Fortinet (FTNT) Expected to Announce Earnings on Wednesday

Fortinet (NASDAQ:FTNT) is expected to be issuing its Q1 2025 quarterly earnings data after the market closes on Wednesday, May 7th. Analysts expect the company to announce earnings of $0.53 per share and revenue of $1.54 billion for the quarter. Fortinet has set its Q1 2025 guidance at 0.520-0.540 EPS and its FY 2025 guidance at 2.410-2.470 EPS.

Fortinet (NASDAQ:FTNT) last posted 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 net margin of 29.30% and a return on equity of 256.53%. On average, analysts expect Fortinet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortinet Trading Up 1.5 %

FTNT opened at $104.21 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.47 and a quick ratio of 1.39. The company has a market cap of $80.13 billion, a price-to-earnings ratio of 46.11, a price-to-earnings-growth ratio of 4.19 and a beta of 1.09. The firm has a 50 day simple moving average of $98.89 and a 200 day simple moving average of $96.24. Fortinet has a fifty-two week low of $54.57 and a fifty-two week high of $114.82.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup boosted their price objective on shares of Fortinet from $100.00 to $101.00 and gave the company a “neutral” rating in a report on Friday, January 17th. StockNews.com cut shares of Fortinet from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. Royal Bank of Canada boosted their price objective on shares of Fortinet from $97.00 to $115.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Rosenblatt Securities boosted their price objective on shares of Fortinet from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald decreased their price objective on shares of Fortinet from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, twenty-one have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $104.77.

Insider Activity at Fortinet

In other Fortinet news, CFO Keith Jensen sold 17,660 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $109.18, for a total transaction of $1,928,118.80. Following the completion of the transaction, the chief financial officer now directly owns 4,736 shares in the company, valued at $517,076.48. The trade was a 78.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ken Xie sold 206,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $96.93, for a total transaction of $19,967,580.00. Following the transaction, the chief executive officer now owns 51,391,879 shares of the company’s stock, valued at approximately $4,981,414,831.47. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 576,944 shares of company stock worth $56,944,064. Company insiders own 18.00% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Fortinet stock. Brighton Jones LLC lifted its stake in shares of Fortinet, Inc. (NASDAQ:FTNT) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,327 shares of the software maker’s stock after buying an additional 221 shares during the period. Brighton Jones LLC’s holdings in Fortinet were worth $976,000 as of its most recent SEC filing. Institutional investors and hedge funds own 83.71% of the company’s stock.

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.