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 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 | 8 | 10 | 18 | 1 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 3 | 3 | 7 | 0 | 0 |
| 2M Ago | 1 | 2 | 3 | 1 | 0 |
| 3M Ago | 4 | 5 | 7 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $107.16, a high estimate of $135.00, and a low estimate of $78.00. This upward trend is evident, with the current average reflecting a 13.3% increase from the previous average price target of $94.58.
Analyzing Analyst Ratings: A Detailed Breakdown
A clear picture of Fortinet's perception among financial experts is painted 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 | $110.00 | $90.00 |
| Dan Bergstrom | RBC Capital | Raises | Sector Perform | $115.00 | $97.00 |
| Jonathan Ruykhaver | Cantor Fitzgerald | Raises | Neutral | $115.00 | $110.00 |
| Gabriela Borges | Goldman Sachs | Raises | Buy | $130.00 | $114.00 |
| Patrick Colville | Scotiabank | Raises | Sector Outperform | $135.00 | $115.00 |
| Adam Borg | Stifel | Raises | Hold | $115.00 | $103.00 |
| Andrew Nowinski | Wells Fargo | Raises | Equal-Weight | $105.00 | $85.00 |
| Rob Owens | Piper Sandler | Raises | Overweight | $135.00 | $120.00 |
| Catharine Trebnick | Rosenblatt | Raises | Buy | $125.00 | $115.00 |
| Jonathan Ruykhaver | Cantor Fitzgerald | Raises | Neutral | $110.00 | $95.00 |
| Shrenik Kothari | Baird | Raises | Neutral | $112.00 | $105.00 |
| 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 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Fortinet. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Fortinet compared to the broader market.
- Price Targets: Gaining insights, analysts provide estimates for the future value of Fortinet's stock. This comparison reveals trends in analysts' expectations over time.
For valuable insights into Fortinet's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using 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 Insights: Fortinet
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Fortinet displayed positive results in 3 months. As of 30 September, 2024, the company achieved a solid revenue growth rate of approximately 13.0%. This indicates a notable 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 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 excels beyond industry benchmarks, reaching 6.39%. This signifies efficient management of assets and strong financial health.
Debt Management: Fortinet's debt-to-equity ratio is below the industry average at 1.09, reflecting a lower dependency on debt financing and a more conservative financial approach.
The Significance of Analyst Ratings Explained
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
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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