Fortinet, Inc. (FTNT)

US — Technology Sector
Peers: CRWV  MSI  ADSK  INFY  SNPS  TEL  WDAY  MSTR  XYZ  STX 

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Key Metrics & Ratings

  • symbol FTNT
  • Rev/Share 8.5896
  • Book/Share 0.9633
  • PB 85.3414
  • Debt/Equity 1.3548
  • CurrentRatio 1.0266
  • ROIC 0.333

 

  • MktCap 62804413519.0
  • FreeCF/Share 2.6581
  • PFCF 30.9625
  • PE 33.4834
  • Debt/Assets 0.1064
  • DivYield 0
  • ROE 1.1987

 

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

Recent Analyst Ratings

Type Ticker Analyst Firm Previous Rating Current Rating Previous Price Target Current Price Target Date
Downgrade FTNT Daiwa Securities Outperform Neutral -- $86 Nov. 12, 2025
Downgrade FTNT Morgan Stanley Equal Weight Underweight -- $67 Sept. 2, 2025
Downgrade FTNT Erste Group Buy Hold -- -- Aug. 14, 2025
Upgrade FTNT DZ Bank Hold Buy -- $85 Aug. 8, 2025
Downgrade FTNT KeyBanc Capital Markets Overweight Sector Weight -- -- Aug. 7, 2025
Downgrade FTNT Piper Sandler Overweight Neutral -- $90 Aug. 7, 2025
Downgrade FTNT Morgan Stanley Overweight Equal Weight -- $78 Aug. 7, 2025
Reiterated FTNT BMO Capital Markets -- Market Perform $110 $90 Aug. 7, 2025
Downgrade FTNT TD Cowen Buy Hold -- $105 Aug. 7, 2025
Downgrade FTNT Rosenblatt Buy Neutral -- $85 Aug. 7, 2025

News

5 High-ROE Stocks to Buy as Markets Soar Despite Tariff Threats
BBVA, CL, DIS, FTNT, TEL
Published: July 15, 2025 by: Zacks Investment Research
Sentiment: Positive

DIS, TEL, FTNT, BBVA and CL are some of the stocks with high ROE to profit from as markets rise despite a fresh tariff salvo.

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image for news 5 High-ROE Stocks to Buy as Markets Soar Despite Tariff Threats
Top Stock Movers Now: Autodesk, Fortinet, Waters, and More
ADSK, FTNT, WAT
Published: July 14, 2025 by: Investopedia
Sentiment: Neutral

Major U.S. equities indexes were little changed at midday Monday, as investors weighed the possible impact of the latest tariff announcements from President Trump.

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image for news Top Stock Movers Now: Autodesk, Fortinet, Waters, and More
FTNT's Subscription-Based Services Gain Steam: A Sign of More Upside?
FTNT
Published: July 10, 2025 by: Zacks Investment Research
Sentiment: Positive

Fortinet's recurring revenues climb as demand for SASE and SecOps solutions drives its subscription model forward.

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image for news FTNT's Subscription-Based Services Gain Steam: A Sign of More Upside?
FTNT vs. CHKP: Which Network Security Stock is the Better Pick?
CHKP, FTNT
Published: July 09, 2025 by: Zacks Investment Research
Sentiment: Positive

Fortinet beats Check Point with superior growth momentum, stronger SASE positioning, and firewall refresh catalysts.

Read More
image for news FTNT vs. CHKP: Which Network Security Stock is the Better Pick?
Fortinet Report: OT Cybersecurity Risk Elevates within Executive Leadership Ranks
FTNT
Published: July 09, 2025 by: GlobeNewsWire
Sentiment: Neutral

More than half (52%) of organizations report that the CISO/CSO is responsible for OT, up from 16% in 2022, while 95% of organizations report that the C-suite is responsible for OT, up from 41% in 2022 More than half (52%) of organizations report that the CISO/CSO is responsible for OT, up from 16% in 2022, while 95% of organizations report that the C-suite is responsible for OT, up from 41% in 2022

Read More
image for news Fortinet Report: OT Cybersecurity Risk Elevates within Executive Leadership Ranks
Is Fortinet Ready to Break Out After Months of Consolidation?
FTNT
Published: July 08, 2025 by: MarketBeat
Sentiment: Positive

Over the past few months, market momentum has surged, with several sectors outperforming the broader market. While financials, technology, and even utilities have all shown strength, the cybersecurity industry remains a consistent outperformer.

Read More
image for news Is Fortinet Ready to Break Out After Months of Consolidation?
Fortinet: Highly Profitable, Founder-Led, And With Industry Tailwinds
FTNT
Published: July 02, 2025 by: Seeking Alpha
Sentiment: Positive

The cybersecurity industry enjoys robust growth, with remote work, cloud, and AI providing strong tailwinds for Fortinet. Fortinet is led by its founders, who have a proven track record and a substantial stake in the company. Margin expansion, strong revenue growth, and high ROIC highlight Fortinet's focus on profitability versus peers.

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image for news Fortinet: Highly Profitable, Founder-Led, And With Industry Tailwinds
Fortinet Recognized as the Overall Leader for the Third Time in a Row in the Westlands Advisory IT/OT Network Protection Platform Navigator 2025™ Report
FTNT
Published: July 01, 2025 by: GlobeNewsWire
Sentiment: Neutral

Fortinet earns top ranking in both Strategic Direction and Capability Fortinet earns top ranking in both Strategic Direction and Capability

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image for news Fortinet Recognized as the Overall Leader for the Third Time in a Row in the Westlands Advisory IT/OT Network Protection Platform Navigator 2025™ Report
What Makes FortiGate the Core Driver of Fortinet's Product Growth?
FTNT
Published: June 30, 2025 by: Zacks Investment Research
Sentiment: Positive

FortiGate continues to power FTNT's growth with mid-teens hardware gains and new launches like the 700G series for enterprises.

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image for news What Makes FortiGate the Core Driver of Fortinet's Product Growth?
Fortinet Named a Leader in the 2025 Gartner® Magic Quadrant™ for Enterprise Wired and Wireless LAN Infrastructure for the Second Year in a Row
FTNT
Published: June 30, 2025 by: GlobeNewsWire
Sentiment: Neutral

Fortinet wired and WLAN solutions have long been integrated into the Fortinet Security Fabric, delivering a proven, AI-powered platform that converges networking and security to reduce complexity, mitigate cyber risk, lower costs, and improve performance Fortinet wired and WLAN solutions have long been integrated into the Fortinet Security Fabric, delivering a proven, AI-powered platform that converges networking and security to reduce complexity, mitigate cyber risk, lower costs, and improve performance

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image for news Fortinet Named a Leader in the 2025 Gartner® Magic Quadrant™ for Enterprise Wired and Wireless LAN Infrastructure for the Second Year in a Row
FTNT's Unified SASE Strategy Drives Growth: Hold or Fold the Stock?
FTNT
Published: June 26, 2025 by: Zacks Investment Research
Sentiment: Neutral

Fortinet's unified SASE strategy fuels growth, but premium valuation and fierce competition keep the stock in hold territory.

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image for news FTNT's Unified SASE Strategy Drives Growth: Hold or Fold the Stock?
Final Trades: Crowdstrike, Leidos Holdings, Fortinet and the BUG
CRWD, FTNT, LDOS
Published: June 23, 2025 by: CNBC Television
Sentiment: Neutral

The Investment Committee react to the news out of Qatar and give you their top stocks to watch for the second half.

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image for news Final Trades: Crowdstrike, Leidos Holdings, Fortinet and the BUG
Fortinet Strengthens Code-to-Cloud Security with CNAPP Enhancements and Launches Expanded Solution Availability in AWS Marketplace
FTNT
Published: June 17, 2025 by: GlobeNewsWire
Sentiment: Neutral

SUNNYVALE, Calif., June 17, 2025 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced powerful updates to Lacework FortiCNAPP, making it easier than ever for customers to secure applications and workloads across hybrid and multi-cloud environments.

Read More
image for news Fortinet Strengthens Code-to-Cloud Security with CNAPP Enhancements and Launches Expanded Solution Availability in AWS Marketplace
Here's Why Fortinet (FTNT) is a Strong Growth Stock
FTNT
Published: June 16, 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.

Read More
image for news Here's Why Fortinet (FTNT) is a Strong Growth Stock
Is Fortinet's FortiGuard AI Service Becoming a Key Growth Driver?
FTNT
Published: June 09, 2025 by: Zacks Investment Research
Sentiment: Positive

FTNT leans into FortiGuard AI to drive growth, as services now make up 70% of revenues and power key product innovations.

Read More
image for news Is Fortinet's FortiGuard AI Service Becoming a Key Growth Driver?
SentinelOne vs. Fortinet: Which Cybersecurity Stock is the Better Buy?
FTNT, S
Published: June 06, 2025 by: Zacks Investment Research
Sentiment: Positive

S is outpacing FTNT in AI-led security, platform growth and adoption across the enterprise and public sectors.

Read More
image for news SentinelOne vs. Fortinet: Which Cybersecurity Stock is the Better Buy?
Why Is Fortinet (FTNT) Up 5.9% Since Last Earnings Report?
FTNT
Published: June 06, 2025 by: Zacks Investment Research
Sentiment: Positive

Fortinet (FTNT) reported earnings 30 days ago. What's next for the stock?

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image for news Why Is Fortinet (FTNT) Up 5.9% Since Last Earnings Report?
Fortinet, Inc. (FTNT) Bank of America Global Technology Conference (Transcript)
FTNT
Published: June 03, 2025 by: Seeking Alpha
Sentiment: Neutral

Fortinet, Inc. (NASDAQ:FTNT ) Bank of America Global Technology Conference June 3, 2025 12:20 PM ET Company Participants Ken Xie - CEO Christiane Ohlgart - CFO Conference Call Participants Tal Liani - BAML Tal Liani [Call Started Abruptly] I wanted to get your perspective. Christiane Ohlgart Yes.

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image for news Fortinet, Inc. (FTNT) Bank of America Global Technology Conference (Transcript)
What Makes Fortinet (FTNT) a New Buy Stock
FTNT
Published: June 03, 2025 by: Zacks Investment Research
Sentiment: Positive

Fortinet (FTNT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

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image for news What Makes Fortinet (FTNT) a New Buy Stock
Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?
FTNT
Published: June 03, 2025 by: Zacks Investment Research
Sentiment: Positive

Here is how Fortinet (FTNT) and CyberAgent (CYGIY) have performed compared to their sector so far this year.

Read More
image for news Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?
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.

Read More
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.

Read More
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.

Read More
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.

Read More
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.

Read More
image for news Why Fortinet (FTNT) is a Top Growth Stock for the Long-Term

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.