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Fortinet (FTNT)
NASDAQ:FTNT
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Fortinet (FTNT) Price & Analysis

7,204 Followers

FTNT Stock Chart & Stats

$81.84
-$1.40(-1.46%)
At close: 4:00 PM EST
$81.84
-$1.40(-1.46%)

Bulls Say, Bears Say

Bulls Say
Free Cash Flow GenerationFortinet’s sizable and growing FCF (TTM ~$2.44B) provides durable internal funding for R&D, channel investment and buybacks. Consistent cash conversion supports reinvestment into product innovation and capital returns, enhancing long-term resilience versus cyclical revenue shifts.
High And Durable MarginsVery high gross and operating margins reflect a software-rich security platform, subscription services and scale benefits. Structural product mix and platform leverage support margin sustainability, enabling strong earnings retention and funding for strategic initiatives over multiple quarters.
Product Momentum & BillingsRobust billings and outsized product growth, plus new high-performance appliance launches and large-enterprise deal expansion, indicate durable market-share gains. Platform-led upsell and AI-driven infrastructure demand support sustained enterprise adoption and recurring expansion opportunities.
Bears Say
Services Revenue Conversion LagAccelerating service billings versus modest reported service revenue indicates delayed recognition from deferred revenue. This slows the pace at which recurring services contribute to reported ARR and margins, reducing near-term predictability of subscription revenue and long-term recurring mix improvements.
Component Cost & Pricing PressurePersistent component and memory cost volatility and modest pricing impacts can compress product gross margins or force increased investment to secure supply. Over a multi-quarter horizon this can reduce margin upside and require cautious pricing or increased capex to maintain performance leadership.
Balance-Sheet Quality FlagsA historically thin and volatile equity base (including prior negative equity) raises sensitivity to earnings shocks, buybacks or acquisitions. While leverage is manageable now, limited equity buffer can constrain financial flexibility and amplify risks if growth or margins deteriorate.

Fortinet News

FTNT FAQ

What was Fortinet’s price range in the past 12 months?
Fortinet lowest stock price was $70.12 and its highest was $170.35 in the past 12 months.
    What is Fortinet’s market cap?
    Fortinet’s market cap is $118.40B.
      When is Fortinet’s upcoming earnings report date?
      Fortinet’s upcoming earnings report date is Jul 29, 2026 which is in 8 days.
        How were Fortinet’s earnings last quarter?
        Fortinet released its earnings results on May 06, 2026. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.619 by $0.201.
          Is Fortinet overvalued?
          According to Wall Street analysts Fortinet’s price is currently Undervalued. Get more investment ideas with TipRanks Premium
            Does Fortinet pay dividends?
            Fortinet does not currently pay dividends.
            What is Fortinet’s EPS estimate?
            Fortinet’s EPS estimate is 0.75.
              How many shares outstanding does Fortinet have?
              Fortinet has 732,648,400 shares outstanding.
                What happened to Fortinet’s price movement after its last earnings report?
                Fortinet reported an EPS of $0.82 in its last earnings report, beating expectations of $0.619. Following the earnings report the stock price went up 20.033%.
                  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

                    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.

                    Fortinet (FTNT) Earnings & Revenues

                    FTNT Revenue Breakdown

                    32.63%32.63%67.37%
                    32.63% Product
                    67.37% Services
                    tipranks

                    FTNT Stock 12 Month Forecast

                    Average Price Target

                    $121.39
                    ▲(48.33% Upside)
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                    Ownership Overview

                    16.93%13.50%0.55%38.75%
                    16.93% Insiders
                    0.55% Other Institutional Investors
                    38.75% Public Companies and Individual Investors
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