Val
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Gro
—
Qua
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Mom
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Sta
—
Cap—
P/S15.79
P/E—
Fwd P/E44.73
PEG3.50
52W— – —
RSI—
Target$136.11 (-11.2%)
Beta1.09
Div—
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RSI (14)
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Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers FortiOS, a unified operating system designed to address cybersecurity threats; FortiASIC application-specific integrated circuit (ASIC)-based security processing units; FortiCloud, a private cloud software as a service platform; FortiAI, which provides a dual-layered defense across the Fortinet Security Fabric; FortiEndpoint, which converges secure connectivity, endpoint protection, and capabilities into a single agent; and OT Security, which protect the engineered systems that underpin infrastructure and supply chains. It also provides secure networking solutions that focus on the convergence of networking and security; network firewall solutions comprising FortiGate data centers, hyperscale, and distributed firewalls; wireless local area network solutions; and secure connectivity solutions. In addition, the company offers the Fortinet Unified Secure Access Service Edge solutions that include firewall, software-defined wide-area network, secure web gateway, cloud access services broker, data loss prevention, and zero trust network access; and web application firewalls, cloud network security with virtualized firewalls, cloud-native firewalls, cloud-native application protection, and code security. Further, it provides AI-driven security operation solutions, which include a suite of cybersecurity solutions, as well as FortiEDR, FortiXDR, FortiNDR, FortiSandbox, FortiDeceptor, FortiDLP, and FortiRecon. Additionally, the company offers FortiGuard Labs, a cybersecurity threat intelligence and research organization; FortiGuard and Other Security Services, a suite of AI-powered security capabilities that consists of FortiGuard application, content, device, NOC/SOC, and web security services; and FortiCare technical support services. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.
52-Week Range
52W Low
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52W High
Position in Range
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RSI (14)
0 · Oversold
RSI 50
Overbought · 100
Signal
Neutral
EMA Price Levels
Volume Analysis
Momentum Dashboard
Trend Strength
Detected Patterns
4Bullish
0Bearish
0Neutral
▲ Double Bottom — Two lows ~$76.22 — bullish reversal confirmed
▲ Bull Flag — Breakout after +10% pole — bullish continuation
▲ Bull Flag — Breakout after +56% pole — bullish continuation
▲ Bull Flag — Breakout after +20% pole — bullish continuation
View overlays on the price chart via Chart tab → Pattern Overlays.
EPS — History & Forecast
Estimate
Beat
Miss
Forecast
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Revenue — History & Forecast
Revenue
Forecast
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EPS Beat Rate
100%
8/8 quarters
Wall Street Consensus
HOLD
BuyHoldSell
Price Target Range
$136.11
-11.2% upside
Low $86
—
High $215
Consensus
Current price
Wall Street Analyst Ratings
| Firm | Rating | Change | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | In-Line | — | ↔ Maintain | 2026-07-28 |
| Cantor Fitzgerald | Neutral | — | ↔ Maintain | 2026-07-23 |
| Citigroup | Neutral | — | ↔ Maintain | 2026-07-22 |
| Truist Securities | Buy | — | ↔ Maintain | 2026-07-21 |
| Morgan Stanley | Equal-Weight | Underweight → Equal-Weight | ▲ Upgrade | 2026-07-21 |
| Wells Fargo | Underweight | — | ↔ Maintain | 2026-07-20 |
| Mizuho | Underperform | — | ↔ Maintain | 2026-07-15 |
| TD Cowen | Buy | — | ↔ Maintain | 2026-07-13 |
| Barclays | Equal-Weight | — | ↔ Maintain | 2026-07-13 |
| BTIG | Buy | — | ↔ Maintain | 2026-07-10 |
| HSBC | Reduce | Hold → Reduce | ▼ Downgrade | 2026-06-30 |
| B of A Securities | Buy | — | ↔ Maintain | 2026-06-08 |
| Susquehanna | Neutral | — | ↔ Maintain | 2026-05-08 |
| UBS | Neutral | — | ↔ Maintain | 2026-05-07 |
| JP Morgan | Underweight | — | ↔ Maintain | 2026-05-07 |
| Scotiabank | Sector Perform | — | ↔ Maintain | 2026-05-07 |
| RBC Capital | Sector Perform | — | ↔ Maintain | 2026-05-07 |
| Piper Sandler | Neutral | — | ↔ Maintain | 2026-05-07 |
| Stephens & Co. | Equal-Weight | — | ↔ Maintain | 2026-05-07 |
| Rosenblatt | Buy | — | ↔ Maintain | 2026-05-07 |
| BMO Capital | Market Perform | — | ↔ Maintain | 2026-05-04 |
| Freedom Broker | Hold | Buy → Hold | ▼ Downgrade | 2026-02-17 |
| Wedbush | Outperform | — | ↔ Reiterate | 2026-02-06 |
| Jefferies | Hold | — | ↔ Maintain | 2025-11-06 |
| Baird | Neutral | — | ↔ Maintain | 2025-11-06 |
Evercore ISI Group
2026-07-28
In-Line
↔ Maintain
Cantor Fitzgerald
2026-07-23
Neutral
↔ Maintain
Citigroup
2026-07-22
Neutral
↔ Maintain
Truist Securities
2026-07-21
Buy
↔ Maintain
Morgan Stanley
2026-07-21
Equal-Weight
(from Underweight)
▲ Upgrade
Wells Fargo
2026-07-20
Underweight
↔ Maintain
Mizuho
2026-07-15
Underperform
↔ Maintain
TD Cowen
2026-07-13
Buy
↔ Maintain
Barclays
2026-07-13
Equal-Weight
↔ Maintain
BTIG
2026-07-10
Buy
↔ Maintain
HSBC
2026-06-30
Reduce
(from Hold)
▼ Downgrade
B of A Securities
2026-06-08
Buy
↔ Maintain
Susquehanna
2026-05-08
Neutral
↔ Maintain
UBS
2026-05-07
Neutral
↔ Maintain
JP Morgan
2026-05-07
Underweight
↔ Maintain
Scotiabank
2026-05-07
Sector Perform
↔ Maintain
RBC Capital
2026-05-07
Sector Perform
↔ Maintain
Piper Sandler
2026-05-07
Neutral
↔ Maintain
Stephens & Co.
2026-05-07
Equal-Weight
↔ Maintain
Rosenblatt
2026-05-07
Buy
↔ Maintain
BMO Capital
2026-05-04
Market Perform
↔ Maintain
Freedom Broker
2026-02-17
Hold
(from Buy)
▼ Downgrade
Wedbush
2026-02-06
Outperform
↔ Reiterate
Jefferies
2025-11-06
Hold
↔ Maintain
Baird
2025-11-06
Neutral
↔ Maintain
Profitability
Gross Margin
80.30%TTM
Op. Margin
31.28%TTM
ROE
132.39%TTM
Rev. Growth
20.10%YoY
Free Cash Flow
1.81BTTM
FCF Yield
—TTM
Balance Sheet
Debt / Equity
57.31MRQ
Current Ratio
1.15MRQ
Cash
3.29BMRQ
Total Debt
567.20MMRQ
Net Debt
—MRQ
How FTNT Makes Its Money
Cash Flow Breakdown
Quarterly Metrics
| Quarter | Revenue | Rev YoY | Gross Profit | Op. Income | Net Income | Net YoY | Gross % | Op % | Net % |
|---|
Full Key Statistics
Valuation
| Market Cap | 112.26B |
| Enterprise Value | 109.53B |
| Trailing P/E | 59.39 |
| Forward P/E | 44.73 |
| PEG Ratio (5yr) | 3.50 |
| Price/Sales (ttm) | 15.79 |
| Price/Book (mrq) | 113.66 |
| EV/Revenue | 15.41 |
| EV/EBITDA | 46.38 |
Share Statistics
| Avg Vol (3m) | 6.19M |
| Shares Outstanding | 732.65M |
| Float | 617.65M |
| % Held by Insiders | 17.39% |
| % Held by Institutions | 72.08% |
| Short Ratio | 2.36 |
| Short % of Float | 2.39% |
Profitability
| Gross Margin | 80.30% |
| Operating Margin (ttm) | 31.28% |
| Profit Margin | 27.49% |
| Return on Assets (ttm) | 13.59% |
| Return on Equity (ttm) | 132.39% |
Income Statement
| Revenue (ttm) | 7.11B |
| Revenue Growth (yoy) | 20.10% |
| Gross Profit (ttm) | 5.71B |
| EBITDA | 2.36B |
| Net Income (ttm) | 1.95B |
| Diluted EPS (ttm) | 2.58 |
| EPS Growth (yoy) | 28.60% |
Balance Sheet
| Total Cash (mrq) | 3.29B |
| Total Debt (mrq) | 567.20M |
| Debt / Equity (mrq) | 57.31 |
| Current Ratio (mrq) | 1.15 |
| Book Value / Share | 1.35 |
| Operating CF (ttm) | 2.80B |
| Free Cash Flow (ttm) | 1.81B |
Trading & Dividends
| Beta (5Y) | 1.09 |
| 50-Day MA | 147.82 |
| 200-Day MA | 99.46 |
| Fwd Dividend Yield | N/A |
| Payout Ratio | 0.00% |
Ownership Breakdown
Institutional 72.08%
Insider 17.39%
Public 10.5%
Short Interest
2.39% of float
Low
Institutional 13F Holdings
Famous investors who disclosed a position in FTNT in their latest SEC 13F filing.
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Insider Transactions
| Date | Insider | Role | Transaction | Shares | Value |
|---|---|---|---|---|---|
| 2026-06-11 | HU JEAN X | Director | 650 | — | |
| 2026-06-11 | STAVRIDIS JAMES G | Director | 650 | — | |
| 2026-06-11 | GOLDMAN KENNETH ALLEN | Director | 650 | — | |
| 2026-06-11 | NAPOLITANO JANET ANN | Director | 650 | — | |
| 2026-06-11 | HSIEH MING | Director | 650 | — | |
| 2026-06-11 | SIM JUDITH KOON LIEN | Director | 650 | — | |
| 2026-06-04 | XIE MICHAEL | Chief Technology Officer | Stock Gift at price 0.00 per share. | 5,250 | — |
| 2026-06-03 | XIE MICHAEL | Chief Technology Officer | Sale at price 144.46 - 148.30 per share. | 3,907 | $572,144 |
| 2026-06-02 | XIE KENNETH QING | Chief Executive Officer | Sale at price 142.37 - 148.94 per share. | 160,632 | $23,385,059 |
| 2026-06-02 | XIE KENNETH QING | Chief Executive Officer | Conversion of Exercise of derivative security at price 22.90 per share. | 155,000 | $3,549,500 |
| 2026-05-21 | WHITTLE JOHN | Chief Operating Officer | Sale at price 128.15 - 129.55 per share. | 146,015 | $18,749,948 |
| 2026-05-21 | WHITTLE JOHN | Chief Operating Officer | Conversion of Exercise of derivative security at price 22.90 - 34.39 per share. | 146,015 | $4,365,769 |
| 2026-05-20 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | Sale at price 130.00 per share. | 238 | $30,940 |
| 2026-05-19 | XIE MICHAEL | Chief Technology Officer | Stock Gift at price 0.00 per share. | 5,854,588 | — |
| 2026-05-19 | GOLDMAN KENNETH ALLEN | Director | Stock Gift at price 0.00 per share. | 1,500 | — |
| 2026-05-14 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | Sale at price 120.00 per share. | 756 | $90,720 |
| 2026-05-11 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | Sale at price 115.00 per share. | 238 | $27,370 |
| 2026-05-07 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | Sale at price 110.00 per share. | 756 | $83,160 |
| 2026-05-05 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | Sale at price 89.70 per share. | 596 | $53,461 |
| 2026-05-04 | XIE MICHAEL | Chief Technology Officer | Sale at price 87.04 - 89.61 per share. | 2,478 | $220,281 |
| 2026-05-04 | XIE KENNETH QING | Chief Executive Officer | Sale at price 87.04 - 89.61 per share. | 5,355 | $476,035 |
| 2026-05-01 | WHITTLE JOHN | Chief Operating Officer | 4,572 | — | |
| 2026-05-01 | OHLGART CHRISTIANE MARGRIT | Chief Financial Officer | 4,903 | — | |
| 2026-05-01 | XIE KENNETH QING | Chief Executive Officer | 13,092 | — | |
| 2026-05-01 | XIE MICHAEL | Chief Technology Officer | 6,305 | — |
HU JEAN X
Director
2026-06-11
650 sh
—
STAVRIDIS JAMES G
Director
2026-06-11
650 sh
—
GOLDMAN KENNETH ALLEN
Director
2026-06-11
650 sh
—
NAPOLITANO JANET ANN
Director
2026-06-11
650 sh
—
HSIEH MING
Director
2026-06-11
650 sh
—
SIM JUDITH KOON LIEN
Director
2026-06-11
650 sh
—
XIE MICHAEL
Chief Technology Officer
Stock Gift at price 0.00 per share.
2026-06-04
5,250 sh
—
XIE MICHAEL
Chief Technology Officer
Sale at price 144.46 - 148.30 per share.
2026-06-03
3,907 sh
$572,144
XIE KENNETH QING
Chief Executive Officer
Sale at price 142.37 - 148.94 per share.
2026-06-02
160,632 sh
$23,385,059
XIE KENNETH QING
Chief Executive Officer
Conversion of Exercise of derivative security at price 22.90 per share.
2026-06-02
155,000 sh
$3,549,500
WHITTLE JOHN
Chief Operating Officer
Sale at price 128.15 - 129.55 per share.
2026-05-21
146,015 sh
$18,749,948
WHITTLE JOHN
Chief Operating Officer
Conversion of Exercise of derivative security at price 22.90 - 34.39 per share.
2026-05-21
146,015 sh
$4,365,769
OHLGART CHRISTIANE MARGRIT
Chief Financial Officer
Sale at price 130.00 per share.
2026-05-20
238 sh
$30,940
XIE MICHAEL
Chief Technology Officer
Stock Gift at price 0.00 per share.
2026-05-19
5,854,588 sh
—
GOLDMAN KENNETH ALLEN
Director
Stock Gift at price 0.00 per share.
2026-05-19
1,500 sh
—
OHLGART CHRISTIANE MARGRIT
Chief Financial Officer
Sale at price 120.00 per share.
2026-05-14
756 sh
$90,720
OHLGART CHRISTIANE MARGRIT
Chief Financial Officer
Sale at price 115.00 per share.
2026-05-11
238 sh
$27,370
OHLGART CHRISTIANE MARGRIT
Chief Financial Officer
Sale at price 110.00 per share.
2026-05-07
756 sh
$83,160
OHLGART CHRISTIANE MARGRIT
Chief Financial Officer
Sale at price 89.70 per share.
2026-05-05
596 sh
$53,461
XIE MICHAEL
Chief Technology Officer
Sale at price 87.04 - 89.61 per share.
2026-05-04
2,478 sh
$220,281
XIE KENNETH QING
Chief Executive Officer
Sale at price 87.04 - 89.61 per share.
2026-05-04
5,355 sh
$476,035
WHITTLE JOHN
Chief Operating Officer
2026-05-01
4,572 sh
—
OHLGART CHRISTIANE MARGRIT
Chief Financial Officer
2026-05-01
4,903 sh
—
XIE KENNETH QING
Chief Executive Officer
2026-05-01
13,092 sh
—
XIE MICHAEL
Chief Technology Officer
2026-05-01
6,305 sh
—