S&P 500   5,123.41 (-1.46%)
DOW   37,983.24 (-1.24%)
QQQ   438.27 (-1.59%)
AAPL   176.55 (+0.86%)
MSFT   421.90 (-1.41%)
META   511.96 (-2.14%)
GOOGL   157.74 (-1.05%)
AMZN   186.13 (-1.54%)
TSLA   171.05 (-2.03%)
NVDA   881.86 (-2.68%)
AMD   163.28 (-4.23%)
NIO   4.11 (-7.85%)
BABA   71.29 (-4.76%)
T   16.31 (-0.67%)
F   12.61 (-3.30%)
MU   122.67 (-3.80%)
GE   154.63 (-1.93%)
CGC   7.80 (-4.29%)
DIS   114.01 (-2.68%)
AMC   2.65 (-5.36%)
PFE   25.86 (-1.82%)
PYPL   64.59 (-1.84%)
XOM   120.37 (-1.17%)
S&P 500   5,123.41 (-1.46%)
DOW   37,983.24 (-1.24%)
QQQ   438.27 (-1.59%)
AAPL   176.55 (+0.86%)
MSFT   421.90 (-1.41%)
META   511.96 (-2.14%)
GOOGL   157.74 (-1.05%)
AMZN   186.13 (-1.54%)
TSLA   171.05 (-2.03%)
NVDA   881.86 (-2.68%)
AMD   163.28 (-4.23%)
NIO   4.11 (-7.85%)
BABA   71.29 (-4.76%)
T   16.31 (-0.67%)
F   12.61 (-3.30%)
MU   122.67 (-3.80%)
GE   154.63 (-1.93%)
CGC   7.80 (-4.29%)
DIS   114.01 (-2.68%)
AMC   2.65 (-5.36%)
PFE   25.86 (-1.82%)
PYPL   64.59 (-1.84%)
XOM   120.37 (-1.17%)
S&P 500   5,123.41 (-1.46%)
DOW   37,983.24 (-1.24%)
QQQ   438.27 (-1.59%)
AAPL   176.55 (+0.86%)
MSFT   421.90 (-1.41%)
META   511.96 (-2.14%)
GOOGL   157.74 (-1.05%)
AMZN   186.13 (-1.54%)
TSLA   171.05 (-2.03%)
NVDA   881.86 (-2.68%)
AMD   163.28 (-4.23%)
NIO   4.11 (-7.85%)
BABA   71.29 (-4.76%)
T   16.31 (-0.67%)
F   12.61 (-3.30%)
MU   122.67 (-3.80%)
GE   154.63 (-1.93%)
CGC   7.80 (-4.29%)
DIS   114.01 (-2.68%)
AMC   2.65 (-5.36%)
PFE   25.86 (-1.82%)
PYPL   64.59 (-1.84%)
XOM   120.37 (-1.17%)
S&P 500   5,123.41 (-1.46%)
DOW   37,983.24 (-1.24%)
QQQ   438.27 (-1.59%)
AAPL   176.55 (+0.86%)
MSFT   421.90 (-1.41%)
META   511.96 (-2.14%)
GOOGL   157.74 (-1.05%)
AMZN   186.13 (-1.54%)
TSLA   171.05 (-2.03%)
NVDA   881.86 (-2.68%)
AMD   163.28 (-4.23%)
NIO   4.11 (-7.85%)
BABA   71.29 (-4.76%)
T   16.31 (-0.67%)
F   12.61 (-3.30%)
MU   122.67 (-3.80%)
GE   154.63 (-1.93%)
CGC   7.80 (-4.29%)
DIS   114.01 (-2.68%)
AMC   2.65 (-5.36%)
PFE   25.86 (-1.82%)
PYPL   64.59 (-1.84%)
XOM   120.37 (-1.17%)

Fortinet (FTNT) Stock Price, News & Analysis

$66.45
-1.77 (-2.59%)
(As of 04:28 PM ET)
Today's Range
$65.93
$67.72
50-Day Range
$65.34
$73.07
52-Week Range
$44.12
$81.24
Volume
4.98 million shs
Average Volume
6.05 million shs
Market Capitalization
$50.70 billion
P/E Ratio
45.83
Dividend Yield
N/A
Price Target
$72.35

Fortinet MarketRank™ Stock Analysis

Analyst Rating
Hold
2.27 Rating Score
Upside/​Downside
9.0% Upside
$72.35 Price Target
Short Interest
Healthy
1.73% of Shares Sold Short
Dividend Strength
N/A
Sustainability
-0.69
Upright™ Environmental Score
News Sentiment
0.43mentions of Fortinet in the last 14 days
Based on 15 Articles This Week
Insider Trading
Selling Shares
$7.42 M Sold Last Quarter
Proj. Earnings Growth
13.67%
From $1.39 to $1.58 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.30 out of 5 stars

Computer And Technology Sector

331st out of 1,803 stocks

Computer Peripheral Equipment, Not Elsewhere Classified Industry

7th out of 39 stocks

FTNT stock logo

About Fortinet Stock (NASDAQ:FTNT)

Fortinet Inc. is a leading provider of cybersecurity solutions for businesses, governments and service providers. The company's products and services help organizations protect their networks, data and applications from cyber threats. Fortinet was founded in 2000 and is headquartered in Sunnyvale, California. The company has offices in more than 40 countries and a customer base across industries.

Fortinet's solutions include network security, firewalls, VPNs, intrusion prevention systems and endpoint security, including antivirus and anti-malware protection. The company also offers cloud security, which helps customers secure their cloud environments and application security, which includes web application firewalls and API security solutions. Fortinet's products are designed to work together as a cohesive security system, providing customers with a comprehensive approach to cybersecurity.

Ken Xie is the founder, board chairman and CEO of Fortinet. He has over 25 years of experience in the networking and security industries and is widely recognized as a thought leader in cybersecurity. Other key management team members include Keith Jensen, who has been with Fortinet since 2014 and has nearly 30 years of experience in cloud-based software systems. 

Fortinet has been consistently profitable over the past few years, with revenue growing steadily. The company's net income has also been increasing steadily since 2017. Fortinet's profit margin has remained steady, at around 16% over the past few years. The company has a healthy balance sheet with nearly three times more assets than liabilities. Fortinet's price-to-earnings and price-to-book ratios outpace the industry average by approximately 25%. While Fortinet's valuation metrics are higher than the industry average, this is likely due to the company's strong growth prospects and market position. Fortinet's stock price has shown strong growth over the past few years, with the share price increasing from around $40 in early 2017 to a daily average of between $60 and $80 per share. The company's market capitalization has grown from approximately $6 billion in 2017 to over $60 billion in 2022. Fortinet's trading volume has also increased, reflecting growing investor interest.

The cybersecurity industry is growing rapidly, driven by the increasing threat of cyberattacks and the growing awareness of the importance of cybersecurity among businesses and individuals. Fortinet faces significant competition from other cybersecurity vendors, including Check Point Software Technologies, Palo Alto Networks and Cisco Systems. However, the company's broad range of solutions and a strong reputation for quality and reliability give it a competitive advantage.

The cybersecurity industry is also subject to various regulatory and political issues, including data privacy regulations and concerns over state-sponsored cyberattacks. Fortinet has proactively addressed these issues, working closely with governments and industry organizations to develop best practices and standards for cybersecurity.

Fortinet is well-positioned to benefit from the growing demand for cybersecurity solutions. The company's broad range of products and services gives it a competitive advantage. Fortinet has invested heavily in research and development, focusing on developing innovative solutions to address emerging threats.

With more businesses moving to the cloud, demand for cloud security solutions is growing rapidly. Fortinet has expanded its cloud security offerings, including its FortiCASB solution, which helps customers secure their cloud environments. Customers have received Fortinet's cloud security solutions well, and Fortinet is well-positioned to benefit from the growing demand for cloud security solutions.

Another growth opportunity for Fortinet is in the area of managed security services. Businesses increasingly rely on technology to run their operations, so they contact third-party providers to address their cybersecurity needs. Fortinet has expanded its managed security services offerings, including its FortiGuard Managed Security Services, which provides customers with around-the-clock threat monitoring and management. Customers have received the company's managed security services well.

Like any company, Fortinet faces a range of risks and challenges. One critical risk is the increasing sophistication of cyber threats. Fortinet has invested heavily in research and development to stay ahead of emerging threats.

Another critical risk is the potential for regulatory and political issues to impact the cybersecurity industry. For example, changes in data privacy regulations or concerns over state-sponsored cyberattacks could impact the demand for cybersecurity solutions. Fortinet has proactively addressed these issues, but there is no guarantee that the company will navigate these challenges successfully.

Finally, Fortinet faces significant competition in the cybersecurity industry. While the company has a strong reputation and a broad range of solutions, many other cybersecurity vendors are vying for market share. Fortinet must continue to innovate and differentiate itself to remain competitive in the marketplace.

FTNT Stock Price History

FTNT Stock News Headlines

BlackBerry Gains on IoT Growth, but Sours on Guidance Cut (FTNT)
BlackBerry continues to transition into a software company, but while the company is growing revenue in its IoT sector, weak guidance is a headwind
The next Nvidia (and it’s not Microsoft or Facebook)
Imagine buying Bitcoin at $1,000. That would have been the trade of the decade... right? Well, I think there's an even bigger play to be made in the A.I. space.
Sentinel One Stock Is the Growth Story Goldman Sachs Is Buying (FTNT)
Goldman Sachs has SentinelOne as a top pick for the coming months, and one last-minute buyer placed a multi-million dollar bet just before earnings are out
Fortinet (NASDAQ:FTNT) Upgraded to Buy at StockNews.com
Fortinet Releases its 2023 Sustainability Report
The next Nvidia (and it’s not Microsoft or Facebook)
Imagine buying Bitcoin at $1,000. That would have been the trade of the decade... right? Well, I think there's an even bigger play to be made in the A.I. space.
See More Headlines
Receive FTNT Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Fortinet and its competitors with MarketBeat's FREE daily newsletter.

Company Calendar

Last Earnings
2/05/2024
Today
4/12/2024
Next Earnings (Confirmed)
5/02/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Computer peripheral equipment, not elsewhere classified
Sub-Industry
Systems Software
Current Symbol
NASDAQ:FTNT
CUSIP
34959E10
Employees
13,568
Year Founded
2000

Price Target and Rating

Average Stock Price Target
$72.35
High Stock Price Target
$90.00
Low Stock Price Target
$51.00
Potential Upside/Downside
+6.1%
Consensus Rating
Hold
Rating Score (0-4)
2.27
Research Coverage
33 Analysts

Profitability

Net Income
$1.15 billion
Pretax Margin
25.14%

Debt

Sales & Book Value

Annual Sales
$5.30 billion
Cash Flow
$1.97 per share
Book Value
($0.60) per share

Miscellaneous

Free Float
629,195,000
Market Cap
$52.05 billion
Optionable
Optionable
Beta
1.08

Social Links

Beginner's Guide to Pot Stock Investing Cover

Click the link below and we'll send you MarketBeat's guide to pot stock investing and which pot companies show the most promise.

Get This Free Report

Should I Buy Fortinet Stock? FTNT Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Fortinet, Inc.:

  • Fortinet offers a comprehensive range of cybersecurity and networking solutions, including the latest products like FortiGate data centers and FortiGuard security services, catering to a diverse group of customers across various industries.
  • Recent positive analyst ratings and price target upgrades indicate growing confidence in Fortinet's performance and potential for future growth, with a consensus view of a "moderate buy" rating.
  • Fortinet's focus on capital preservation and flexibility in payment terms, as highlighted by the company's CFO, aligns with current market trends and investor preferences, potentially leading to sustained financial stability.
  • With a market capitalization of $58.61 billion and inclusion in the S&P 500, Fortinet represents a significant player in the cybersecurity industry, offering investors exposure to a well-established and recognized company.
  • Despite some volatility indicated by a beta of 1.36, Fortinet's stock performance has shown resilience, trading above its 50-day moving average, presenting potential opportunities for investors to capitalize on market corrections or pullbacks.

Cons

Investors should be bearish about investing in Fortinet, Inc. for these reasons:

  • Fortinet's stock valuation, trading 8.6% above its 50-day moving average, suggests a potential for correction or pullback, indicating a level of risk associated with the current market price.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, April 10, 2024. Please send any questions or comments about these Fortinet pros and cons to contact@marketbeat.com.

FTNT Stock Analysis - Frequently Asked Questions

Should I buy or sell Fortinet stock right now?

33 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Fortinet in the last year. There are currently 2 sell ratings, 20 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" FTNT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FTNT, but not buy additional shares or sell existing shares.
View FTNT analyst ratings
or view top-rated stocks.

What is Fortinet's stock price target for 2024?

33 analysts have issued 12-month target prices for Fortinet's stock. Their FTNT share price targets range from $51.00 to $90.00. On average, they anticipate the company's share price to reach $72.35 in the next twelve months. This suggests a possible upside of 9.0% from the stock's current price.
View analysts price targets for FTNT
or view top-rated stocks among Wall Street analysts.

How have FTNT shares performed in 2024?

Fortinet's stock was trading at $58.53 at the beginning of the year. Since then, FTNT shares have increased by 13.4% and is now trading at $66.38.
View the best growth stocks for 2024 here
.

When is Fortinet's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 2nd 2024.
View our FTNT earnings forecast
.

How can I listen to Fortinet's earnings call?

Fortinet will be holding an earnings conference call on Thursday, May 2nd at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link.

How were Fortinet's earnings last quarter?

Fortinet, Inc. (NASDAQ:FTNT) posted its quarterly earnings results on Monday, February, 5th. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.08. The software maker had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. Fortinet had a net margin of 21.64% and a negative trailing twelve-month return on equity of 7,572.46%. The company's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 EPS.
Read the conference call transcript
.

When did Fortinet's stock split?

Fortinet shares split on the morning of Thursday, June 23rd 2022. The 5-1 split was announced on Thursday, June 9th 2022. The newly created shares were payable to shareholders after the closing bell on Wednesday, June 22nd 2022. An investor that had 100 shares of stock prior to the split would have 500 shares after the split.

What guidance has Fortinet issued on next quarter's earnings?

Fortinet issued an update on its first quarter 2024 earnings guidance on Tuesday, February, 6th. The company provided EPS guidance of 0.370-0.390 for the period, compared to the consensus EPS estimate of 0.370. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion.

What is Ken Xie's approval rating as Fortinet's CEO?

640 employees have rated Fortinet Chief Executive Officer Ken Xie on Glassdoor.com. Ken Xie has an approval rating of 95% among the company's employees. This puts Ken Xie in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Fortinet own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Fortinet investors own include NVIDIA (NVDA), Alibaba Group (BABA), PayPal (PYPL), Salesforce (CRM), Walt Disney (DIS), Mastercard (MA), Netflix (NFLX), Block (SQ), Intel (INTC) and Adobe (ADBE).

Who are Fortinet's major shareholders?

Fortinet's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Woodstock Corp (0.04%), Congress Asset Management Co. MA (0.03%), Daymark Wealth Partners LLC (0.03%), Los Angeles Capital Management LLC (0.02%), CHURCHILL MANAGEMENT Corp (0.02%) and Czech National Bank (0.01%). Insiders that own company stock include John Whittle, Keith Jensen, Kelly Ducourty, Ken Xie, Michael Xie, Patrice Perche and William H Neukom.
View institutional ownership trends
.

How do I buy shares of Fortinet?

Shares of FTNT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Fortinet have any subsidiaries?
The following companies are subsidiares of Fortinet: 3Crowd Technologies, AJ Holdings 1 K.K., AJ Holdings 2 K.K., ALAXALA Networks Corporation, AccelOps, Accelops China, Bradford Networks, Coyote Point Systems, CyberSponse, CyberSponse Inc., CyberSponse India Private Limited, Fortinet Austria GmbH, Fortinet BV, Fortinet Belgium BV, Fortinet Branch Holding Company, Fortinet Colombia S.A.S, Fortinet Denmark ApS, Fortinet Federal Inc., Fortinet Finland Oy, Fortinet GmbH, Fortinet Holding LLC, Fortinet Information Technology (Beijing) Co. Ltd., Fortinet International Inc., Fortinet Japan G.K., Fortinet Malaysia SDN. BHD., Fortinet Mexico S. de R.L. de C.V., Fortinet Network Security Brazil Limitada, Fortinet Networks Mauritius Ltd, Fortinet Networks Romania S.R.L., Fortinet Portugal Unipessoal Lda, Fortinet S.A.R.L., Fortinet Security Israel Ltd., Fortinet Security Italy S.R.L., Fortinet Security Korea Ltd., Fortinet Security LLC, Fortinet Security NZ Limited, Fortinet Security Network (Thailand) Ltd., Fortinet Security Philippines Inc., Fortinet Security Spain S.L., Fortinet Singapore Private Limited, Fortinet Switzerland GmbH, Fortinet Technologies (Canada) ULC, Fortinet Technologies India Private Limited, Fortinet Turkey Güvenlik Sistemleri Limited Şirketi, Fortinet UK Ltd., Holdings 1502 Enterprises Ltd., Holdings 1504 Enterprises Inc., IPLocks, IntruGuard, Linksys Cayman LLC, Linksys HK Limited, Linksys Holdings Inc., Linksys PTE LTD, Linksys Trading Shanghai Co. Ltd, Linksys UK Limited, Meru Networks, OPAQ Networks, OPAQ Networks Inc., PT Fortinet Indonesia Security, Panopta, Panopta Holdings LLC, Panopta LLC, Secure Element, ShieldX Networks, Sken.ai, TalkSwitch, Volon Cyber Security Private Limited, Woven Systems, ZoneFox, enSilo, enSilo Inc., and enSilo Ltd..
Read More
This page (NASDAQ:FTNT) was last updated on 4/12/2024 by MarketBeat.com Staff

From Our Partners