What is Scotiabank’s Estimate for Fortinet FY2025 Earnings?

Fortinet, Inc. (NASDAQ:FTNT) – Stock analysts at Scotiabank increased their FY2025 earnings estimates for Fortinet in a research report issued on Wednesday, March 19th. Scotiabank analyst P. Colville now forecasts that the software maker will post earnings per share of $2.10 for the year, up from their previous forecast of $1.96. Scotiabank has a “Sector Outperform” rating and a $135.00 price objective on the stock. The consensus estimate for Fortinet’s current full-year earnings is $2.09 per share.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group boosted their price objective on Fortinet from $95.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Susquehanna boosted their price target on shares of Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Needham & Company LLC reissued a “hold” rating on shares of Fortinet in a research note on Friday, February 7th. The Goldman Sachs Group upped their target price on shares of Fortinet from $114.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Raymond James reissued a “market perform” rating on shares of Fortinet in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $105.69.

Fortinet Stock Up 1.2 %

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 stock’s fifty day moving average is $102.46 and its two-hundred day moving average is $92.70. The stock has a market capitalization of $76.74 billion, a price-to-earnings ratio of 44.16, a price-to-earnings-growth ratio of 4.19 and a beta of 0.97. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67.

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

Insider Buying and Selling

In related news, Director Kenneth A. Goldman sold 2,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the sale, the director now owns 18,612 shares in the company, valued at $1,861,200. This represents a 9.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Xie sold 326,784 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $98.17, for a total transaction of $32,080,385.28. Following the transaction, the vice president now directly owns 11,000,068 shares in the company, valued at $1,079,876,675.56. The trade was a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 599,988 shares of company stock worth $59,094,530 in the last quarter. 18.00% of the stock is owned by insiders.

Institutional Trading of Fortinet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Fortinet by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 68,115,470 shares of the software maker’s stock valued at $6,435,550,000 after purchasing an additional 730,994 shares during the period. State Street Corp increased its stake in Fortinet by 2.9% in the 3rd quarter. State Street Corp now owns 27,281,279 shares of the software maker’s stock valued at $2,115,663,000 after buying an additional 766,135 shares during the period. Geode Capital Management LLC raised its position in Fortinet by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 15,270,913 shares of the software maker’s stock worth $1,440,648,000 after buying an additional 387,901 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Fortinet by 31.3% in the 4th quarter. Invesco Ltd. now owns 8,388,693 shares of the software maker’s stock worth $792,564,000 after acquiring an additional 2,000,888 shares during the period. Finally, Norges Bank purchased a new stake in shares of Fortinet in the fourth quarter valued at about $724,048,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

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.