Fortinet (NASDAQ:FTNT) Given New $205.00 Price Target at Royal Bank Of Canada

Fortinet (NASDAQ:FTNT) had its price objective boosted by Royal Bank Of Canada from $185.00 to $205.00 in a research note issued to investors on Monday, MarketBeat reports. Royal Bank Of Canada currently has a sector perform rating on the software maker’s stock.

FTNT has been the subject of a number of other research reports. Rosenblatt Securities increased their target price on Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Scotiabank reaffirmed a “sector perform” rating and issued a $163.00 target price (up from $110.00) on shares of Fortinet in a research report on Thursday, July 30th. Robert W. Baird set a $165.00 price target on Fortinet and gave the company a “neutral” rating in a report on Thursday, July 30th. Capital One Financial lifted their price target on Fortinet from $150.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, HSBC upped their price target on Fortinet from $102.00 to $107.00 in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-one have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $156.51.

Fortinet Stock Down 0.9%

Shares of NASDAQ:FTNT opened at $192.94 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a market cap of $141.56 billion, a PE ratio of 67.94, a price-to-earnings-growth ratio of 3.64 and a beta of 1.03. Fortinet has a 52 week low of $73.55 and a 52 week high of $196.87. The firm has a 50 day simple moving average of $167.86 and a 200 day simple moving average of $140.42.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $0.64 EPS. The company’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. As a group, research analysts expect that Fortinet will post 3.10 earnings per share for the current year.

Insider Activity at Fortinet

In other Fortinet news, CEO Ken Xie sold 161,482 shares of Fortinet stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This trade represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 3,121 shares of Fortinet stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $162.63, for a total transaction of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares of the company’s stock, valued at $1,613,022,886.80. This trade represents a 0.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 221,303 shares of company stock valued at $36,164,034. Corporate insiders own 17.60% of the company’s stock.

Institutional Trading of Fortinet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs & Co. CA acquired a new stake in Fortinet during the third quarter valued at $223,000. Schaper Benz & Wise Investment Counsel Inc. WI purchased a new position in Fortinet in the third quarter valued at about $227,000. Davidson Trust Co. purchased a new position in Fortinet in the third quarter valued at about $206,000. Bullock Wealth Management Group grew its stake in Fortinet by 1.2% in the third quarter. Bullock Wealth Management Group now owns 8,717 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 102 shares in the last quarter. Finally, Riversedge Advisors LLC increased its position in Fortinet by 34.3% in the 3rd quarter. Riversedge Advisors LLC now owns 4,980 shares of the software maker’s stock worth $890,000 after purchasing an additional 1,271 shares during the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

About Fortinet

Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company’s portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.

Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.

Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.