35 analysts have shared their evaluations of Fortinet FTNT during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 9 | 10 | 14 | 2 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 4 | 4 | 9 | 1 | 0 |
| 2M Ago | 4 | 5 | 4 | 0 | 0 |
| 3M Ago | 1 | 0 | 1 | 1 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for Fortinet, presenting an average target of $94.46, a high estimate of $115.00, and a low estimate of $68.00. Observing a 15.28% increase, the current average has risen from the previous average price target of $81.94.
Interpreting Analyst Ratings: A Closer Look
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 |
|---|---|---|---|---|---|
| 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 |
| Saket Kalia | Barclays | Raises | Equal-Weight | $85.00 | $74.00 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Fortinet. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Fortinet compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Fortinet's stock. This comparison reveals trends in analysts' expectations over time.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Fortinet's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Fortinet analyst ratings.
Get to Know Fortinet Better
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 Insights: Fortinet
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Over the 3 months period, Fortinet showcased positive performance, achieving a revenue growth rate of 13.0% as of 30 September, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Fortinet's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 35.8%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Fortinet's ROE excels beyond industry benchmarks, reaching 90.26%. 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 6.39%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a high debt-to-equity ratio of 1.09, Fortinet faces challenges in effectively managing its debt levels, indicating potential financial strain.
Understanding the Relevance of Analyst Ratings
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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