Fortinet, Inc. (FTNT)

US — Technology Sector
Peers: ZS  PANW  CRWD  OKTA  NET  NOW 

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Key Metrics & Ratings

  • symbol FTNT
  • Rev/Share 8.2643
  • Book/Share 2.6867
  • PB 28.9021
  • Debt/Equity 0.4831
  • CurrentRatio 1.3285
  • ROIC 0.2613

 

  • MktCap 59500554900.0
  • FreeCF/Share 2.6505
  • PFCF 29.2717
  • PE 30.7021
  • Debt/Assets 0.0935
  • DivYield 0
  • ROE 1.2075

 

  • Rating B+
  • Score 3
  • Recommendation Neutral
  • P/E Score 1
  • 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
Downgrade FTNT Erste Group Buy Hold -- -- Aug. 14, 2025
Upgrade FTNT DZ Bank Hold Buy -- $85 Aug. 8, 2025
Downgrade FTNT TD Cowen Buy Hold -- $105 Aug. 7, 2025
Reiterated FTNT BMO Capital Markets -- Market Perform $110 $90 Aug. 7, 2025
Downgrade FTNT KeyBanc Capital Markets Overweight Sector Weight -- -- Aug. 7, 2025
Downgrade FTNT Morgan Stanley Overweight Equal Weight -- $78 Aug. 7, 2025
Downgrade FTNT Piper Sandler Overweight Neutral -- $90 Aug. 7, 2025
Downgrade FTNT Rosenblatt Buy Neutral -- $85 Aug. 7, 2025
Reiterated FTNT BMO Capital Markets -- Market Perform $122 $110 May 8, 2025
Downgrade FTNT DZ Bank Hold Sell -- $95 May 6, 2025

News

Fortinet Named a Leader in the 2025 Gartner® Magic Quadrant™ for Hybrid Mesh Firewall
FTNT
Published: August 27, 2025 by: GlobeNewsWire
Sentiment: Neutral

SUNNYVALE, Calif., Aug. 27, 2025 (GLOBE NEWSWIRE) -- News Summary Fortinet ® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced it has been recognized as a Leader in the 2025 Gartner Magic Quadrant for Hybrid Mesh Firewall (HMF) and was positioned highest for Ability to Execute.

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image for news Fortinet Named a Leader in the 2025 Gartner® Magic Quadrant™ for Hybrid Mesh Firewall
Fortinet Captures EMEA Momentum: Can It Secure Long-Term Growth?
FTNT
Published: August 27, 2025 by: Zacks Investment Research
Sentiment: Positive

FTNT's EMEA revenues jump 18% in Q2, outpacing other regions and beating estimates, making the region central to its growth strategy.

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image for news Fortinet Captures EMEA Momentum: Can It Secure Long-Term Growth?
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fortinet, Inc. - FTNT
FTNT
Published: August 27, 2025 by: PRNewsWire
Sentiment: Neutral

NEW YORK , Aug. 27, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Fortinet, Inc. ("Fortinet" or the "Company") (NASDAQ: FTNT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext.

Read More
image for news INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fortinet, Inc. - FTNT
Fortinet: I'm Buying More After Q2 Results
FTNT
Published: August 26, 2025 by: Seeking Alpha
Sentiment: Positive

Fortinet's 30% stock drop is unjustified in my view; fundamentals remain strong, and recent results do not break the investment thesis. Growth in high-margin, recurring revenue segments like Unified SASE (22%) and SecOps (35%) reinforces Fortinet's strategic positioning. Profitability remains sector-leading, with record gross margins and robust free cash flow, despite a temporary operating margin dip from strategic investments.

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image for news Fortinet: I'm Buying More After Q2 Results
Fortinet Named Title Partner of the Founders Cup
FTNT
Published: August 26, 2025 by: GlobeNewsWire
Sentiment: Neutral

2026 Fortinet Founders Cup will be played at Sharon Heights Golf & Country Club in Menlo Park, California 2026 Fortinet Founders Cup will be played at Sharon Heights Golf & Country Club in Menlo Park, California

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image for news Fortinet Named Title Partner of the Founders Cup
Fortinet, Inc. (FTNT) Goldman Sachs Fireside Chat Conference Call (Transcript)
FTNT
Published: August 25, 2025 by: Seeking Alpha
Sentiment: Neutral

Fortinet, Inc. (NASDAQ:FTNT ) Goldman Sachs Fireside Chat Conference Call August 25, 2025 10:30 AM ET Company Participants Christiane Ohlgart - Chief Accounting Officer, CFO and Principal Financial & Accounting Officer Ken Xie - Co-Founder, Chairman & CEO Conference Call Participants Gabriela Borges - Goldman Sachs Group, Inc., Research Division Gabriela Borges All right. Fantastic.

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image for news Fortinet, Inc. (FTNT) Goldman Sachs Fireside Chat Conference Call (Transcript)
Kirby McInerney LLP Announces Investigation Against Fortinet, Inc. on Behalf of Investors
FTNT
Published: August 25, 2025 by: GlobeNewsWire
Sentiment: Neutral

NEW YORK, Aug. 25, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Fortinet, Inc. (“Fortinet” or the “Company”) (NASDAQ: FTNT). The investigation concerns whether Fortinet and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

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image for news Kirby McInerney LLP Announces Investigation Against Fortinet, Inc. on Behalf of Investors
Fortinet Expands Share Buyback Program by $1B: Buy Now or Hold?
FTNT
Published: August 25, 2025 by: Zacks Investment Research
Sentiment: Positive

FTNT's $1B buyback expansion signals confidence, but premium valuation and rising competition suggest waiting for better entry points despite solid fundamentals.

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image for news Fortinet Expands Share Buyback Program by $1B: Buy Now or Hold?
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fortinet, Inc. - FTNT
FTNT
Published: August 25, 2025 by: GlobeNewsWire
Sentiment: Neutral

NEW YORK, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Fortinet, Inc. (“Fortinet” or the “Company”) (NASDAQ: FTNT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

Read More
image for news INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fortinet, Inc. - FTNT
Securities Fraud Investigation Into Fortinet, Inc. (FTNT) Announced – Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm
FTNT
Published: August 21, 2025 by: Business Wire
Sentiment: Neutral

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Fortinet, Inc. (“Fortinet” or the “Company”) (NASDAQ: FTNT) investors concerning the Company's possible violations of the federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON FORTINET, INC. (FTNT), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS. What Happened? On August 6, 202.

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image for news Securities Fraud Investigation Into Fortinet, Inc. (FTNT) Announced – Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm
NASDAQ: FTNT Investigation Alert: Kessler Topaz Meltzer & Check, LLP Encourages Fortinet, Inc. (NASDAQ: FTNT) Investors with Significant Losses to Contact the Firm
FTNT
Published: August 21, 2025 by: Business Wire
Sentiment: Neutral

RADNOR, Pa.--(BUSINESS WIRE)-- #classaction--The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Fortinet, Inc. (NASDAQ: FTNT) (“Fortinet”). On August 6, 2025, Fortinet reported disappointing second-quarter 2025 financial results. In response, several analysts downgraded their rating on Fortinet's stock citing concerns regarding the company's firewall refresh cycle. On this news, Fortinet.

Read More
image for news NASDAQ: FTNT Investigation Alert: Kessler Topaz Meltzer & Check, LLP Encourages Fortinet, Inc. (NASDAQ: FTNT) Investors with Significant Losses to Contact the Firm
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fortinet, Inc. - FTNT
FTNT
Published: August 21, 2025 by: GlobeNewsWire
Sentiment: Neutral

NEW YORK, Aug. 21, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Fortinet, Inc. (“Fortinet” or the “Company”) (NASDAQ: FTNT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

Read More
image for news INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fortinet, Inc. - FTNT
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fortinet, Inc. - FTNT
FTNT
Published: August 21, 2025 by: GlobeNewsWire
Sentiment: Neutral

NEW YORK, Aug. 21, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Fortinet, Inc. (“Fortinet” or the “Company”) (NASDAQ: FTNT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

Read More
image for news INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Fortinet, Inc. - FTNT
FTNT Rides on Strong Billings Trend: Will the Momentum Sustain?
FTNT
Published: August 19, 2025 by: Zacks Investment Research
Sentiment: Positive

Fortinet sustains double-digit billings growth, boosted by cloud services, large enterprise wins and a raised full-year outlook.

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image for news FTNT Rides on Strong Billings Trend: Will the Momentum Sustain?
FTNT vs. QLYS: Which Cybersecurity Stock Deserves Your Investment?
FTNT, QLYS
Published: August 19, 2025 by: Zacks Investment Research
Sentiment: Positive

Qualys' AI-powered innovation & 82% margins outshine Fortinet's growth concerns. Buy QLYS for superior tech.

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image for news FTNT vs. QLYS: Which Cybersecurity Stock Deserves Your Investment?
Fortinet Boosts FortiRecon With CTEM to Strengthen Cyber Defenses
FTNT
Published: August 15, 2025 by: Zacks Investment Research
Sentiment: Positive

FTNT enhances FortiRecon with CTEM alignment, brand protection and AI-driven automation to tackle evolving cyber threats.

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image for news Fortinet Boosts FortiRecon With CTEM to Strengthen Cyber Defenses
Fortinet: Thesis Breakage Or Market Exaggeration?
FTNT
Published: August 15, 2025 by: Seeking Alpha
Sentiment: Positive

Fortinet's stock drop is excessive; strong management, scalable products, and SASE growth support my long-term bullish thesis. Q2 results were solid: EPS beat, billings guidance raised, and firewall renewal cycle is progressing as planned, despite margin compression from investments. Market overreacted to lower product segment growth, but hardware is just an enabler for high-margin services, which remain the core value driver.

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image for news Fortinet: Thesis Breakage Or Market Exaggeration?
Fortinet (FTNT) International Revenue Performance Explored
FTNT
Published: August 11, 2025 by: Zacks Investment Research
Sentiment: Neutral

Explore Fortinet's (FTNT) international revenue trends and how these numbers impact Wall Street's forecasts and what's ahead for the stock.

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image for news Fortinet (FTNT) International Revenue Performance Explored
Fortinet: Strong ARR And Billings Acceleration Support FY25 Growth Story
FTNT
Published: August 11, 2025 by: Seeking Alpha
Sentiment: Positive

Fortinet is a Buy for long-term investors, combining sustainable growth, high profitability, and a strong strategic position in cybersecurity. Subscription revenue growth, margin stability, and leadership in network convergence and SASE drive confidence in continued outperformance and customer retention. Valuation models suggest 12–21% upside, with shares trading below historical multiples and strong cash flow supporting aggressive buybacks.

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image for news Fortinet: Strong ARR And Billings Acceleration Support FY25 Growth Story
Fortinet Shot Its Cyber Growth Story In The Foot
FTNT
Published: August 11, 2025 by: Seeking Alpha
Sentiment: Positive

Fortinet raised billings growth guidance to +12% growth in CY25 but kept margins and revenue guidance the same, leading to some questions about growth. Markets were shocked to learn that the company was already cycling through half its firewall upgrade cycle, but the long-touted growth in services from upsell opportunities was still missing. It also didn't help that FTNT was trading at a forward PE of +40x before Q2 earnings, leaving management very little room for error.

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image for news Fortinet Shot Its Cyber Growth Story In The Foot
Fortinet Is Not Dead Yet: Add On Q2 2025 Earnings Pullback
FTNT
Published: August 08, 2025 by: Seeking Alpha
Sentiment: Negative

I'm doubling down on my buy call on Fortinet after the post-earnings sell-off, citing long-term growth potential and attractive valuation versus peers.

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image for news Fortinet Is Not Dead Yet: Add On Q2 2025 Earnings Pullback
Fortinet: FTNT Stock To $150?
FTNT
Published: August 08, 2025 by: Forbes
Sentiment: Positive

Fortinet (NASDAQ:FTNT), a cybersecurity firm with a market capitalization of $58 billion, presents a compelling investment opportunity with the potential to double its stock price within the next four to five years. This optimistic perspective is grounded in the company's consistent revenue growth and the market's readiness to assign premium valuations to leading cybersecurity firms.

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image for news Fortinet: FTNT Stock To $150?
3 Cybersecurity Stocks to Watch Amid Sector Meltdown
CRWD, FTNT, S
Published: August 07, 2025 by: Schaeffers Research
Sentiment: Negative

Fortinet Inc (NASDAQ:FTNT) is one of the worst stocks on the Nasdaq Composite (IXIC) today, last seen down 25.9% to trade at $71.61.

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image for news 3 Cybersecurity Stocks to Watch Amid Sector Meltdown
How options trading in Palantir, Uber and Fortinet offers clues to the stocks' postearnings moves
FTNT, PLTR, UBER
Published: August 07, 2025 by: Market Watch
Sentiment: Neutral

Key market indicators currently point to more upside for the S&P 500.

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image for news How options trading in Palantir, Uber and Fortinet offers clues to the stocks' postearnings moves
Why Fortinet's stock could see its worst drop on record
FTNT
Published: August 07, 2025 by: Market Watch
Sentiment: Negative

The cybersecurity company just shared that it's 40% to 50% done with an upgrade cycle for firewalls — but some analysts think that limits future opportunities.

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image for news Why Fortinet's stock could see its worst drop on record
Top Stock Movers Now: DoorDash, Fortinet, Eli Lilly, and More
DASH, FTNT, LLY
Published: August 07, 2025 by: Investopedia
Sentiment: Negative

U.S. equities were mixed at midday as the market continued to focus on earnings, and new U.S. tariffs kicked in. The Nasdaq was up, while the Dow Jones Industrial Average and S&P 500 fell.

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image for news Top Stock Movers Now: DoorDash, Fortinet, Eli Lilly, and More
Fortinet Q2 Earnings Surpass Estimates, Sales Increase Y/Y
FTNT
Published: August 07, 2025 by: Zacks Investment Research
Sentiment: Positive

FTNT beats Q2 estimates with 13.6% revenue growth, driven by strong gains in EMEA, SASE and SecOps segments.

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image for news Fortinet Q2 Earnings Surpass Estimates, Sales Increase Y/Y
Great Plains Communications Leverages Fortinet Technology to Provide Next-Generation Firewall Services for Small to Medium Sized Businesses
FTNT
Published: August 05, 2025 by: GlobeNewsWire
Sentiment: Neutral

Blair, Nebraska, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Great Plains Communications (GPC), the leading Midwestern telecommunications provider, today announced it will be leveraging Fortinet FortiGate Next-Generation Firewalls to deliver fully managed firewall and cybersecurity services. As small and medium-sized businesses increasingly rely on the public internet for mission-critical applications, GPC's high-speed internet access paired with Fortinet's advanced firewall protection, ensures secure, fast and reliable connectivity. Smaller businesses often lack the robust security resources of large enterprises making them particularly vulnerable to cyber and other security threats. Great Plains Communications offers managed network security services powered by Fortinet FortiGate Next Generation …

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image for news Great Plains Communications Leverages Fortinet Technology to Provide Next-Generation Firewall Services for Small to Medium Sized Businesses
Fortinet Stock Before Q2 Earnings: Buy Now or Wait for Results?
FTNT
Published: August 04, 2025 by: Zacks Investment Research
Sentiment: Positive

Buy Fortinet ahead of Q2 results. Record margins, FortiGate 700G launch, and 18% SASE growth create compelling earnings catalysts for August performance.

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image for news Fortinet Stock Before Q2 Earnings: Buy Now or Wait for Results?
What Analyst Projections for Key Metrics Reveal About Fortinet (FTNT) Q2 Earnings
FTNT
Published: August 01, 2025 by: Zacks Investment Research
Sentiment: Neutral

Evaluate the expected performance of Fortinet (FTNT) for the quarter ended June 2025, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

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image for news What Analyst Projections for Key Metrics Reveal About Fortinet (FTNT) Q2 Earnings

About Fortinet, Inc. (FTNT)

  • IPO Date 2009-11-18
  • Website https://www.fortinet.com
  • Industry Software - Infrastructure
  • CEO 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.