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Kenneth Goldman, a director at Fortinet Inc. (NASDAQ:FTNT), recently sold 1,000 shares of the company’s common stock. The transaction, dated March 10, 2025, was executed at a price of $99.32 per share, resulting in a total sale value of $99,320. This sale was conducted under a Rule 10b5-1 trading plan, which Goldman adopted on December 9, 2024. The sale comes as Fortinet maintains strong financial fundamentals, with impressive gross profit margins of 80.5% and a "GREAT" financial health rating according to InvestingPro analysis.
Following this transaction, Goldman holds 20,612 shares directly. Additionally, he maintains indirect ownership of 1,000 shares through GV Partners L.P. and 20,750 shares via the Goldman-Valeriote Family Trust. The stock has shown strong momentum with a 32% gain over the past six months, despite a recent 8% pullback last week. InvestingPro subscribers have access to 16 additional key insights about Fortinet’s valuation and growth prospects.
In other recent news, Fortinet has been the focus of several analysts’ updates following its strong financial performance. Erste Group initiated coverage with a Buy rating, citing Fortinet’s impressive return on equity and projected revenue growth for 2025, which is expected to reach between $6.7 and $6.9 billion. The company is also noted for maintaining high margins, with a gross margin of approximately 80% and an operating margin between 31% and 33%. In addition, Citi analyst Fatima Boolani raised Fortinet’s price target to $115, highlighting the company’s stable performance and growth in product billings and large deals.
TD Cowen also increased Fortinet’s price target to $135, crediting the company’s success to factors such as demand from firewall refresh cycles and growth in its Security Operations segment. RBC Capital Markets adjusted its price target to $115, observing momentum in enterprise upgrades and potential upsells. Meanwhile, BMO Capital Markets raised their price target to $122, acknowledging Fortinet’s strong quarter but expressing reservations about the company’s fiscal year 2025 guidance. These developments reflect a broad recognition of Fortinet’s robust financial health and strategic positioning in the cybersecurity market.
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