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

7,296 Followers

FTNT Stock Chart & Stats

$153.66
$0.20(0.13%)
At close: 4:00 PM EDT
$153.66
$0.20(0.13%)

Bulls Say, Bears Say

Bulls Say
High-margin, Cash-generative ModelFortinet combines software- and subscription-supported economics with exceptionally strong profitability and cash generation. High margins and rising free cash flow provide resources for product investment, infrastructure, buybacks and resilience through changing demand.
Integrated Platform And Strategic GrowthThe Fortinet Security Fabric, including FortiOS and FortiASIC, supports cross-selling across networking, SASE, security operations and OT. Broad adoption across several structural security categories can deepen customer relationships and expand the installed base.
Improved Financial PositionThe return to positive equity and lower relative leverage materially improves financial flexibility compared with 2022–2023. A stronger balance sheet can support infrastructure investment, acquisitions or shareholder returns while reducing balance-sheet risk.
Bears Say
Recent Revenue Growth DecelerationFortinet remains highly profitable, but slower recent top-line expansion raises questions about the underlying growth rate beyond the latest quarter. Sustained deceleration could limit operating leverage and make future growth more dependent on newer strategic products.
Services Growth Trails Product MomentumRecurring services and subscriptions are important to Fortinet’s installed-base economics, so slower service growth may delay the transition toward a more predictable revenue mix. Management expects improvement, but the gap remains a fundamental execution watchpoint.
Uncertainty Around Growth DurabilityRecent acceleration is encouraging, but limited visibility into 2027 makes the durability of product demand less certain. Dependence on AI, data-center, SASE and OT investment cycles could expose future growth to changes in enterprise spending priorities.

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 $173.89 in the past 12 months.
    What is Fortinet’s market cap?
    Fortinet’s market cap is $118.75B.
      When is Fortinet’s upcoming earnings report date?
      Fortinet’s upcoming earnings report date is Oct 29, 2026 which is in 55 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. 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 0.86.
              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

                    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 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 summaries

                    FTNT Revenue Breakdown

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

                    FTNT Stock 12 Month Forecast

                    Average Price Target

                    $166.67
                    ▲(8.46% Upside)
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3,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 28, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 4</span>\n      ","marker":{"lineColor":"#912767","enabled":true,"symbol":"circle"}},{"y":79.41,"date":1767225600000,"info":" <span style=\"color:#912767\" class=\"mb3 mt2 fonth8_semibold\"> Moderate Sell</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 6,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 31, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 8</span>\n      ","marker":{"lineColor":"#912767","enabled":true,"symbol":"circle"}},{"y":81.29,"date":1769904000000,"info":" <span style=\"color:#912767\" class=\"mb3 mt2 fonth8_semibold\"> Moderate Sell</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 8,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 31, 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                    Ownership Overview

                    15.56%13.48%8.26%31.13%
                    15.56% Insiders
                    8.26% Other Institutional Investors
                    31.13% Public Companies and Individual Investors
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