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

7,156 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 FlowSustained very high gross and operating margins combined with multi‑billion FCF provide durable cash generation to fund R&D, sales/marketing, and strategic investments. Strong cash conversion supports buybacks, de‑risking capital structure and enabling long‑term reinvestment without reliance on external financing.
Robust Billings And Product MomentumLarge, sustained billings growth and outsized product revenue reflect structural demand for high‑performance security appliances. Product momentum for AI/high‑throughput workloads strengthens differentiation, drives large deal wins and increases the installed base that feeds future services and renewals.
Large Recurring Services Base And Deferred Revenue GrowthA sizable and growing services backlog and deferred revenue create predictable recurring cashflows over time. The channel-driven model and cross‑sell of SASE, SecOps and endpoint services increase customer lifetime value and revenue visibility, supporting durable margins and lower churn risk.
Bears Say
Services Revenue Conversion LagLag between billings and recognized services revenue reduces near‑term revenue visibility and can mask actual ARR growth. If conversion delays persist, they can compress reported services growth rates and create volatility in recurring revenue recognition despite strong sales activity.
Component And Memory Cost PressuresSustained component cost inflation or supply constraints can compress product margins and force pricing actions that slow bookings. These structural supply‑chain and cost dynamics may reduce unit economics or require higher investment to maintain service levels over multiple quarters.
Historical Balance‑sheet Volatility And Thin Equity BasePrior negative equity and a relatively small equity base versus earnings create sensitivity in returns and raise a balance‑sheet quality flag. Although leverage improved, a thin equity cushion can amplify the impact of adverse shocks and limit strategic flexibility in stressed scenarios.

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 $150.07 in the past 12 months.
    What is Fortinet’s market cap?
    Fortinet’s market cap is $107.19B.
      When is Fortinet’s upcoming earnings report date?
      Fortinet’s upcoming earnings report date is Jul 30, 2026 which is in 44 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

                    $113.85
                    ▲(39.12% Upside)
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<span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 13,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 23, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 2</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":102.43,"date":1751328000000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 15,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 26, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 1</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":97.36,"date":1754006400000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n        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style=\"color:#199ca5\">Buy 8,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 40, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 3</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":86.43,"date":1761955200000,"info":" <span style=\"color:#828080\" class=\"mb3 mt2 fonth8_semibold\"> Hold</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 3,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 28, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 3</span>\n      ","marker":{"lineColor":"#828080","enabled":true,"symbol":"circle"}},{"y":81.82,"date":1764547200000,"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 3,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 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                    Ownership Overview

                    16.93%13.55%9.65%28.41%
                    16.93% Insiders
                    9.65% Other Institutional Investors
                    28.41% Public Companies and Individual Investors
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