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped their price target on Fortinet from $100.00 to $114.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, Barclays boosted their price objective on Fortinet from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $96.83.

Fortinet Stock Down 0.8 %

Shares of FTNT stock opened at $97.45 on Wednesday. The stock has a market cap of $74.69 billion, a P/E ratio of 49.22, a P/E/G ratio of 2.55 and a beta of 1.00. Fortinet has a twelve month low of $54.57 and a twelve month high of $101.00. The stock has a 50 day moving average of $95.65 and a 200 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.

Insiders Place Their Bets

In related news, CFO Keith Jensen sold 4,250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total value of $386,027.50. Following the transaction, the chief financial officer now owns 4,689 shares of the company’s stock, valued at approximately $425,901.87. This trade represents a 47.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William H. Neukom acquired 355 shares of Fortinet stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $98.50 per share, with a total value of $34,967.50. Following the completion of the purchase, the director now directly owns 150,245 shares in the company, 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 have sold 67,860 shares of company stock valued at $6,469,056 in the last ninety days. Company insiders own 18.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. First Hawaiian Bank purchased a new position in Fortinet during the fourth quarter valued at approximately $670,000. LVM Capital Management Ltd. MI boosted its holdings in Fortinet by 10.7% in the 4th quarter. LVM Capital Management Ltd. MI now owns 89,827 shares of the software maker’s stock worth $8,487,000 after buying an additional 8,707 shares during the period. Apollon Wealth Management LLC boosted its holdings in Fortinet by 7.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 15,296 shares of the software maker’s stock worth $1,186,000 after buying an additional 1,081 shares during the period. Forsta AP Fonden increased its stake in Fortinet by 11.8% in the 3rd quarter. Forsta AP Fonden now owns 135,500 shares of the software maker’s stock worth $10,508,000 after buying an additional 14,300 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Fortinet in the 3rd quarter worth $10,343,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.