Fortinet Inc FTNT

What the company does

Fortinet Inc is a large-cap company in the Technology sector (Software - Infrastructure), with a market value of $132.1B, based in the USA.

It employs about 15,472 people and has been listed since Nov 18, 2009.

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.

Cheap or expensive? relatively cheap

Its price-to-earnings (P/E) is 63.6 versus 2622.1 for 4 direct peers — relatively cheap.

Revenue is growing 26% versus the same quarter last year.

On analysts' next-year forecasts the multiple drops to 45.0 — they expect higher earnings.

The average analyst price target is 169.31, 6% below the current price (their view, not ours).

The stock sits at 86% of its one-year range (0% = the low, 100% = the high).

The risks

• • Quarterly report in 3 days (2026-10-28) — a day the stock can move a lot.

Strengths

• ✅ Profitable — 30 of every 100 dollars of revenue stays as profit.
• ✅ Generates free cash flow — profit becomes cash in the bank.
• ✅ Buys back its shares (4% fewer shares in a year).
• ✅ More cash than debt.
• ✅ Revenue is growing 26% a year.

What changed this week

Over the past week the stock rose 6.4% (for comparison: S&P 500 -0.4%, sector ETF XLK -0.1%).

This week's news

• Our Pick Of The Best Cybersecurity Stocks In October 2026 finance.yahoo.com · 2026-10-23
  What the article says

  Cyber attacks linked to artificial intelligence are now a direct focus for regulators, with the SEC flagging AI related breaches as a priority risk. When watchdogs pay this much attention to digital threats, security moves from a background concern to a clear business necessity. That creates a potential opening for… source ↗

• TTMI Q3 Earnings & Revenues Surpass Estimates, Both Surge Y/Y finance.yahoo.com · 2026-10-23
  What the article says

  TTM Technologies, Inc. TTMI reported third-quarter 2026 non-GAAP earnings of $1.46 per share, up 117.9% year over year. The figure beat the Zacks Consensus Estimate by 16.8%. Revenues jumped 59.9% to $1.2 billion, surpassing the Zacks Consensus Estimate by 6.6%. Strong AI-related demand, defense spending and… source ↗

• Evercore Highlights 2 Cybersecurity Stocks as Demand Strengthens Into Year-End finance.yahoo.com · 2026-10-23
  What the article says

  Investing.com -- Cybersecurity stocks are showing improved demand trends as the year draws to a close, according to an Evercore quarterly survey of 20 cyber channel partners. The survey reveals a strengthening budget outlook, healthy pipeline activity, and a broadly stable macroeconomic backdrop supporting the sector.… source ↗

• Exploring Analyst Estimates for Fortinet (FTNT) Q3 Earnings, Beyond Revenue and EPS finance.yahoo.com · 2026-10-23
  What the article says

  The upcoming report from Fortinet (FTNT) is expected to reveal quarterly earnings of $0.86 per share, indicating an increase of 16.2% compared to the year-ago period. Analysts forecast revenues of $2.06 billion, representing an increase of 19.5% year over year. Over the past 30 days, the consensus EPS estimate for the… source ↗

• Stock market today: Dow sinks 600 points, S&P 500, Nasdaq drop to cap a volatile week, oil prices rise finance.yahoo.com · 2026-10-23
  What the article says

  US stocks declined on Friday as selling pressure broadened beyond the AI trade, while oil prices rose. The 10-year Treasury (^TNX) yield gained, though it held below the 5% threshold. The Dow Jones Industrial Average (^DJI) fell 1.2%, while the S&P 500 (^GSPC) dropped 0.5%. Meanwhile, the Nasdaq Composite (^IXIC) fell… source ↗

• Fortinet (FTNT) vs. CSCO and PANW: Can Its Hardware-Software Advantage Support Long-Term Growth? finance.yahoo.com · 2026-10-22
  What the article says

  Is FTNT a good stock to buy? We came across a bullish thesis on Fortinet, Inc. on Astute Optics - US's Substack. In this article, we will summarize the bulls' thesis on FTNT. Fortinet, Inc.'s share was trading at $170.93as of October 20th 2026. FTNT's trailing and forward P/E were 61.58 and 45.05 respectively… source ↗

What changed since last week

• The price rose 6.4% since the last summary.