Want to see FTNT full AI Analyst Report?
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 - $173.89
Previous CloseN/A
Volume1.74M
Average Volume (3M)5.16M
Market Cap
$118.75B
Enterprise Value$110.09K
Total Cash (Recent Filing)$4.07B
Total Debt (Recent Filing)$496.90M
Price to Earnings (P/E)54.0
Beta1.18
Next Earnings
Oct 29, 2026EPS Estimate
0.86Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)2.86
Shares Outstanding733,713,600
10 Day Avg. Volume4,699,374
30 Day Avg. Volume5,158,692
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$166.67Price Target Upside8.46% Upside
Rating ConsensusHold
Number of Analyst Covering31
EPS Forecast (FY)3.44
Revenue Forecast (FY)$8.11B
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.
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.
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:
$166.67 (8.46% Upside)
$166.67 (8.46% Upside)
Blogger Sentiment
Bullish
FTNT Sentiment 78%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Increased
By 983.8K Shares
Last Quarter.
Last Quarter.
Crowd Wisdom
Positive
Last 7 Days ▲ 0.4%
Last 30 Days ▲ 1.7%
Last 30 Days ▲ 1.7%
News Sentiment
Bearish
Bullish news 40%
Bearish news 60%
Bearish news 60%
Technicals
SMA
Positive
20 days / 200 days
Momentum
100.89%
12-Months-Change
Fundamentals
Return on Equity
―
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
$166.67
▲(8.46% Upside)
Technical Analysis
1 Day
3 Days
1 Week
1 Month
Ownership Overview
15.56% Insiders
13.48% Mutual Funds
8.26% Other Institutional Investors
31.13% Public Companies and Individual Investors











