Scotiabank Has Positive Outlook for Fortinet FY2025 Earnings

Fortinet, Inc. (NASDAQ:FTNT) – Analysts at Scotiabank raised their FY2025 EPS estimates for Fortinet in a note issued to investors on Wednesday, March 19th. Scotiabank analyst P. Colville now anticipates that the software maker will post earnings of $2.10 per share for the year, up from their previous estimate of $1.96. Scotiabank currently has a “Sector Outperform” rating and a $135.00 target price on the stock. The consensus estimate for Fortinet’s current full-year earnings is $2.09 per share.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%.

FTNT has been the topic of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Fortinet in a report on Friday, February 7th. Susquehanna boosted their target price on shares of Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Raymond James reaffirmed a “market perform” rating on shares of Fortinet in a research report on Tuesday, January 14th. UBS Group set a $123.00 price objective on Fortinet in a report on Tuesday, March 18th. Finally, Rosenblatt Securities lifted their price target on Fortinet from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $105.69.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $99.79 on Monday. Fortinet has a 52 week low of $54.57 and a 52 week high of $114.82. The business’s 50 day moving average price is $102.46 and its 200 day moving average price is $92.70. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. The firm has a market cap of $76.74 billion, a P/E ratio of 44.16, a P/E/G ratio of 4.19 and a beta of 0.97.

Insider Transactions at Fortinet

In other news, Director Kenneth A. Goldman sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $100.00, for a total transaction of $200,000.00. Following the transaction, the director now directly owns 18,612 shares in the company, valued at $1,861,200. The trade was a 9.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William H. Neukom purchased 328 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $106.33 per share, with a total value of $34,876.24. Following the acquisition, the director now owns 300,006 shares of the company’s stock, valued at approximately $31,899,637.98. The trade was a 0.11 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 599,988 shares of company stock valued at $59,094,530 over the last 90 days. 18.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. acquired a new stake in Fortinet during the fourth quarter worth about $27,000. Oarsman Capital Inc. grew its stake in shares of Fortinet by 188.9% in the 4th quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock valued at $39,000 after buying an additional 272 shares during the period. Graney & King LLC acquired a new stake in shares of Fortinet during the 4th quarter worth approximately $43,000. Banque Transatlantique SA purchased a new stake in shares of Fortinet during the 4th quarter valued at approximately $43,000. Finally, Golden State Wealth Management LLC acquired a new position in Fortinet in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 83.71% 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.