FY2025 Earnings Forecast for Fortinet Issued By Scotiabank

Fortinet, Inc. (NASDAQ:FTNT) – Analysts at Scotiabank boosted their FY2025 earnings per share estimates for shares of Fortinet in a research report issued to clients and investors on Wednesday, March 19th. Scotiabank analyst P. Colville now expects that the software maker will earn $2.10 per share for the year, up from their prior estimate of $1.96. Scotiabank currently 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 commented on the company. StockNews.com upgraded Fortinet from a “hold” rating to a “buy” rating in a report on Friday, March 21st. The Goldman Sachs Group upped their price objective on shares of Fortinet from $114.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on shares of Fortinet from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Jefferies Financial Group upped their target price on shares of Fortinet from $95.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, Raymond James reiterated a “market perform” rating on shares of Fortinet in a research note on Tuesday, January 14th. One investment 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 stock currently has an average rating of “Hold” and a consensus price target of $105.69.

Fortinet Stock Performance

Shares of Fortinet stock opened at $102.09 on Monday. The business has a 50-day simple moving average of $102.65 and a 200 day simple moving average of $92.89. Fortinet has a one year low of $54.57 and a one year high of $114.82. 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 firm has a market capitalization of $78.50 billion, a price-to-earnings ratio of 45.17, a PEG ratio of 4.19 and a beta of 0.97.

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

Institutional Investors Weigh In On Fortinet

Several large investors have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Fortinet in the 4th quarter valued at about $27,000. Oarsman Capital Inc. raised its stake in Fortinet by 188.9% in the fourth quarter. Oarsman Capital Inc. now owns 416 shares of the software maker’s stock valued at $39,000 after purchasing an additional 272 shares in the last quarter. Graney & King LLC bought a new stake in Fortinet during the fourth quarter valued at approximately $43,000. Banque Transatlantique SA purchased a new position in Fortinet in the 4th quarter worth approximately $43,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Fortinet during the 4th quarter valued at $46,000. Institutional investors own 83.71% of the company’s stock.

Insider Transactions at Fortinet

In other news, Director William H. Neukom bought 328 shares of the stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $106.33 per share, for a total transaction of $34,876.24. Following the purchase, the director now directly owns 300,006 shares of the company’s stock, valued at $31,899,637.98. This trade represents a 0.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth A. Goldman sold 2,000 shares of the business’s 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 transaction, the director now owns 18,612 shares of the company’s stock, valued at $1,861,200. This trade represents a 9.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 599,988 shares of company stock worth $59,094,530. 18.00% of the stock is owned by company insiders.

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.