Analysts Set Fortinet One-Year Price Target at $90.04 with 24 Holds
Thirty-four analysts covering Fortinet report an average one-year target price of $90.04, with six buy ratings, twenty-four holds, three sells and one strong buy. CEO Ken Xie sold 158,485 shares at $86.51 totaling $13.7 million, while brokers adjusted targets between $70 and $90.
1. Analyst Ratings Landscape
MarketBeat reports that thirty-four research firms cover Fortinet, with an average recommendation of Hold. Of these, three analysts recommend Sell, twenty-four advise Hold, six issue Buy ratings and one assigns a Strong Buy. The consensus 12-month target price across brokerages stands at approximately ninety dollars per share. Notable recent updates include Morgan Stanley raising its target to seventy dollars, Barclays trimming its objective to eighty-eight dollars, UBS lowering its view to eighty dollars and JPMorgan cutting its target to seventy-five dollars.
2. Insider Transactions
In early November the company’s co-founder and CEO divested 158,485 shares at an average of eighty-six dollars and fifty-one cents, realizing proceeds of nearly thirteen point seven million dollars. His stake now totals 51.39 million shares, a 0.31% reduction. Vice President Michael Xie sold 3,546 shares at about eighty-six dollars and fifty-three cents each, netting three hundred six thousand eight hundred thirty-five dollars and reducing his holding by 0.03% to 10.49 million shares. Insiders collectively own 17.2% of the company’s stock.
3. Institutional Ownership Shifts
During the third quarter Vanguard Group increased its position by 4.0%, adding 2.89 million shares to reach 75.58 million shares. State Street added 477,397 shares for a 1.6% gain, now holding 29.66 million shares. Invesco grew its stake by 17.0%, acquiring 1.57 million additional shares to total 10.82 million. Geode Capital Management boosted its holdings by 5.2% in the second quarter to 16.92 million shares, while Norway’s sovereign wealth fund initiated a $1.64 billion position in the same period. Overall institutional ownership stands at 83.7%.
4. Recent Earnings and Guidance
In its latest quarter Fortinet reported revenue of $1.72 billion, a 14.4% year-over-year increase, and non-GAAP EPS of $0.74, beating consensus by $0.11. The company delivered a net margin of 28.6% and an ROE of 118.3%. Management set fiscal 2025 EPS guidance in a range of $2.66 to $2.70 and Q4 EPS between $0.73 and $0.75. Analysts currently model full-year EPS of $2.09 for the ongoing fiscal year.