Capital One Financial Estimates Fortinet FY2025 Earnings

Fortinet, Inc. (NASDAQ:FTNT) – Stock analysts at Capital One Financial cut their FY2025 earnings estimates for shares of Fortinet in a research note issued to investors on Monday, November 18th. Capital One Financial analyst C. Murphy now expects that the software maker will post earnings per share of $2.01 for the year, down from their prior estimate of $2.17. The consensus estimate for Fortinet’s current full-year earnings is $1.89 per share.

A number of other analysts have also weighed in on the company. DZ Bank upgraded Fortinet from a “sell” rating to a “hold” rating and set a $65.00 target price for the company in a report on Thursday, August 8th. Citigroup upped their price objective on Fortinet from $66.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. StockNews.com upgraded Fortinet from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Guggenheim lowered shares of Fortinet from a “buy” rating to a “neutral” rating in a research report on Monday, July 29th. Finally, Hsbc Global Res raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.93.

Fortinet Price Performance

Shares of FTNT opened at $92.77 on Thursday. 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 has a 50 day moving average price of $82.45 and a 200-day moving average price of $70.30. Fortinet has a fifty-two week low of $50.65 and a fifty-two week high of $100.59. The stock has a market capitalization of $71.10 billion, a PE ratio of 46.85, a PEG ratio of 2.71 and a beta of 1.00.

Hedge Funds Weigh In On Fortinet

Institutional investors and hedge funds have recently modified their holdings of the business. O Shaughnessy Asset Management LLC raised its stake in shares of Fortinet by 16.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 43,859 shares of the software maker’s stock worth $2,996,000 after buying an additional 6,309 shares during the period. Lake Street Advisors Group LLC raised its position in Fortinet by 20.3% during the first quarter. Lake Street Advisors Group LLC now owns 5,401 shares of the software maker’s stock worth $369,000 after acquiring an additional 912 shares during the period. Delap Wealth Advisory LLC purchased a new position in Fortinet during the first quarter valued at $210,000. CreativeOne Wealth LLC acquired a new stake in shares of Fortinet in the first quarter valued at about $732,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Fortinet by 3.8% during the first quarter. Advisors Asset Management Inc. now owns 17,431 shares of the software maker’s stock worth $1,191,000 after purchasing an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In related news, CEO Ken Xie sold 23,538 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $74.94, for a total transaction of $1,763,937.72. Following the sale, the chief executive officer now owns 48,878,806 shares in the company, valued at approximately $3,662,977,721.64. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith Jensen sold 4,250 shares of the company’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 owns 4,689 shares of the company’s stock, valued at approximately $425,901.87. This trade represents a 47.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,095 shares of company stock worth $4,058,575. 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.