Analysts' ratings for Fortinet FTNT over the last quarter vary from bullish to bearish, as provided by 8 analysts.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 1 | 3 | 1 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 3 | 0 | 1 | 1 | 0 |
| 2M Ago | 0 | 0 | 2 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $83.12, a high estimate of $90.00, and a low estimate of $68.00. This upward trend is evident, with the current average reflecting a 16.66% increase from the previous average price target of $71.25.
Exploring Analyst Ratings: An In-Depth Overview
An in-depth analysis of recent analyst actions unveils 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 |
|---|---|---|---|---|---|
| Shrenik Kothari | Baird | Raises | Outperform | $88.00 | $80.00 |
| Catharine Trebnick | Rosenblatt | Raises | Buy | $85.00 | $72.00 |
| Yi Fu Lee | Cantor Fitzgerald | Raises | Neutral | $88.00 | $65.00 |
| 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 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Fortinet. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Fortinet compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for Fortinet's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
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.
Unraveling the Financial Story of Fortinet
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Fortinet's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 10.95%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
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 ROE excels beyond industry benchmarks, reaching 504.05%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Fortinet's ROA stands out, surpassing industry averages. With an impressive ROA of 4.83%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Fortinet's debt-to-equity ratio stands notably higher than the industry average, reaching 3.45. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
Analyst Ratings: Simplified
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.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. Click here to stay ahead of the market.
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.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
