Fortinet (NASDAQ:FTNT) Sets New 1-Year High – What’s Next?

Shares of Fortinet, Inc. (NASDAQ:FTNT) reached a new 52-week high during trading on Thursday . The company traded as high as $150.88 and last traded at $151.1770, with a volume of 1384399 shares changing hands. The stock had previously closed at $145.28.

Wall Street Analyst Weigh In

FTNT has been the subject of several recent analyst reports. Scotiabank raised their target price on shares of Fortinet from $85.00 to $110.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Robert W. Baird set a $115.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $107.00 price objective (up from $90.00) on shares of Fortinet in a research note on Thursday, May 7th. Arete Research set a $104.00 price objective on shares of Fortinet and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Mizuho boosted their target price on shares of Fortinet from $70.00 to $86.00 and gave the company an “underperform” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.77.

Fortinet Price Performance

The stock has a market capitalization of $110.89 billion, a PE ratio of 58.44, a P/E/G ratio of 4.10 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average is $123.02 and its 200 day moving average is $95.61.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, equities analysts predict that Fortinet, Inc. will post 2.78 earnings per share for the current year.

Insider Activity at Fortinet

In other news, CEO Ken Xie sold 160,632 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the completion of the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Fortinet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTNT. Expressive Wealth LLC bought a new position in shares of Fortinet in the fourth quarter valued at approximately $646,000. Trilogy Capital Inc. boosted its holdings in shares of Fortinet by 46.8% during the 4th quarter. Trilogy Capital Inc. now owns 44,152 shares of the software maker’s stock worth $3,506,000 after buying an additional 14,076 shares during the period. Leonteq Securities AG bought a new stake in shares of Fortinet during the 4th quarter worth $10,422,000. Eurizon Capital SGR S.p.A. acquired a new position in Fortinet in the 4th quarter valued at $14,638,000. Finally, Thrivent Financial for Lutherans grew its stake in Fortinet by 156.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 390,492 shares of the software maker’s stock valued at $31,009,000 after buying an additional 238,299 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

Fortinet Company Profile

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.