20 Analysts Assess Fortinet: What You Need To Know

During the last three months, 20 analysts shared their evaluations of Fortinet FTNT, revealing diverse outlooks from bullish to bearish.

Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.

Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $72.05, a high estimate of $85.00, and a low estimate of $64.00. This upward trend is evident, with the current average reflecting a 4.42% increase from the previous average price target of $69.00.

Decoding Analyst Ratings: A Detailed Look

The standing of Fortinet among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

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 insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Fortinet compared to the broader market.
• Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Fortinet's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.

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.

Breaking Down Fortinet's Financial Performance

Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.

Revenue Growth: Fortinet displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 10.95%. This indicates a notable increase in the company's 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 net margin is impressive, surpassing industry averages. With a net margin of 26.48%, the company demonstrates strong profitability and effective cost management.

Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 504.05%, the company showcases effective utilization of equity capital.

Return on Assets (ROA): Fortinet's ROA excels beyond industry benchmarks, reaching 4.83%. This signifies efficient management of assets and strong financial health.

Debt Management: With a high debt-to-equity ratio of 3.45, Fortinet faces challenges in effectively managing its debt levels, indicating potential financial strain.

How Are Analyst Ratings Determined?

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

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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This article was generated by Benzinga's automated content engine and reviewed by an editor.