Across the recent three months, 37 analysts have shared their insights on Fortinet FTNT, expressing a variety of opinions spanning 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 | 10 | 11 | 14 | 2 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 3 | 1 | 0 |
| 2M Ago | 6 | 9 | 10 | 0 | 0 |
| 3M Ago | 3 | 0 | 1 | 1 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $96.22, a high estimate of $120.00, and a low estimate of $68.00. This upward trend is apparent, with the current average reflecting a 15.19% increase from the previous average price target of $83.53.
Diving into Analyst Ratings: An In-Depth Exploration
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 |
|---|---|---|---|---|---|
| Rob Owens | Piper Sandler | Raises | Overweight | $120.00 | $100.00 |
| Gabriela Borges | Goldman Sachs | Raises | Buy | $114.00 | $100.00 |
| Joseph Gallo | Jefferies | Raises | Hold | $105.00 | $95.00 |
| Eric Heath | Keybanc | Announces | Overweight | $115.00 | - |
| Adam Borg | Stifel | Raises | Hold | $103.00 | $90.00 |
| Brian Essex | JP Morgan | Raises | Neutral | $105.00 | $99.00 |
| Gregg Moskowitz | Mizuho | Raises | Underperform | $78.00 | $68.00 |
| Joel Fishbein | Truist Securities | Raises | Buy | $105.00 | $85.00 |
| Patrick Colville | Scotiabank | Raises | Sector Outperform | $110.00 | $85.00 |
| Catharine Trebnick | Rosenblatt | Raises | Buy | $100.00 | $90.00 |
| Tal Liani | B of A Securities | Raises | Buy | $104.00 | $87.00 |
| Daniel Ives | Wedbush | Raises | Outperform | $105.00 | $90.00 |
| Rob Owens | Piper Sandler | Raises | Neutral | $100.00 | $80.00 |
| Shaul Eyal | TD Cowen | Raises | Buy | $105.00 | $90.00 |
| Keith Bachman | BMO Capital | Raises | Market Perform | $100.00 | $88.00 |
| Dan Bergstrom | RBC Capital | Raises | Sector Perform | $97.00 | $82.00 |
| Andrew Nowinski | Wells Fargo | Raises | Equal-Weight | $85.00 | $80.00 |
| Adam Borg | Stifel | Raises | Hold | $90.00 | $84.00 |
| Jonathan Ruykhaver | Cantor Fitzgerald | Raises | Neutral | $95.00 | $88.00 |
| Shrenik Kothari | Baird | Raises | Outperform | $100.00 | $95.00 |
| Hamza Fodderwala | Morgan Stanley | Raises | Overweight | $106.00 | $105.00 |
| Brad Zelnick | Deutsche Bank | Raises | Hold | $90.00 | $77.00 |
| Shrenik Kothari | Baird | Raises | Outperform | $95.00 | $88.00 |
| Stephen Bersey | HSBC | Raises | Buy | $111.00 | $83.00 |
| Catharine Trebnick | Rosenblatt | Raises | Buy | $90.00 | $85.00 |
| Saket Kalia | Barclays | Raises | Equal-Weight | $95.00 | $85.00 |
| Adam Tindle | Raymond James | Raises | Outperform | $95.00 | $85.00 |
| Roger Boyd | UBS | Raises | Neutral | $83.00 | $70.00 |
| Daniel Ives | Wedbush | Raises | Outperform | $90.00 | $78.00 |
| Patrick Colville | Scotiabank | Raises | Sector Outperform | $85.00 | $75.00 |
| Rob Owens | Piper Sandler | Raises | Neutral | $80.00 | $70.00 |
| 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 |
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: 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: Delving into movements, analysts provide estimates for the future value of Fortinet's stock. This analysis reveals shifts 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.
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: Financial Performance Dissected
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Revenue Growth: Fortinet's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 13.0%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Fortinet's net margin excels beyond industry benchmarks, reaching 35.8%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Fortinet's ROE stands out, surpassing industry averages. With an impressive ROE of 90.26%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Fortinet's ROA stands out, surpassing industry averages. With an impressive ROA of 6.39%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Fortinet's debt-to-equity ratio surpasses industry norms, standing at 1.09. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
The Core of Analyst Ratings: What Every Investor Should Know
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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