FTNTNASDAQ— Fortinet Inc Price & Analysis

Fortinet Inc

TECHNOLOGY — SOFTWARE - INFRASTRUCTURE

$156.29

-$0.07-0.04%

Market Cap: $114.72B; Large Cap
P/E Ratio: 54.67; Fwd: 41.67
EPS (TTM): $2.86
Div. Yield: N/A

Technical Summary

RSI (14)47.82Neutral

SMA (50)$158.78Bearish

SMA (200)$110.06Bullish

MACD0.5314Bearish

Bollinger$147.19 – $171.35Mid

Stochastic29.17Neutral

Theo Outlook

Fortinet (FTNT) presents a bullish thesis with a $114.7B market cap, trailing P/E of 55.23, EPS of $2.83, and strong momentum from 25.6% quarterly revenue growth and 43.9% earnings growth year-over-year. The premium valuation reflects its leadership in cybersecurity infrastructure amid rising demand for integrated security solutions. Forward P/E of 40.32 suggests potential compression as earnings scale. Key catalysts include sustained enterprise adoption of Fortinet's firewall and endpoint security platforms, expansion into cloud and SASE markets, and robust earnings momentum with the latest quarter ending June 2026 showing continued double-digit growth. Analyst consensus targets $162.29 with 11 buy ratings supporting further upside from product innovation and global market penetration. Risks encompass intense competition from larger peers like Palo Alto Networks and Cisco, potential regulatory scrutiny on data privacy, and macro headwinds from IT spending slowdowns. Mitigations include Fortinet's high gross margins above 80%, diversified revenue streams, and proven ability to deliver 43.9% earnings growth despite economic pressures. Analysis generated by HeyTheo AI based on SEC filings, earnings transcripts, and market data.

Analysis generated by HeyTheo AI on Sep 7, 2026.

Company Overview

Fortinet (Nasdaq: FTNT) is an American multinational corporation headquartered in Sunnyvale, California. It develops and sells cybersecurity solutions, including but not limited to physical products such as firewalls, plus software and services such as anti-virus protection, intrusion prevention systems and endpoint security components.

Fundamental Snapshot

Revenue: $7.53B
EBITDA: $2.60B
Gross Profit: $6.04B
Operating Margin: 33.6%
Profit Margin: 28.2%
ROE: 117.4%
Book Value: $2.11
Beta: 1.06
52-Wk High: $173.89
52-Wk Low: $73.55
Avg Volume: 2.94M
PEG Ratio: 1.78

Frequently Asked Questions

What is Fortinet's business model?

Fortinet develops and sells integrated cybersecurity solutions including firewalls, anti-virus, intrusion prevention, and endpoint security. It operates a hardware-software-services model with recurring revenue from subscriptions, generating $7.53B TTM revenue and 28.2% profit margins.

What are Fortinet's primary revenue sources?

Revenue comes mainly from product sales (firewalls and appliances) and high-margin subscription services for security updates and cloud offerings. TTM revenue reached $7.53B with gross profit of $6.04B, driven by 25.6% quarterly revenue growth.

What are Fortinet's key competitive advantages?

Fortinet's advantages include its ASIC-powered FortiGate platform for superior performance, broad security portfolio integration, and strong brand in enterprise markets. It maintains a 55.23 trailing P/E supported by 43.9% earnings growth and 73.96 price-to-book ratio.

What are the main risks for FTNT investors?

Key risks include cybersecurity competition, potential macro IT budget cuts, and regulatory changes. With no dividend yield and a 55.23 P/E, valuation sensitivity to growth slowdowns is high, though mitigated by 1.715 PEG ratio and 71.7% institutional ownership.

What is Fortinet's growth outlook?

Analysts project continued expansion with a $162.29 target price and forward P/E of 40.32. Growth drivers include cloud security demand, with latest quarter EPS at $2.83 and 25.6% revenue growth supporting double-digit earnings momentum into 2026.