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

7,200 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
High Margins And ProfitabilityFortinet's exceptionally high gross and operating margins reflect a software-heavy security platform and scalable delivery via subscriptions and appliances. Sustained margin levels support durable reinvestment in R&D, margin-accretive growth, and strong operating leverage across cycles.
Strong Free Cash Flow GenerationConsistent multi-billion dollar operating and free cash flows provide steady funding for product investments, share repurchases, and balance-sheet flexibility. Strong cash conversion reduces dependence on external financing and supports multi-year strategic initiatives and capital allocation.
Broad Billings/product Momentum And Secular DemandRobust billings and outsized product growth reflect durable enterprise demand for high-performance security (AI, SASE, OT). New high-throughput appliances and large enterprise wins strengthen competitive positioning and expand cross-sell potential across the installed base over the medium term.
Bears Say
Services Revenue Conversion LagA material gap between accelerating service billings and slower reported service revenue implies delayed recognition of recurring revenue and slower ARR uplift. This timing mismatch can reduce near-term revenue predictability and obscure the pace at which high-margin subscription revenue scales.
Component Cost And Pricing PressureOngoing memory/component cost pressures and modest pricing impacts can erode product revenue growth and compress margins if sustained. Management's guidance already factors cautious pricing and infrastructure spend, but persistent supply-cost volatility could impair medium-term margin sustainability.
Balance-sheet Quality / Equity VolatilityHistoric episodes of negative equity and a relatively small TTM equity base mean returns are amplified but the capital cushion is thinner. That history raises structural balance-sheet quality concerns and could constrain strategic flexibility if earnings or cash flow unexpectedly weaken.

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 9 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

                    $120.38
                    ▲(47.09% Upside)
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                    Ownership Overview

                    16.93%13.50%0.28%38.97%
                    16.93% Insiders
                    0.28% Other Institutional Investors
                    38.97% Public Companies and Individual Investors
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