Fortinet (NASDAQ:FTNT) Hits New 12-Month High – Time to Buy?

Fortinet, Inc. (NASDAQ:FTNT) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $163.57 and last traded at $162.35, with a volume of 5161813 shares traded. The stock had previously closed at $156.25.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet is being highlighted as a major beneficiary of AI-related demand, with commentary pointing to its shares being up sharply year to date and continuing to draw investor attention as a cybersecurity AI winner. Fortinet Up 100% YTD from AI Demand
• Positive Sentiment: Multiple articles say FTNT’s big run has been powered by strong fiscal Q1 2026 results, and that investors are now willing to pay up for its AI/security growth potential. Fortinet (FTNT) Gains More Than 104% in 6 Months, Can It Go Higher?
• Positive Sentiment: Coverage from Trefis argues Fortinet’s rally reflects an internal “growth engine” beyond headline numbers, reinforcing the view that the company is building a stronger long-term AI-driven business model. What Fortinet Stock Was Telling Wall Street About AI Before It Doubled
• Neutral Sentiment: One market recap noted FTNT fell more steeply than the broader market in the latest session, reflecting near-term volatility after a strong multi-month advance. Fortinet (FTNT) Falls More Steeply Than Broader Market: What Investors Need to Know
• Neutral Sentiment: FTNT also hit a new 1-year high, which may support bullish momentum, but it can also make valuation more of a focus for investors after the recent surge. Fortinet (NASDAQ:FTNT) Hits New 1-Year High – Here’s What Happened

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FTNT. Compass Point set a $100.00 price objective on shares of Fortinet in a report on Monday, May 4th. UBS Group increased their target price on shares of Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. BTIG Research boosted their price target on shares of Fortinet from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Citigroup upped their price objective on Fortinet from $90.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, BMO Capital Markets increased their price objective on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-four have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortinet has a consensus rating of “Hold” and a consensus price target of $107.58.

Fortinet Trading Down 1.2%

The firm has a market capitalization of $114.81 billion, a price-to-earnings ratio of 60.51, a PEG ratio of 4.33 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The company has a 50-day moving average price of $134.75 and a 200-day moving average price of $99.96.

Fortinet (NASDAQ:FTNT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.82 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. 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, research analysts forecast that Fortinet, Inc. will post 2.79 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Fortinet

Several institutional investors have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC lifted its position in Fortinet by 53.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker’s stock worth $33,000 after acquiring an additional 75 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Fortinet during the third quarter worth $25,000. Wexford Capital LP acquired a new stake in shares of Fortinet during the third quarter worth $25,000. Physician Wealth Advisors Inc. grew its position in Fortinet by 408.3% in the 1st quarter. Physician Wealth Advisors Inc. now owns 305 shares of the software maker’s stock valued at $25,000 after buying an additional 245 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new position in Fortinet in the 3rd quarter valued at $28,000. Institutional investors and hedge funds 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.