In the last three months, 37 analysts have published ratings on Fortinet FTNT, offering a diverse range of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 9 | 12 | 15 | 1 | 0 |
| Last 30D | 0 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 2 | 1 | 0 | 0 |
| 2M Ago | 0 | 1 | 3 | 1 | 0 |
| 3M Ago | 7 | 9 | 11 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $98.59, a high estimate of $120.00, and a low estimate of $78.00. Marking an increase of 14.35%, the current average surpasses the previous average price target of $86.22.
Analyzing Analyst Ratings: A Detailed Breakdown
The analysis of recent analyst actions sheds light on the perception of Fortinet by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Catharine Trebnick | Rosenblatt | Raises | Buy | $115.00 | $100.00 |
| Patrick Colville | Scotiabank | Raises | Sector Outperform | $115.00 | $110.00 |
| Fatima Boolani | Citigroup | Raises | Neutral | $101.00 | $100.00 |
| 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 |
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: Analysts gauge the dynamics of price targets, providing estimates for the future value of Fortinet's stock. This comparison reveals trends in analysts' expectations over time.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Fortinet's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Fortinet analyst ratings.
About Fortinet
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.
Financial Milestones: Fortinet's Journey
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests 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 surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 35.8% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 90.26%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Fortinet's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.39% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Fortinet's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.09.
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.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
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