Fortinet (FTNT) Projected to Post Quarterly Earnings on Wednesday

Fortinet (NASDAQ:FTNT) is projected to post its Q1 2025 quarterly earnings results after the market closes on Wednesday, May 7th. Analysts expect Fortinet to post earnings of $0.53 per share and revenue of $1.54 billion for the quarter. Fortinet has set its Q1 2025 guidance at 0.520-0.540 EPS and its FY 2025 guidance at 2.410-2.470 EPS.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings data on Thursday, February 6th. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Fortinet had a return on equity of 256.53% and a net margin of 29.30%. On average, analysts expect Fortinet to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortinet Stock Up 1.9 %

FTNT stock opened at $106.18 on Monday. The stock has a 50-day simple moving average of $98.64 and a two-hundred day simple moving average of $96.81. Fortinet has a twelve month low of $54.57 and a twelve month high of $114.82. The firm has a market capitalization of $81.65 billion, a PE ratio of 46.98, a PEG ratio of 4.19 and a beta of 1.09. The company has a quick ratio of 1.39, a current ratio of 1.47 and a debt-to-equity ratio of 0.67.

Analysts Set New Price Targets

A number of analysts recently weighed in on FTNT shares. Jefferies Financial Group decreased their target price on shares of Fortinet from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Raymond James reaffirmed a “market perform” rating on shares of Fortinet in a report on Tuesday, January 14th. Guggenheim reissued a “neutral” rating on shares of Fortinet in a research note on Friday, February 7th. Stifel Nicolaus upped their target price on Fortinet from $103.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, February 7th. Finally, Morgan Stanley dropped their price target on Fortinet from $123.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.03.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 206,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $96.93, for a total transaction of $19,967,580.00. Following the completion of the sale, the chief executive officer now directly owns 51,391,879 shares in the company, valued at $4,981,414,831.47. This represents a 0.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Keith Jensen sold 23,500 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.56, for a total transaction of $2,668,660.00. Following the sale, the chief financial officer now directly owns 4,736 shares of the company’s stock, valued at $537,820.16. The trade was a 83.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 576,944 shares of company stock worth $56,944,064 in the last ninety days. 18.00% of the stock is owned by company insiders.

Institutional Trading of Fortinet

A hedge fund recently raised its stake in Fortinet stock. Brighton Jones LLC raised its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,327 shares of the software maker’s stock after buying an additional 221 shares during the quarter. Brighton Jones LLC’s holdings in Fortinet were worth $976,000 at the end of the most recent quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.