Fortinet (FTNT)

• Market cap: $76.1B
• 1 day: -1.46%
• 5 days: 2.28%
• 1 month: -7.05%
• 3 months: 3.60%
• 6 months: 28.52%
• Year to date: 5.06%
• 1 year: 47.97%
• 5 years: 411.51%
• 10 years: 1,338.44%
• Sector: Information Technology
• Industry: Computer Peripheral Equipment

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

276% more first-time investments, than exits

New positions opened: 237 | Existing positions closed: 63

33% more funds holding in top 10

Funds holding in top 10: 21 [Q3] → 28 (+7) [Q4]

25% more capital invested

Capital invested by funds: $39B [Q3] → $48.8B (+$9.88B) [Q4]

14% more funds holding

Funds holding: 1,103 [Q3] → 1,253 (+150) [Q4]

1.72% more ownership

Funds ownership: 65.37% [Q3] → 67.09% (+1.72%) [Q4]

9% more repeat investments, than reductions

Existing positions increased: 444 | Existing positions reduced: 408

18% less call options, than puts

Call options by funds: $679M | Put options by funds: $824M

Research analyst outlook

12 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $101 1% upside
• Avg. target: $118 19% upside
• High target: $135 36% upside

12 analyst ratings

• positive: 5 42%
• neutral: 7 58%
• negative: 0 0%

Morgan Stanley Hamza Fodderwala 75% 1-year accuracy 18 / 24 met price target	24% upside $123	Overweight Maintained	18 Mar 2025
Susquehanna Shyam Patil 64% 1-year accuracy 30 / 47 met price target	11% upside $110	Neutral Maintained	10 Feb 2025
RBC Capital Dan Bergstrom 44% 1-year accuracy 4 / 9 met price target	16% upside $115	Sector Perform Maintained	7 Feb 2025
Cantor Fitzgerald Jonathan Ruykhaver 56% 1-year accuracy 9 / 16 met price target	16% upside $115	Neutral Maintained	7 Feb 2025
Goldman Sachs Gabriela Borges 52% 1-year accuracy 15 / 29 met price target	31% upside $130	Buy Maintained	7 Feb 2025