Wedbush Issues Pessimistic Estimate for Fortinet Earnings

Fortinet, Inc. (NASDAQ:FTNT) – Equities researchers at Wedbush decreased their Q2 2025 earnings per share (EPS) estimates for shares of Fortinet in a report released on Monday, November 18th. Wedbush analyst D. Ives now expects that the software maker will earn $0.48 per share for the quarter, down from their prior estimate of $0.49. Wedbush has a “Outperform” rating and a $105.00 price target on the stock. The consensus estimate for Fortinet’s current full-year earnings is $1.89 per share. Wedbush also issued estimates for Fortinet’s Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.63 EPS and FY2025 earnings at $2.10 EPS.

FTNT has been the subject of several other reports. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up from $85.00) on shares of Fortinet in a research note on Wednesday. Robert W. Baird raised their price target on Fortinet from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America raised their price target on Fortinet from $87.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday. Susquehanna raised their price target on Fortinet from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, UBS Group lifted their target price on Fortinet from $70.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $88.93.

Fortinet Price Performance

NASDAQ FTNT opened at $92.45 on Thursday. The stock has a market cap of $70.86 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 2.71 and a beta of 1.00. Fortinet has a 52-week low of $50.65 and a 52-week high of $100.59. The business has a 50 day simple moving average of $81.71 and a 200 day simple moving average of $69.89. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.25 and a current ratio of 1.34.

Institutional Investors Weigh In On Fortinet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Eagle Capital Management LLC increased its holdings in shares of Fortinet by 0.6% during the third quarter. Eagle Capital Management LLC now owns 25,772 shares of the software maker’s stock valued at $1,999,000 after acquiring an additional 141 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Fortinet by 3.9% during the third quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the software maker’s stock worth $293,000 after buying an additional 141 shares in the last quarter. Parallel Advisors LLC grew its holdings in Fortinet by 2.0% during the second quarter. Parallel Advisors LLC now owns 7,504 shares of the software maker’s stock worth $452,000 after buying an additional 148 shares in the last quarter. Crewe Advisors LLC grew its holdings in Fortinet by 8.8% during the third quarter. Crewe Advisors LLC now owns 1,958 shares of the software maker’s stock worth $152,000 after buying an additional 158 shares in the last quarter. Finally, Private Wealth Management Group LLC grew its holdings in Fortinet by 73.3% during the third quarter. Private Wealth Management Group LLC now owns 409 shares of the software maker’s stock worth $32,000 after buying an additional 173 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 23,307 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $81.89, for a total value of $1,908,610.23. Following the transaction, the chief executive officer now directly owns 48,915,530 shares of the company’s stock, valued at approximately $4,005,692,751.70. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith Jensen sold 4,250 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total value of $386,027.50. Following the sale, the chief financial officer now owns 4,689 shares of the company’s stock, valued at approximately $425,901.87. This represents a 47.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,095 shares of company stock valued at $4,058,575 over the last ninety days. 18.00% of the stock is owned by company insiders.

About Fortinet

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.