Fortinet (NASDAQ:FTNT) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Fortinet (NASDAQ:FTNT) announced its earnings results on Thursday. The software maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07, Zacks reports. Fortinet had a net margin of 26.79% and a return on equity of 973.30%. Fortinet updated its Q1 2025 guidance to 0.520-0.540 EPS and its FY 2025 guidance to 2.410-2.470 EPS.

Fortinet Price Performance

Shares of Fortinet stock traded down $0.35 during trading on Thursday, hitting $104.72. The stock had a trading volume of 6,452,520 shares, compared to its average volume of 4,155,724. The firm has a market cap of $80.26 billion, a price-to-earnings ratio of 52.89, a P/E/G ratio of 2.65 and a beta of 1.01. Fortinet has a 12 month low of $54.57 and a 12 month high of $105.82. The business’s 50-day moving average is $96.92 and its 200 day moving average is $84.07. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FTNT shares. UBS Group upped their price target on Fortinet from $70.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their target price on Fortinet from $77.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, November 19th. Wells Fargo & Company increased their price target on Fortinet from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 19th. TD Cowen increased their price objective on Fortinet from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group raised their price target on Fortinet from $100.00 to $114.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $97.73.

Insider Buying and Selling

In related news, Director William H. Neukom bought 355 shares of the business’s stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $98.50 per share, with a total value of $34,967.50. Following the transaction, the director now owns 150,245 shares in the company, valued at approximately $14,799,132.50. This trade represents a 0.24 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Keith Jensen sold 4,250 shares of Fortinet stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.83, for a total transaction of $386,027.50. Following the completion of the sale, the chief financial officer now directly owns 4,689 shares of the company’s stock, valued at approximately $425,901.87. This trade represents a 47.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,860 shares of company stock worth $6,469,056. Corporate insiders own 18.00% 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.