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FTNT Stock Chart & Stats
$153.66
$0.20(0.13%)
At close: 4:00 PM EDT
$153.66
$0.20(0.13%)
Day’s Range― - ―
52-Week Range$73.55 - $197.13
Previous CloseN/A
Volume1.74M
Average Volume (3M)3.76M
Market Cap
$124.09B
Enterprise Value$110.09B
Total Cash (Recent Filing)$4.07B
Total Debt (Recent Filing)$496.90M
Price to Earnings (P/E)59.1
Beta1.30
Next Earnings
Oct 28, 2026EPS Estimate
0.86Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)2.86
Shares Outstanding733,713,600
10 Day Avg. Volume3,634,611
30 Day Avg. Volume3,755,946
Financial Highlights & Ratios
PEG Ratio4.64
Price to Book (P/B)47.68
Price to Sales (P/S)8.68
P/FCF Ratio26.51
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue14.63
Enterprise Value/Gross Profit18.20
Enterprise Value/Ebitda39.33
Forecast
1Y Price Target
$176.71Price Target Upside15.00% Upside
Rating ConsensusHold
Number of Analyst Covering32
EPS Forecast (FY)3.45
Revenue Forecast (FY)$8.12B
Bulls Say, Bears Say
Bulls Say
High-margin ProfitabilityFortinet’s very high gross, operating, and net margins demonstrate a profitable business model with meaningful operating leverage. Sustaining these margins provides resources to fund product development, infrastructure investment, customer acquisition, and shareholder returns while supporting resilience through normal demand cycles.
Strong Cash GenerationStrong and growing free cash flow indicates that reported profitability converts effectively into financial resources. This supports ongoing investment, acquisitions or innovation, buybacks, and balance-sheet improvement, giving Fortinet flexibility to pursue growth without relying heavily on additional debt financing.
Integrated Security Platform GrowthBroad demand across networking, SASE, security operations, and OT supports the durability of Fortinet’s integrated Security Fabric strategy. Cross-selling across these categories can deepen customer relationships, expand the installed base, and create recurring subscription and support opportunities over time.
Bears Say
Recent Revenue Growth SlowdownThe recent deceleration in total revenue growth shows that Fortinet’s strong scale and profitability have not eliminated the challenge of maintaining prior expansion rates. If slower growth persists, it could limit operating leverage, reduce the pace of market-share gains, and make future earnings growth more dependent on margins.
Services Growth Trails ProductsServices provide recurring revenue and renewal visibility, so their slower growth relative to products is an important quality concern. A prolonged gap could moderate recurring-revenue expansion and delay the benefits of Fortinet’s installed-base monetization, even though management expects services growth to improve.
Uncertainty Around Product-growth DurabilityRecent product acceleration is substantial, but management’s caution about sustainability makes the medium-term growth trajectory less certain. If elevated demand from AI, SASE, or related investments normalizes, Fortinet could experience slower billings and revenue growth before recurring services fully offset that moderation.
Fortinet News
FTNT FAQ
What was Fortinet’s price range in the past 12 months?
Fortinet lowest stock price was $73.55 and its highest was $197.13 in the past 12 months.
What is Fortinet’s market cap?
Fortinet’s market cap is $124.09B.
When is Fortinet’s upcoming earnings report date?
Fortinet’s upcoming earnings report date is Oct 28, 2026 which is in 8 days.
How were Fortinet’s earnings last quarter?
Fortinet released its earnings results on Jul 29, 2026. The company reported $0.9 earnings per share for the quarter, beating the consensus estimate of $0.746 by $0.154.
Is Fortinet overvalued?
According to Wall Street analysts Fortinet’s price is currently Undervalued.
Does Fortinet pay dividends?
Fortinet does not currently pay dividends.
What is Fortinet’s EPS estimate?
Fortinet’s EPS estimate is 0.86.
How many shares outstanding does Fortinet have?
Fortinet has 733,713,600 shares outstanding.
What happened to Fortinet’s price movement after its last earnings report?
Fortinet reported an EPS of $0.9 in its last earnings report, beating expectations of $0.746. Following the earnings report the stock price went up 0.672%.
Which hedge fund is a major shareholder of Fortinet?
Currently, no hedge funds are holding shares in FTNT
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
Fortinet Stock Smart Score
Outperform
1
2
3
4
5
6
7
8
9
10
Analyst Consensus
Hold
Average Price Target:
$176.71 (15.00% Upside)
$176.71 (15.00% Upside)
Blogger Sentiment
Bullish
FTNT Sentiment 76%
Sector Average 65%
Sector Average 65%
Hedge Fund Trend
Increased
By 982.2K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Very Positive
Last 7 Days ▼ 0.6%
Last 30 Days ▲ 5.3%
Last 30 Days ▲ 5.3%
News Sentiment
Bullish
Bullish news 75%
Bearish news 25%
Bearish news 25%
Technicals
SMA
Positive
20 days / 200 days
Momentum
103.42%
12-Months-Change
Fundamentals
Return on Equity
187.95%
Trailing 12-Months
Asset Growth
2.05%
Trailing 12-Months
Learn more about TipRanks Smart Score
Company Description
Fortinet
Fortinet, Inc. specializes in delivering extensive, unified, and automated cybersecurity solutions to a global clientele, encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. At its core, the company offers FortiGate, a powerful platform combining hardware and software licenses that provides a comprehensive suite of security and networking functionalities. This includes firewall capabilities, intrusion prevention, anti-malware defense, virtual private network (VPN) services, application control, web filtering, anti-spam measures, and wide area network (WAN) acceleration. Beyond its flagship product, Fortinet provides a diverse portfolio of specialized security tools. These range from FortiSwitch for secure network switching and FortiAP for robust wireless connectivity, to FortiExtender, a versatile hardware appliance. For centralized network visibility and control, clients utilize FortiAnalyzer for logging, analysis, and reporting, and FortiManager for scalable administration of FortiGate devices. The company further fortifies digital defenses with FortiWeb (web application firewalls), FortiMail (secure email gateways), and FortiSandbox technology, which offers proactive threat detection and mitigation. Endpoint protection is a key focus, delivered through FortiClient (featuring pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall) and the advanced FortiEDR/XDR suite, which leverages machine learning for anti-malware execution and real-time post-infection defense. Additionally, FortiToken and FortiAuthenticator product families provide essential multi-factor authentication to safeguard systems and data. Fortinet's service offerings include security subscriptions, technical support, professional consulting, and training programs. Its robust security technologies are distributed both directly to end-users and through an extensive network of channel partners. The company serves a wide array of sectors, including telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare. Headquartered in Sunnyvale, California, Fortinet, Inc. was established in 2000 and maintains a strategic alliance with Linksys.
FTNT Company Deck
FTNT Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call conveyed strong, broad-based operational and financial momentum: double-digit growth across top-line metrics, a 52% jump in product revenue, record non-GAAP operating margin (38%), and exceptional free cash flow that supported increased guidance and continued buybacks. Management highlighted durable secular drivers (AI, sovereign SASE, OT security) and product differentiation (FortiOS, FortiASIC). Principal caveats were a still-lagging services growth rate, some uncertainty around how sustained ultra-high product growth will be into 2027, and modeling complexity from mixed metric definitions and price/headwind adjustments. On balance the positives — outsized product growth, margin expansion, cash generation, large customer wins and upgraded guidance — significantly outweigh the lowlights.View all FTNT earnings summariesFTNT Revenue Breakdown
32.63% Product
67.37% Services

FTNT Stock 12 Month Forecast
All Analysts
Top Analysts
Average Price Target
$176.71
▲(15.00% Upside)
Technical Analysis
1 Day
3 Days
1 Week
1 Month
Ownership Overview
15.56% Insiders
13.48% Mutual Funds
0.64% Other Institutional Investors
39.30% Public Companies and Individual Investors












