Fortinet FTNT underwent analysis by 20 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| 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 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $73.5, a high estimate of $90.00, and a low estimate of $64.00. Marking an increase of 6.83%, the current average surpasses the previous average price target of $68.80.
Analyzing Analyst Ratings: A Detailed Breakdown
A clear picture of Fortinet's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below 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: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Fortinet. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Fortinet compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of Fortinet's stock. This comparison reveals trends in analysts' expectations over time.
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Fortinet's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
Stay up to date on Fortinet analyst ratings.
Discovering Fortinet: A Closer Look
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.
Breaking Down Fortinet's Financial Performance
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Fortinet showcased positive performance, achieving a revenue growth rate of 10.95% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Fortinet's net margin excels beyond industry benchmarks, reaching 26.48%. This signifies efficient cost management and strong financial health.
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): Fortinet's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 4.83% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 3.45, caution is advised due to increased financial risk.
The Basics of Analyst Ratings
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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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