Fortinet's stock quote has been on a steady rise, thanks in part to its impressive growth potential. The company has been expanding its cybersecurity offerings to meet the increasing demands of businesses and governments.
Fortinet's revenue has consistently increased over the years, with a growth rate of 20% in 2020. This is a testament to the company's ability to innovate and adapt to the ever-changing cybersecurity landscape.
The company's strong financials and growing customer base have contributed to its stock price appreciation. Fortinet's stock has been steadily increasing in value, making it an attractive option for investors.
Fortinet's commitment to research and development has led to the creation of innovative products and services, such as its Secure Access Service Edge (SASE) solution. This has helped the company stay ahead of the competition and maintain its market share.
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Financial Analysis
Fortinet's revenue in 2023 was $5.30 billion, a 20.09% increase from the previous year. This significant growth is a testament to the company's strong financial performance.
Fortinet's earnings in 2023 were $1.15 billion, representing a 33.89% increase from the previous year. This impressive earnings growth is a result of the company's successful business strategies.
Here's a snapshot of Fortinet's recent financial performance:
Analysts are optimistic about Fortinet's stock, with an average rating of "Buy" from 33 analysts. The 12-month stock price forecast is $96.6, representing a -2.79% decrease from the latest price.
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Analyst Insights
Analysts are overwhelmingly optimistic about Fortinet's stock, with an average rating of "Buy" from 33 analysts.
The 12-month stock price forecast is $96.6, which represents a decrease of -2.79% from the latest price.
Many analysts have upgraded their ratings on Fortinet, with 7 analysts upgrading to "Strong Buy" in the past few months, including Scotiabank, Robert W. Baird & Co., and Wedbush Securities.
Analysts are also confident in Fortinet's earnings potential, with an average estimate of 0.52 and a growth rate estimated at +23.81% year over year.
Here's a breakdown of the analyst upgrades and downgrades:
Frequently Asked Questions
Who are the largest shareholders of Fortinet?
The largest shareholders of Fortinet include Vanguard Group Inc, BlackRock, Inc., and State Street Corp, among others. These institutional investors hold significant stakes in the company, influencing its direction and performance.
What is the price target for Fortinet in 2024?
The average 12-month price target for Fortinet is $92.77, with a range of $65.00 to $115.00. Check the latest analyst forecasts for the most up-to-date information.
What is the price target for Fortinet in 2025?
The estimated price target for Fortinet is between $72.00 and $115.00 USD, with an average target of $99.03 USD. Analysts' predictions suggest Fortinet's stock may reach this target in the near future.
What is the symbol for Fortinet?
The symbol for Fortinet is FTNT. This is the ticker symbol used to represent the company on stock exchanges.
How do I buy Fortinet stock?
To buy Fortinet stock, sign up for a brokerage account on Public, add funds, and choose your investment amount. Get started with investing in Fortinet stock today.
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