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

7,187 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
Industry-leading MarginsSustained extremely high gross and operating margins reflect strong product differentiation, pricing power, and an efficient go‑to‑market model. These margins provide durable cash generation and reinvestment capacity, insulating profitability through product cycles and supporting long‑term scaling.
Strong Free Cash Flow GenerationConsistent, large free cash flow and record quarterly FCF margins enable capital returns, R&D and infrastructure investment without reliance on external financing. Strong cash conversion underpins balance sheet flexibility and funds strategic initiatives over the next several quarters.
Product Momentum And Market Share GainsRapid product and billings growth—driven by AI‑optimized appliances, SASE adoption and OT wins—demonstrates competitive strength of the Security Fabric and channel model. Durable customer expansions and large deals support sustained revenue mix improvement and long‑term market share gains.
Bears Say
Services Revenue Conversion LagA lag between accelerated service billings and reported service revenue weakens near‑term recurring revenue visibility and ARR quality. Slow conversion can compress services margin leverage and delays predictable subscription cash flows critical for long‑term revenue compounding.
Component Cost And Pricing PressureSustained supply‑chain and memory cost volatility can erode product margins or force pricing actions that depress unit economics. Over multiple quarters, input cost inflation and competitive pricing responses could reduce margin expansion and require higher investment to preserve product performance leadership.
SASE ARR Cadence UncertaintyUnclear SASE ARR timing raises uncertainty around the predictability of recurring ARR growth, which is key to long‑term revenue stability. If SASE ARR lags expectations, subscription mix improvements may slow, delaying margin and valuation advantages tied to steady recurring revenue.

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 $165.28 in the past 12 months.
    What is Fortinet’s market cap?
    Fortinet’s market cap is $115.40B.
      When is Fortinet’s upcoming earnings report date?
      Fortinet’s upcoming earnings report date is Jul 29, 2026 which is in 16 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 0.74.
              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 Company Deck

                    FTNT Earnings Call

                    Q1 2026
                    0:00 / 0:00
                    Earnings Call Sentiment|Positive
                    The call presented a strong set of operating and financial results with high billings (+31%), revenue (+20%), outsized product growth (+41%), record margins and free cash flow, and raised guidance—underscoring broad-based demand (OT, SASE, AI security) and clear market-share momentum. Noted challenges include a services revenue conversion lag, component cost pressures requiring cautious pricing assumptions, some remaining supply-chain timing uncertainty, and analyst questions around SASE ARR cadence. Overall, the positive operational and financial momentum and increased guidance substantially outweigh the manageable near-term risks.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

                    $114.79
                    ▲(40.27% Upside)
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                    Ownership Overview

                    16.93%13.50%0.28%39.07%
                    16.93% Insiders
                    0.28% Other Institutional Investors
                    39.07% Public Companies and Individual Investors
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