FTNT stock icon

Fortinet
FTNT

$57.94
0.87%

Market Cap: 44.3B

 

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: 13,522

0
Funds holding %
of 6,702 funds
0
Analysts bullish %
of 45 analysts
0
News positive %
of 28 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

25% more first-time investments, than exits

New positions opened: 159 | Existing positions closed: 127

20% more capital invested

Capital invested by funds: $28.5B [Q4 2023] → $34.1B (+$5.64B) [Q1 2024]

3% more funds holding

Funds holding: 1,029 [Q4 2023] → 1,061 (+32) [Q1 2024]

2.16% more ownership

Funds ownership: 63.38% [Q4 2023] → 65.54% (+2.16%) [Q1 2024]

4% less repeat investments, than reductions

Existing positions increased: 372 | Existing positions reduced: 388

9% less call options, than puts

Call options by funds: $455M | Put options by funds: $498M

15% less funds holding in top 10

Funds holding in top 10: 13 [Q4 2023] → 11 (-2) [Q1 2024]

Research analyst outlook

45 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target
$54
7%
downside
Avg. target
$74
27%
upside
High target
$90
55%
upside

45 analyst ratings

19 positive
42%
23 neutral
51%
negative
7%
TD Cowen
Shaul Eyal
29%upside
$75
Buy
Upgraded
18 Jul 2024
Morgan Stanley
Hamza Fodderwala
19%upside
$69
Overweight
Maintained
17 Jul 2024
Barclays
Saket Kalia
21%upside
$70
Equal-Weight
Maintained
11 Jul 2024
Guggenheim
Raymond McDonough
40%upside
$81
Buy
Reiterated
25 Jun 2024
Rosenblatt
Catharine Trebnick
47%upside
$85
Buy
Maintained
11 Jun 2024

Financial journalist opinion

Based on 28 articles about FTNT published over the past 30 days