In the latest quarter, 20 analysts provided ratings for Fortinet FTNT, showcasing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 3 | 12 | 1 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 1 | 1 | 0 |
| 2M Ago | 0 | 0 | 1 | 0 | 0 |
| 3M Ago | 2 | 3 | 10 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $73.5, a high estimate of $90.00, and a low estimate of $64.00. This current average reflects an increase of 6.83% from the previous average price target of $68.80.
Decoding Analyst Ratings: A Detailed Look
In examining recent analyst actions, we gain insights into how financial experts perceive Fortinet. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Joel Fishbein | Truist Securities | Raises | Buy | $85.00 | $70.00 |
| Gregg Moskowitz | Mizuho | Maintains | Underperform | $68.00 | $68.00 |
| Shaul Eyal | TD Cowen | Raises | Buy | $90.00 | $75.00 |
| Saket Kalia | Barclays | Raises | Equal-Weight | $85.00 | $74.00 |
| Fatima Boolani | Citigroup | Raises | Neutral | $76.00 | $66.00 |
| Shyam Patil | Susquehanna | Raises | Neutral | $70.00 | $65.00 |
| Fatima Boolani | Citigroup | Raises | Neutral | $66.00 | $65.00 |
| Patrick Colville | Scotiabank | Raises | Sector Outperform | $75.00 | $61.00 |
| Yi Fu Lee | Cantor Fitzgerald | Raises | Neutral | $65.00 | $55.00 |
| Brad Zelnick | Deutsche Bank | Raises | Hold | $75.00 | $71.00 |
| Brian Essex | JP Morgan | Raises | Neutral | $70.00 | $63.00 |
| Dan Bergstrom | RBC Capital | Raises | Sector Perform | $72.00 | $68.00 |
| Shrenik Kothari | Baird | Raises | Outperform | $80.00 | $75.00 |
| Daniel Ives | Wedbush | Maintains | Outperform | $78.00 | $78.00 |
| Keith Bachman | BMO Capital | Raises | Market Perform | $76.00 | $70.00 |
| Roger Boyd | UBS | Raises | Neutral | $70.00 | $69.00 |
| Andrew Nowinski | Wells Fargo | Raises | Equal-Weight | $64.00 | $62.00 |
| Catharine Trebnick | Rosenblatt | Raises | Buy | $72.00 | $68.00 |
| Catharine Trebnick | Rosenblatt | Lowers | Buy | $68.00 | $85.00 |
| Fatima Boolani | Citigroup | Lowers | Neutral | $65.00 | $68.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Fortinet. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Fortinet compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Fortinet's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
Capture valuable insights into Fortinet's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Fortinet analyst ratings.
Delving into Fortinet's Background
Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.
Fortinet: Delving into Financials
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Fortinet's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 10.95%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 26.48%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Fortinet's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 504.05%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 4.83%, the company showcases effective utilization of assets.
Debt Management: With a high debt-to-equity ratio of 3.45, Fortinet faces challenges in effectively managing its debt levels, indicating potential financial strain.
The Significance of Analyst Ratings Explained
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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