FortinetFTNT
Market Cap: $57.5B
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)
12% more repeat investments, than reductions
Existing positions increased: 418 | Existing positions reduced: 372
0.75% less ownership
Funds ownership: 66.95% [Q1] → 66.2% (-0.75%) [Q2]
4% less funds holding
Funds holding: 1,080 [Q1] → 1,033 (-47) [Q2]
9% less funds holding in top 10
Funds holding in top 10: 11 [Q1] → 10 (-1) [Q2]
12% less call options, than puts
Call options by funds: $395M | Put options by funds: $447M
13% less capital invested
Capital invested by funds: $34.9B [Q1] → $30.5B (-$4.38B) [Q2]
32% less first-time investments, than exits
New positions opened: 98 | Existing positions closed: 145
Research analyst outlook
20 Wall Street Analysts provided 1 year price targets over the past 3 months
20 analyst ratings
Susquehanna Shyam Patil 60% 1-year accuracy 34 / 57 met price target | 7%downside $70 | Neutral Maintained | 8 Aug 2024 |
Citigroup Fatima Boolani 40% 1-year accuracy 10 / 25 met price target | 12%downside $66 | Neutral Maintained | 7 Aug 2024 |
Scotiabank Patrick Colville 43% 1-year accuracy 12 / 28 met price target | 7%downside $70 | Sector Outperform Maintained | 7 Aug 2024 |
Cantor Fitzgerald Yi Fu Lee 38% 1-year accuracy 20 / 53 met price target | 14%downside $65 | Neutral Maintained | 7 Aug 2024 |
Deutsche Bank Brad Zelnick 30% 1-year accuracy 3 / 10 met price target | 0%downside $75 | Hold Maintained | 7 Aug 2024 |
Financial journalist opinion
Based on 22 articles about FTNT published over the past 30 days