Cantor Fitzgerald Comments on Fortinet FY2026 Earnings

Fortinet, Inc. (NASDAQ:FTNT) – Investment analysts at Cantor Fitzgerald issued their FY2026 earnings per share (EPS) estimates for Fortinet in a research note issued to investors on Monday, June 9th. Cantor Fitzgerald analyst J. Ruykhaver forecasts that the software maker will post earnings per share of $2.52 for the year. Cantor Fitzgerald currently has a “Neutral” rating and a $100.00 price objective on the stock. The consensus estimate for Fortinet’s current full-year earnings is $2.09 per share.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 7th. The software maker reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Fortinet had a net margin of 29.30% and a return on equity of 256.53%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis.

FTNT has been the topic of a number of other reports. Susquehanna increased their price target on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Robert W. Baird boosted their price objective on Fortinet from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. KeyCorp lowered their target price on Fortinet from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Morgan Stanley reduced their price target on shares of Fortinet from $123.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Stephens began coverage on shares of Fortinet in a report on Tuesday, April 1st. They set an “equal weight” rating and a $108.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $104.80.

Fortinet Price Performance

Shares of Fortinet stock opened at $102.08 on Tuesday. Fortinet has a 1-year low of $54.57 and a 1-year high of $114.82. The firm’s 50-day moving average price is $100.26 and its two-hundred day moving average price is $99.94. The company has a current ratio of 1.47, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $78.13 billion, a price-to-earnings ratio of 45.17, a P/E/G ratio of 4.19 and a beta of 1.06.

Hedge Funds Weigh In On Fortinet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Fortinet during the 4th quarter worth $724,048,000. Schroder Investment Management Group bought a new stake in shares of Fortinet in the fourth quarter worth about $389,867,000. Vanguard Group Inc. raised its position in shares of Fortinet by 5.2% during 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 period. FMR LLC raised its position in shares of Fortinet by 77.2% during the fourth quarter. FMR LLC now owns 6,531,705 shares of the software maker’s stock worth $617,115,000 after purchasing an additional 2,846,475 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Fortinet by 39.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,622,253 shares of the software maker’s stock valued at $720,150,000 after purchasing an additional 2,151,811 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Kenneth A. Goldman sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the sale, the director now directly owns 18,612 shares of the company’s stock, valued at $1,861,200. This represents a 9.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William H. Neukom purchased 335 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average price of $104.22 per share, for a total transaction of $34,913.70. Following the completion of the transaction, the director now directly owns 301,471 shares in the company, valued at $31,419,307.62. This trade represents a 0.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 164,034 shares of company stock worth $17,391,843. Insiders own 17.20% 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.