Providing a diverse range of perspectives from bullish to bearish, 20 analysts have published ratings on Fortinet FTNT in the last three months.
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 | 4 | 4 | 12 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 3 | 4 | 10 | 0 | 0 |
| 3M Ago | 1 | 0 | 1 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $71.85, a high estimate of $81.00, and a low estimate of $64.00. This upward trend is evident, with the current average reflecting a 3.58% increase from the previous average price target of $69.37.
Breaking Down Analyst Ratings: A Detailed Examination
The analysis of recent analyst actions sheds light on the perception of Fortinet by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Fatima Boolani | Citigroup | Raises | Neutral | $76.00 | $66.00 |
| 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 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they ‘Maintain’, ‘Raise’ or ‘Lower’ their stance, it reflects their response to recent developments related to Fortinet. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from ‘Outperform’ to ‘Underperform’. These ratings convey the analysts’ expectations for the relative performance of Fortinet compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for Fortinet’s future value. Examining the current and prior targets provides insight into analysts’ changing expectations.
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.
Understanding the Numbers: Fortinet’s Finances
Market Capitalization Analysis: Reflecting a smaller scale, the company’s market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Fortinet’s revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 10.95%. This indicates a substantial increase in the company’s top-line earnings. In comparison to its industry peers, the company trails behind 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 26.48%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Fortinet’s ROE surpasses industry standards, highlighting the company’s exceptional financial performance. With an impressive 504.05% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Fortinet’s ROA stands out, surpassing industry averages. With an impressive ROA of 4.83%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 3.45, caution is advised due to increased financial risk.
The Significance of Analyst Ratings Explained
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.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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