Fortinet (NASDAQ:FTNT) Posts Earnings Results, Beats Expectations By $0.07 EPS

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

Fortinet Trading Up 2.5 %

NASDAQ:FTNT opened at $107.30 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.09. Fortinet has a twelve month low of $54.57 and a twelve month high of $112.20. The company has a market cap of $82.24 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 2.65 and a beta of 1.01. The business has a 50 day moving average price of $97.13 and a two-hundred day moving average price of $84.21.

Insider Activity

In related news, CEO Ken Xie sold 23,044 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $93.32, for a total transaction of $2,150,466.08. Following the sale, the chief executive officer now owns 49,039,698 shares in the company, valued at approximately $4,576,384,617.36. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Neukom purchased 355 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was bought at an average price of $98.50 per share, with a total value of $34,967.50. Following the completion of the purchase, the director now owns 150,245 shares of the company’s stock, valued at approximately $14,799,132.50. This represents a 0.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 67,860 shares of company stock worth $6,469,056 over the last ninety days. Insiders own 18.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD Cowen upped their target price on shares of Fortinet from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Needham & Company LLC restated a “hold” rating on shares of Fortinet in a report on Friday. Rosenblatt Securities lifted their target price on shares of Fortinet from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets increased their price target on Fortinet from $88.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $135.00 price objective (up from $120.00) on shares of Fortinet in a research note on Friday. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $98.57.

Fortinet Company Profile

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.