In the preceding three months, 21 analysts have released ratings for Fortinet FTNT, presenting a wide array of perspectives from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 5 | 11 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 3 | 4 | 10 | 0 | 0 |
| 2M Ago | 2 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 1 | 0 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $72.57, a high estimate of $85.00, and a low estimate of $64.00. Observing a 2.57% increase, the current average has risen from the previous average price target of $70.75.
Breaking Down Analyst Ratings: A Detailed Examination
The standing of Fortinet among financial experts becomes clear 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 |
|---|---|---|---|---|---|
| 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 |
| Shaul Eyal | TD Cowen | Announces | Buy | $75.00 | - |
| Hamza Fodderwala | Morgan Stanley | Lowers | Overweight | $69.00 | $73.00 |
| Saket Kalia | Barclays | Lowers | Equal-Weight | $70.00 | $75.00 |
| Raymond McDonough | Guggenheim | Maintains | Buy | $81.00 | $81.00 |
| Catharine Trebnick | Rosenblatt | Maintains | Buy | $85.00 | $85.00 |
| Daniel Ives | Wedbush | Maintains | Outperform | $78.00 | $78.00 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Fortinet. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Fortinet compared to the broader market.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
To gain a panoramic view of Fortinet's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on Fortinet analyst ratings.
All You Need to Know 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 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.
Positive Revenue Trend: Examining Fortinet's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 5.99% as of 30 June, 2024, showcasing a substantial increase in 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: Fortinet's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 26.48%, the company showcases strong profitability and effective cost management.
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: 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.
What Are 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.
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.
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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