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

Fortinet (NASDAQ:FTNT) posted its earnings results on Thursday. The software maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07, Zacks reports. Fortinet had a net margin of 29.30% and a return on equity of 463.85%. Fortinet updated its Q1 2025 guidance to 0.520-0.540 EPS and its FY 2025 guidance to 2.410-2.470 EPS.

Fortinet Stock Performance

Shares of FTNT opened at $107.66 on Friday. The firm has a market capitalization of $82.52 billion, a P/E ratio of 47.64, a P/E/G ratio of 2.75 and a beta of 1.01. Fortinet has a 52 week low of $54.57 and a 52 week high of $110.53. The stock has a 50 day moving average price of $97.38 and a two-hundred day moving average price of $84.56. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34.

Insider Activity

In other Fortinet news, CEO Ken Xie sold 23,044 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $93.32, for a total value of $2,150,466.08. Following the completion of the sale, the chief executive officer now owns 49,039,698 shares in the company, valued at approximately $4,576,384,617.36. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William H. Neukom bought 355 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price of $98.50 per share, for a total transaction of $34,967.50. Following the purchase, the director now directly owns 150,245 shares in the company, valued at approximately $14,799,132.50. The trade was 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 90 days. 18.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FTNT shares. Baird R W lowered shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. HSBC upgraded Fortinet from a “hold” rating to a “buy” rating and upped their price target for the company from $83.00 to $111.00 in a research report on Monday, November 11th. Stifel Nicolaus raised their price objective on Fortinet from $103.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up from $85.00) on shares of Fortinet in a report on Wednesday, November 20th. Finally, Raymond James restated a “market perform” rating on shares of Fortinet in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Fortinet has a consensus rating of “Hold” and a consensus target price of $101.43.

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.