FY2025 Earnings Forecast for Fortinet Issued By Scotiabank

Fortinet, Inc. (NASDAQ:FTNT) – Equities research analysts at Scotiabank upped their FY2025 earnings per share (EPS) estimates for Fortinet in a report released on Wednesday, March 19th. Scotiabank analyst P. Colville now forecasts that the software maker will post earnings of $2.10 per share for the year, up from their prior 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.

FTNT has been the topic of a number of other research reports. Piper Sandler reissued an “overweight” rating and set a $135.00 price target (up previously from $120.00) on shares of Fortinet in a research report on Friday, February 7th. Raymond James reaffirmed a “market perform” rating on shares of Fortinet in a research report on Tuesday, January 14th. Mizuho upped their target price on Fortinet from $68.00 to $78.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. StockNews.com raised Fortinet from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Morgan Stanley assumed coverage on Fortinet in a research report on Tuesday, March 18th. They issued an “overweight” rating and a $123.00 target price on the stock. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Fortinet has an average rating of “Hold” and an average target price of $105.69.

Fortinet Price Performance

Shares of NASDAQ FTNT opened at $98.65 on Monday. The business’s 50 day moving average price is $102.34 and its two-hundred day moving average price is $92.53. The company has a market cap of $75.86 billion, a PE ratio of 43.65, 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 has a twelve month low of $54.57 and a twelve month high of $114.82.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Thursday, February 6th. The software maker reported $0.67 earnings per share 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%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. bought a new position in shares of Fortinet in the 4th quarter valued at $27,000. Oarsman Capital Inc. lifted 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 acquiring an additional 272 shares during the last quarter. Graney & King LLC bought a new position in shares of Fortinet in the 4th quarter valued at $43,000. Banque Transatlantique SA bought a new position in shares of Fortinet in the 4th quarter valued at $43,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Fortinet in the 4th quarter valued at $46,000. 83.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ken Xie sold 23,044 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $93.32, for a total value of $2,150,466.08. Following the completion of the transaction, the chief executive officer now directly owns 49,039,698 shares in the company, valued at approximately $4,576,384,617.36. This represents a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $200,000.00. Following the completion of the transaction, the director now owns 18,612 shares of the company’s stock, valued at $1,861,200. The trade was a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,988 shares of company stock worth $59,094,530 over the last three months. 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.