Fortinet FY2025 EPS Forecast Raised by Cantor Fitzgerald

Fortinet, Inc. (NASDAQ:FTNT) – Equities researchers at Cantor Fitzgerald upped their FY2025 earnings estimates for Fortinet in a report released on Thursday, August 7th. Cantor Fitzgerald analyst J. Ruykhaver now expects that the software maker will earn $2.19 per share for the year, up from their previous forecast of $2.14. Cantor Fitzgerald has a “Neutral” rating and a $110.00 price objective on the stock. The consensus estimate for Fortinet’s current full-year earnings is $2.09 per share. Cantor Fitzgerald also issued estimates for Fortinet’s FY2026 earnings at $2.44 EPS.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. Fortinet had a net margin of 30.60% and a return on equity of 111.46%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis.

Several other research firms have also issued reports on FTNT. Scotiabank cut their price target on shares of Fortinet from $115.00 to $85.00 and set a “sector outperform” rating for the company in a research report on Thursday. Wedbush cut their price target on shares of Fortinet from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Thursday. Roth Capital set a $103.00 price target on shares of Fortinet and gave the company a “neutral” rating in a research report on Tuesday, April 22nd. UBS Group dropped their target price on shares of Fortinet from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Cowen lowered shares of Fortinet from a “buy” rating to a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $97.93.

Fortinet Stock Performance

NASDAQ FTNT opened at $74.39 on Friday. The company has a 50-day simple moving average of $101.76 and a two-hundred day simple moving average of $101.62. The company has a quick ratio of 1.29, a current ratio of 1.33 and a debt-to-equity ratio of 0.24. Fortinet has a 12-month low of $67.97 and a 12-month high of $114.82. The firm has a market cap of $56.94 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.56 and a beta of 1.07.

Institutional Investors Weigh In On Fortinet

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Fortinet by 5.2% in the first quarter. Vanguard Group Inc. now owns 71,662,404 shares of the software maker’s stock worth $6,898,223,000 after purchasing an additional 3,546,934 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Fortinet by 11,349.3% in the first quarter. GAMMA Investing LLC now owns 1,927,607 shares of the software maker’s stock worth $185,551,000 after purchasing an additional 1,910,771 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Fortinet by 40.9% in the first quarter. AQR Capital Management LLC now owns 5,971,648 shares of the software maker’s stock worth $561,156,000 after purchasing an additional 1,733,670 shares during the last quarter. Nuveen LLC purchased a new stake in Fortinet in the first quarter worth approximately $153,576,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Fortinet by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,016,467 shares of the software maker’s stock worth $675,405,000 after purchasing an additional 1,026,277 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

In other news, Director William H. Neukom purchased 335 shares of Fortinet stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average price of $104.22 per share, with a total value of $34,913.70. Following the completion of the transaction, the director directly owned 301,471 shares of the company’s stock, valued at approximately $31,419,307.62. The trade was a 0.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 476,596 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $98.48, for a total transaction of $46,935,174.08. Following the sale, the vice president directly owned 9,730,560 shares of the company’s stock, valued at $958,265,548.80. This trade represents a 4.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.20% 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.