FortinetFTNT
About: 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.
Employees: 13,527
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
13% more repeat investments, than reductions
Existing positions increased: 421 | Existing positions reduced: 373
0.74% less ownership
Funds ownership: 66.95% [Q1] → 66.21% (-0.74%) [Q2]
4% less funds holding
Funds holding: 1,081 [Q1] → 1,040 (-41) [Q2]
9% less funds holding in top 10
Funds holding in top 10: 11 [Q1] → 10 (-1) [Q2]
11% less call options, than puts
Call options by funds: $396M | Put options by funds: $447M
13% less capital invested
Capital invested by funds: $34.9B [Q1] → $30.5B (-$4.37B) [Q2]
29% less first-time investments, than exits
New positions opened: 101 | Existing positions closed: 142
Research analyst outlook
19 Wall Street Analysts provided 1 year price targets over the past 3 months
19 analyst ratings
Mizuho Gregg Moskowitz 51% 1-year accuracy 20 / 39 met price target | 17%downside $68 | Underperform Downgraded | 17 Oct 2024 |
TD Cowen Shaul Eyal 87% 1-year accuracy 13 / 15 met price target | 10%upside $90 | Buy Maintained | 9 Oct 2024 |
Barclays Saket Kalia 76% 1-year accuracy 29 / 38 met price target | 4%upside $85 | Equal-Weight Maintained | 7 Oct 2024 |
Citigroup Fatima Boolani 63% 1-year accuracy 15 / 24 met price target | 7%downside $76 | Neutral Maintained | 13 Sept 2024 |
Susquehanna Shyam Patil 78% 1-year accuracy 43 / 55 met price target | 14%downside $70 | Neutral Maintained | 8 Aug 2024 |
Financial journalist opinion
Based on 20 articles about FTNT published over the past 30 days
