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

7,186 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 Strong Free Cash FlowFortinet's sustained high gross and operating margins, plus recurring TTM free cash flow around $2.4B, provide durable internal funding for R&D, product development, buybacks and strategic investments. This robust cash conversion supports long-term competitiveness and resilience through cycles.
Recurring Subscriptions & Installed-base MonetizationA sizable and growing base of subscription and support contracts creates predictable renewal streams and high customer lifetime value. Strong billings and rising deferred revenue indicate durable upsell potential and revenue visibility from an expanding installed base over the coming quarters.
Product Momentum Tied To AI And High‑performance AppliancesSharp product growth and launches of higher-throughput appliances align Fortinet with rising demand for AI and high-performance networking. This expands addressable market, supports larger deal sizes, and helps capture share in enterprise and cloud segments where performance and integrated security matter long-term.
Bears Say
Services Revenue Conversion LagDelayed conversion of accelerated service billings into reported services revenue weakens short‑term revenue recognition and obscures subscription recurring growth visibility. If conversion remains slow, it can temper perceived stability of recurring revenue and complicate ARR-driven planning and valuation over several quarters.
Revenue Growth DecelerationA multi-year slowdown from peak growth rates to more modest TTM expansion constrains long-run operating leverage and the pace at which Fortinet can scale revenues to match high margins. Sustained deceleration would raise pressure on growth investments and could limit upside in longer-term revenue forecasts.
Component Cost And Supply‑chain UncertaintyPersistent component cost inflation and supply timing variability can compress product margins or force price actions that alter competitiveness. Ongoing supply uncertainty risks uneven order fulfillment and possible revenue timing shifts, creating execution risk for product-led growth over the medium term.

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 $163.57 in the past 12 months.
    What is Fortinet’s market cap?
    Fortinet’s market cap is $118.95B.
      When is Fortinet’s upcoming earnings report date?
      Fortinet’s upcoming earnings report date is Jul 29, 2026 which is in 21 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

                    $112.69
                    ▲(37.70% Upside)
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                    Ownership Overview

                    16.93%13.50%0.05%39.24%
                    16.93% Insiders
                    0.05% Other Institutional Investors
                    39.24% Public Companies and Individual Investors
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