Fortinet, Inc. (FTNT)

US — Technology Sector
Peers: CRWD  OKTA  NET  MDB  PANW  SPLK  ADBE  PLTR  ZS  PATH 

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Key Metrics & Ratings

  • symbol FTNT
  • Rev/Share 7.9945
  • Book/Share 2.5549
  • PB 39.9395
  • Debt/Equity 0.5069
  • CurrentRatio 1.3627
  • ROIC 0.2654

 

  • MktCap 78103048640.0
  • FreeCF/Share 2.691
  • PFCF 37.7766
  • PE 41.7162
  • Debt/Assets 0.0956
  • DivYield 0
  • ROE 1.6156

 

  • Rating B+
  • Score 3
  • Recommendation Neutral
  • P/E Score 2
  • DCF Score 4
  • P/B Score 1
  • D/E Score 2

Recent Analyst Ratings

Type Ticker Analyst Firm Previous Rating Current Rating Previous Price Target Current Price Target Date
Reiterated FTNT BMO Capital Markets -- Market Perform $122 $110 May 8, 2025
Downgrade FTNT DZ Bank Hold Sell -- $95 May 6, 2025
Initiation FTNT Roth Capital -- Neutral -- $103 April 23, 2025
Initiation FTNT Stephens -- Equal Weight -- $108 April 1, 2025
Resumed FTNT Morgan Stanley -- Overweight -- -- March 18, 2025
Downgrade FTNT Robert W. Baird Outperform Neutral $105 $112 Feb. 3, 2025
Downgrade FTNT Raymond James Outperform Market Perform -- -- Jan. 14, 2025
Upgrade FTNT Piper Sandler Neutral Overweight $100 $120 Jan. 6, 2025
Upgrade FTNT KeyBanc Capital Markets Sector Weight Overweight -- $115 Dec. 19, 2024
Downgrade FTNT Mizuho Neutral Underperform -- $68 Oct. 17, 2024

News

Fortinet's Sticky Firewall Offerings Trigger Further Upside Potential - Initiate Buy
FTNT
Published: May 30, 2025 by: Seeking Alpha
Sentiment: Positive

Fortinet's sticky firewall offerings have been exemplified by the robust performance metrics, as the increased adoption/cross-selling trigger higher ARRs and backlog. This is on top of the expanding profit margins and cash flows, with it already triggering the richer balance sheet and ongoing shareholder returns through share retirement. Despite the recent recovery, FTNT may deliver a further double digits upside potential, aided by the management's raised FY 2025 guidance.

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image for news Fortinet's Sticky Firewall Offerings Trigger Further Upside Potential - Initiate Buy
3 Key Reasons to Buy Fortinet Stock Beyond its 11% Year-to-Date Rise
FTNT
Published: May 29, 2025 by: Zacks Investment Research
Sentiment: Positive

FTNT's unified approach, rising AI and firewall solutions, and a strong Q1 despite macro uncertainties present a compelling entry point in the stock in 2025.

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image for news 3 Key Reasons to Buy Fortinet Stock Beyond its 11% Year-to-Date Rise
Spectrotel Achieves Expert Level in Fortinet's Engage Partner Program
FTNT
Published: May 29, 2025 by: GlobeNewsWire
Sentiment: Neutral

NEPTUNE, N.J., May 29, 2025 (GLOBE NEWSWIRE) -- Spectrotel, a leading provider of Managed Network Services, today announced that it has achieved Expert-level partner status within Fortinet's Engage Partner Program. This designation demonstrates Spectrotel's commitment to leveraging Fortinet's Security Fabric to deliver integrated, secure, and intelligent solutions that meet the complex needs of today's businesses. The achievement also highlights Spectrotel's investment in certifying its technical experts to deliver advanced security outcomes to partners and customers alike.

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image for news Spectrotel Achieves Expert Level in Fortinet's Engage Partner Program
Here's Why Fortinet (FTNT) is a Strong Growth Stock
FTNT
Published: May 29, 2025 by: Zacks Investment Research
Sentiment: Positive

Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.

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image for news Here's Why Fortinet (FTNT) is a Strong Growth Stock
BCI Wins Fortinet's Growth Partner of the Year Award
FTNT
Published: May 27, 2025 by: Business Wire
Sentiment: Neutral

RIDGELAND, Miss.--(BUSINESS WIRE)--BCI Wins Fortinet's Growth Partner of the Year Award.

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image for news BCI Wins Fortinet's Growth Partner of the Year Award
Fortinet Named a Challenger in the 2025 Gartner® Magic Quadrant™ for Security Service Edge
FTNT
Published: May 23, 2025 by: GlobeNewsWire
Sentiment: Neutral

Fortinet recognized in 11 Gartner® Magic Quadrant™ reports, including for Single-Vendor SASE, SD-WAN, and Security Service Edge, and we believe these recognitions highlight the strength of the Fortinet Security Fabric platform Fortinet recognized in 11 Gartner® Magic Quadrant™ reports, including for Single-Vendor SASE, SD-WAN, and Security Service Edge, and we believe these recognitions highlight the strength of the Fortinet Security Fabric platform

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image for news Fortinet Named a Challenger in the 2025 Gartner® Magic Quadrant™ for Security Service Edge
OKTA vs. Fortinet: Which Cybersecurity Stock Should You Bet On?
FTNT, OKTA
Published: May 20, 2025 by: Zacks Investment Research
Sentiment: Negative

Okta OKTA and Fortinet FTNT are both major players in the field of cybersecurity. While OKTA focuses on identity and access management, providing cloud-based solutions that help businesses safeguard user data, Fortinet is a well-known provider of network security appliances and a Unified Threat Management network solution.

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image for news OKTA vs. Fortinet: Which Cybersecurity Stock Should You Bet On?
FTNT vs. CSCO: Which Network Security Giant is the Better Investment?
CSCO, FTNT
Published: May 16, 2025 by: Zacks Investment Research
Sentiment: Neutral

Fortinet FTNT and Cisco Sytems CSCO are well-established players in the network security market. Both offer enterprise-grade cybersecurity solutions and network infrastructure, with Fortinet focused purely on security and Cisco blending security with broader networking products.

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image for news FTNT vs. CSCO: Which Network Security Giant is the Better Investment?
Fortinet (FTNT) is a Top-Ranked Momentum Stock: Should You Buy?
FTNT
Published: May 14, 2025 by: Zacks Investment Research
Sentiment: Positive

Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.

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image for news Fortinet (FTNT) is a Top-Ranked Momentum Stock: Should You Buy?
Why Fortinet (FTNT) is a Top Growth Stock for the Long-Term
FTNT
Published: May 13, 2025 by: Zacks Investment Research
Sentiment: Positive

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.

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image for news Why Fortinet (FTNT) is a Top Growth Stock for the Long-Term
Interpreting Fortinet (FTNT) International Revenue Trends
FTNT
Published: May 13, 2025 by: Zacks Investment Research
Sentiment: Negative

Review Fortinet's (FTNT) international revenue performance and how it affects the predictions of financial analysts on Wall Street and the future prospects for the stock.

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image for news Interpreting Fortinet (FTNT) International Revenue Trends
Why Fortinet Stock Is Today's Worst S&P 500 Performer
FTNT, IVV, SPLG, SPXL, SPY, SSO, UPRO, VOO
Published: May 08, 2025 by: Barrons
Sentiment: Negative

The cybersecurity stock fell despite beating earnings expectations.

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image for news Why Fortinet Stock Is Today's Worst S&P 500 Performer
Fortinet Q1 Earnings Surpass Expectations, Sales Increase Y/Y
FTNT
Published: May 08, 2025 by: Zacks Investment Research
Sentiment: Positive

FTNT's first-quarter 2025 earnings and revenues beat estimates, benefiting from strong growth in both product and services revenues.

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image for news Fortinet Q1 Earnings Surpass Expectations, Sales Increase Y/Y
Fortinet, Inc. (FTNT) Q1 2025 Earnings Call Transcript
FTNT
Published: May 07, 2025 by: Seeking Alpha
Sentiment: Neutral

Fortinet, Inc. (NASDAQ:FTNT ) Q1 2025 Earnings Conference Call May 7, 2025 4:30 PM ET Company Participants Aaron Ovadia - Senior Director of Investor Relations Ken Xie - Founder, Chairman and CEO Keith Jensen - CFO Christiane Ohlgart - CAO and Sales Operations Leader John Whittle - COO Conference Call Participants Brian Essex - JP Morgan Tal Liani - Bank of America Gabriela Borges - Goldman Sachs Keith Weiss - Morgan Stanley Shaul Eyal - TD Cowen Rob Owens - Piper Sandler Saket Kalia - Barclays Patrick Colville - Scotiabank Shrenik Kothari - Baird Brad Zelnick - Deutsche Bank Junaid …

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image for news Fortinet, Inc. (FTNT) Q1 2025 Earnings Call Transcript
Here's What Key Metrics Tell Us About Fortinet (FTNT) Q1 Earnings
FTNT
Published: May 07, 2025 by: Zacks Investment Research
Sentiment: Positive

The headline numbers for Fortinet (FTNT) give insight into how the company performed in the quarter ended March 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

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image for news Here's What Key Metrics Tell Us About Fortinet (FTNT) Q1 Earnings
Fortinet (FTNT) Beats Q1 Earnings and Revenue Estimates
FTNT
Published: May 07, 2025 by: Zacks Investment Research
Sentiment: Positive

Fortinet (FTNT) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.43 per share a year ago.

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image for news Fortinet (FTNT) Beats Q1 Earnings and Revenue Estimates
Fortinet Expands Hybrid Mesh Firewall Portfolio with FortiGate 700G
FTNT
Published: May 07, 2025 by: GlobeNewsWire
Sentiment: Neutral

New FortiGate series delivers scalable, high-performance security for the modern campus, now enhanced with FortiOS post-quantum capabilities and FortiAI-Protect for advanced threat detection and GenAI risk mitigation New FortiGate series delivers scalable, high-performance security for the modern campus, now enhanced with FortiOS post-quantum capabilities and FortiAI-Protect for advanced threat detection and GenAI risk mitigation

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image for news Fortinet Expands Hybrid Mesh Firewall Portfolio with FortiGate 700G
Fortinet: Buy For Their Diversified And SASE Segment Growth
FTNT
Published: May 06, 2025 by: Seeking Alpha
Sentiment: Positive

Fortinet (FTNT) is a leader in cybersecurity, excelling in firewall units and rapidly growing in the SASE market, making it a strong buy. FTNT's robust financial performance includes a 400% gain over 5 years, 12% YTD, and significant growth in revenue and profitability. The company's diversified customer base and geographic reach, along with strong technical indicators, bolster its investment appeal.

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image for news Fortinet: Buy For Their Diversified And SASE Segment Growth
Should You Buy, Sell or Hold Fortinet Stock Before Q1 Earnings?
FTNT
Published: May 05, 2025 by: Zacks Investment Research
Sentiment: Neutral

As Fortinet gears up to post its Q1 earnings, investors should hold their positions for now, given unattractive valuations and intensifying competition.

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image for news Should You Buy, Sell or Hold Fortinet Stock Before Q1 Earnings?
Why Fortinet (FTNT) Could Beat Earnings Estimates Again
FTNT
Published: May 02, 2025 by: Zacks Investment Research
Sentiment: Positive

Fortinet (FTNT) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

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image for news Why Fortinet (FTNT) Could Beat Earnings Estimates Again
BCI Strengthens National Presence with Strategic Acquisition of Pennsylvania-Based Fortinet Partner Trustlink Technologies
FTNT
Published: May 02, 2025 by: Business Wire
Sentiment: Neutral

RIDGELAND, Miss.--(BUSINESS WIRE)--BCI continues to make strategic moves, this time by acquiring Trustlink Technologies, a highly respected cybersecurity services and consulting firm in Harrisburg, Pennsylvania. This acquisition enhances BCI's cybersecurity expertise and expands its reach into Pennsylvania and neighboring regions, solidifying its presence across 25 states. As the only partner in North America to achieve all eight Fortinet specializations, BCI stands out in the industry. The rec.

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image for news BCI Strengthens National Presence with Strategic Acquisition of Pennsylvania-Based Fortinet Partner Trustlink Technologies
Ahead of Fortinet (FTNT) Q1 Earnings: Get Ready With Wall Street Estimates for Key Metrics
FTNT
Published: May 02, 2025 by: Zacks Investment Research
Sentiment: Neutral

Get a deeper insight into the potential performance of Fortinet (FTNT) for the quarter ended March 2025 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

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image for news Ahead of Fortinet (FTNT) Q1 Earnings: Get Ready With Wall Street Estimates for Key Metrics
Fortinet Trades at a Premium: Should You Hold or Fold the Stock?
FTNT
Published: April 30, 2025 by: Zacks Investment Research
Sentiment: Positive

Despite FTNT's solid growth, competitive pressures and macro headwinds suggest investors may benefit from awaiting a more attractive entry point in 2025.

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image for news Fortinet Trades at a Premium: Should You Hold or Fold the Stock?
Fortinet Threat Report Reveals Record Surge in Automated Cyberattacks as Adversaries Weaponize AI and Fresh Techniques
FTNT
Published: April 28, 2025 by: GlobeNewsWire
Sentiment: Neutral

FortiGuard Labs 2025 Global Threat Landscape Report highlights a boom in Cybercrime-as-a-Service on the darknet, fueling a lucrative market for credentials, exploits, and access

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image for news Fortinet Threat Report Reveals Record Surge in Automated Cyberattacks as Adversaries Weaponize AI and Fresh Techniques
Fortinet: Three Major Growth Catalysts
FTNT
Published: April 25, 2025 by: Seeking Alpha
Sentiment: Positive

Fortinet: Three Major Growth Catalysts

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image for news Fortinet: Three Major Growth Catalysts
Why Investors Need to Take Advantage of These 2 Computer and Technology Stocks Now
CSCO, FTNT
Published: April 24, 2025 by: Zacks Investment Research
Sentiment: Positive

The Zacks Earnings ESP is a great way to find potential earnings surprises. Why investors should take advantage now.

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image for news Why Investors Need to Take Advantage of These 2 Computer and Technology Stocks Now
Fortinet Achieves GovRAMP Security Authorization
FTNT
Published: April 23, 2025 by: GlobeNewsWire
Sentiment: Neutral

GovRAMP, formerly known as StateRAMP, authorization highlights Fortinet's ongoing commitment to secure critical government operations and functions with advanced threat intelligence GovRAMP, formerly known as StateRAMP, authorization highlights Fortinet's ongoing commitment to secure critical government operations and functions with advanced threat intelligence

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image for news Fortinet Achieves GovRAMP Security Authorization
BCI Reaches Unprecedented Number of Fortinet Certifications and Specializations
FTNT
Published: April 16, 2025 by: Business Wire
Sentiment: Neutral

RIDGELAND, Miss.--(BUSINESS WIRE)-- #BCI--BCI is thrilled to announce a groundbreaking achievement that highlights our commitment to excellence in cybersecurity. Our team has reached an impressive milestone, having achieved a significant level of expertise through extensive ongoing training and specialization. We are proud to announce that BCI now proudly employs four Fortinet Certified Experts (FCX), positioning us as the leading partner worldwide with the highest number of Fortinet certifications. B.

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image for news BCI Reaches Unprecedented Number of Fortinet Certifications and Specializations
3 Cybersecurity Stocks to Buy Now for Long-Term Opportunities
CHKP, FTNT, OKTA
Published: April 15, 2025 by: Zacks Investment Research
Sentiment: Positive

Three cybersecurity stocks have long-term potentials. These are: FTNT, OKTA, CHKP.

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image for news 3 Cybersecurity Stocks to Buy Now for Long-Term Opportunities
Why CrowdStrike, Palo Alto Networks, and Fortinet Stocks Rallied This Week
CRWD, FTNT, PANW
Published: April 11, 2025 by: The Motley Fool
Sentiment: Positive

Shares of cybersecurity leaders CrowdStrike Holdings (CRWD 0.92%), Palo Alto Networks (PANW -1.31%), and Fortinet (FTNT 0.51%) rallied 13%, 6%, and 13%, respectively, this week as of noon ET on Friday, according to data provided by S&P Global Market Intelligence.

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image for news Why CrowdStrike, Palo Alto Networks, and Fortinet Stocks Rallied This Week

About Fortinet, Inc. (FTNT)

  • IPO Date 2009-11-18
  • Website https://www.fortinet.com
  • Industry Software - Infrastructure
  • CEO Mr. Ken Xie
  • Employees 14556

Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products. It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiToken and FortiAuthenticator product families for multi-factor authentication to safeguard systems, assets, and data; and FortiEDR/XDR, an endpoint protection solution that provides both comprehensive machine-learning anti-malware execution and real-time post-infection protection. It provides security subscription, technical support, professional, and training services. It sells its security solutions to channel partners and directly to various customers in telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare industries. It has strategic alliance with Linksys. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.