Fortinet (FTNT)
Information Technology · Cybersecurity and Network Security · NASDAQ
Fortinet delivers high-performance, AI-powered cybersecurity through a converged platform that uniquely integrates networking and security across physical, cloud, and edge environments.
What Fortinet does
Fortinet is a global cybersecurity company that drives the convergence of networking and security through its integrated platform, the Fortinet Security Fabric. The company provides a wide range of solutions across secure networking, unified Secure Access Service Edge (SASE), and AI-driven security operations. Its offerings span hardware appliances, virtual machines, cloud-native services, and SaaS to protect enterprises, service providers, and government organizations.
Themes: cybersecurity, AI-driven security operations (SecOps), secure networking, Zero Trust architecture, operational technology (OT) security, SASE (Secure Access Service Edge), cloud security, hybrid cloud infrastructure
Fundamentals
- Price$189.10 as of 2026-10-08 close
- Market cap$138.7B as of 2026-07-28 (share count; price 2026-10-08)
- 1-year return+118.7% 2025-10-08 close $86.46 → 2026-10-08 close $189.10
- P/E66.62 as of 2026-10-08
- Net margin+27.3% FY2025, SEC XBRL
- Gross margin+80.5% FY2025, SEC XBRL
- ROE+149.8% FY2025, SEC XBRL
- Debt / equity0.32 as of 2026-09-03
- Revenue growth (YoY)+18.8% as of 2026-09-03
- Revenue CAGR (3y)+15.5% SEC XBRL
- Beta1.14 as of 2026-09-03
- Last reported earnings2026-07-29 SEC EDGAR Form 8-K (Item 2.02)
How FTNT compares in its sector
- price-to-earnings ratiomiddle range 253 covered Information Technology peers, as of 2026-10-08
- net profit margintop 10% 380 covered Information Technology peers, as of 2026-09-03
- operating margintop 10% 375 covered Information Technology peers, as of 2026-09-03
- gross margintop 10% 311 covered Information Technology peers, as of 2026-09-03
- return on equitytop 10% 370 covered Information Technology peers, as of 2026-09-03
- 3-year revenue CAGRmiddle range 385 covered Information Technology peers
- free cash flow (absolute dollars, latest fiscal year)top 10% 382 covered Information Technology peers, as of FY2025
Position among covered Information Technology companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Top 10 scores & list membership
FTNT is not currently in any published Top 10 list. Its scores are below.
Top 10 score
Not scored for the top 10 list: it is in the most expensive tenth of the field on valuation, so it is ranked as a growth story rather than on fundamentals.
Scores as of 8 Oct 2026. Each bar is a percentile: how this company ranked against every company the score ranked, 0–100. A list is a published formula and its output, not a recommendation. Method version 4.
How Fortinet looks technically
Fortinet (FTNT) is trading 57.8% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 104 trading days ago — a "golden cross", a bullish long-term signal. A strong uptrend is in place — ADX, a 0–100 trend-strength gauge, is 32, with buyers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 69, neither overbought (above 70) nor oversold (below 30). It made a new 20-day high about 3 trading days ago. It is 1.7% below its all-time high.
Trend
8
| Distance from the 200-day | it is trading 57.8% above its 200-day average, the long-term trend line — a longer-term uptrend | +57.9% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $166.56 | $166.56 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $119.80 | $119.80 |
| Swing structure | each recent peak has been higher than the one before it and each dip has been shallower — the pattern chart-watchers call an uptrend, which describes where price has already been and not where it goes next | higher highs and higher lows |
| Last swing turn | its last significant turn was a swing high 14 calendar days ago — the swings before that are what the structure reading is measured on | 14 sessions |
| Wave structure | its recent swings can be read as a five-part upward sequence — what Elliott-wave chartists call an impulse — now in the fourth leg, a pullback against that upward direction; the labelling fails if price closes below 172.09. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible upward five-wave sequence, in wave 4 (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 104 trading days ago — a "golden cross", a bullish long-term signal | 104 sessions |
| Trend strength (14-day ADX) | a strong uptrend is in place — ADX, a 0–100 trend-strength gauge, is 32, with buyers in control | 32.3 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 69, neither overbought (above 70) nor oversold (below 30) | 68.6 |
|---|---|---|
| Position in its 14-day range | it is trading near the top of its 14-day range ($167.41 to $192.41) — its "stochastic" reading is 87 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been slipping within that range over the last few sessions. | 86.8 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in positive territory (momentum leaning bullish) | 19 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $192.41 | $192.41 |
|---|---|---|
| From the 52-week high | it is 1.7% below its 52-week high (its highest price of the past year) | -1.7% |
| Above the 52-week low | it is 157.1% above its 52-week low (its lowest price of the past year) | +157.1% |
| Below the 52-week high | it is 1.7% below its highest point of the past year | 1.7% |
| Since a 20-day breakout | it made a new 20-day high about 3 trading days ago | 3 sessions |
| Since a 55-day breakout | it made a new 55-day high about 3 trading days ago | 3 sessions |
| All-time high | its highest closing price on record is $192.41 (set on 2026-10-06) | $192.41 |
| Given back of the 52-week move | over the past year its closes ranged ($75.23 to $191.27), and it has given back essentially none of its rise from last year’s low — 2% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $115.84 to $119.56. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 1.9% |
| From the all-time high | it is 1.7% below its all-time high | -1.7% |
| Nearest price level | it is trading 9.5% above a support level at $171.22 — a price it turned at twice since 2026-07-15, most recently on 2026-08-05. Since 2024-10-08 it has 14 such levels below the current price and 0 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -9.5% |
| All-time low | its lowest closing price on record is $1.47 (set on 2010-07-13) | $1.47 |
| Above the all-time low | it is 12746.5% above its all-time low | +12,746% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 58th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $6.03 between its high and its low — about 3.2% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $6.03 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $161.34 and $192.43 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $161.34 – $176.88 – $192.43 |
| Typical daily range (% of price) | its price moves about 3.2% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 3.2% |
| Stretch from the 200-day average | it is trading 11.5 daily ranges above its 200-day average price (57.9% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 11.5 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.70× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
2
| Since a doji | 5 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 5 sessions ago |
|---|---|---|
| Since a bullish engulfing | 3 sessions ago it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | 3 sessions ago |
Price gaps
3
| Gap at the open | it opened on 2026-10-08 0.1% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +0.1% |
|---|---|---|
| Open gap | it gapped 4.0% above the previous close 18 sessions ago and has not traded back through the level it left behind at 156.07 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +4.0% |
| Gap filled | a 2.4% gap down opened on 2026-08-26 has been "filled" 30 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 30 sessions ago |
Price streaks
1
| Closing streak | it has closed lower 2 sessions in a row, a -1.13% move over the run — an unbroken run of down days, which describes what has already happened and says nothing about the next session | 2 sessions down |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock beat the market by 19.0 percentage points (the stock gained 20.1% while the market gained 1.0%) | +19.1% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 16.8 percentage points (the stock gained 20.7% while the market gained 3.8%) | +16.8% |
| vs market, 6 months | over the past 6 months this stock beat the market by 112.3 percentage points (the stock gained 129.8% while the market gained 17.5%) | +112.3% |
| vs market, 12 months | over the past 12 months this stock beat the market by 103.7 percentage points (the stock gained 118.7% while the market gained 15.0%) | +103.7% |
Signal agreement
2
| Bullish technical signals | 7 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, trading above its 200-day average, a fresh 20-day high, MACD momentum is positive, a strong uptrend, with buyers in control, outperforming the market over 6 months, trading above the Ichimoku cloud — these describe past price behaviour, not a forecast | 7 of 9 |
|---|---|---|
| Bearish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bearish state: near the top of its 14-day range (overbought) — these describe past price behaviour, not a forecast | 1 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 18% above the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-01 and projected forward over today's price, the side traders read as an established uptrend, with the band below acting as the level that would have to give way. The band itself is thin, spanning 1.6% of the share price, which is taken to mean a barrier that gives way easily. | +18.2% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 62% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $116.81 — a volume-weighted average of daily closes over 190 sessions, not a true tick-by-tick VWAP. | +61.9% |
|---|---|---|
| Vs the average paid since it last reported | the price is 14% above the average price paid since it last reported on 2026-07-29 (its 8-K), so the typical buyer over that stretch is showing a gain. That average is $165.37 — a volume-weighted average of daily closes over 51 sessions, not a true tick-by-tick VWAP. | +14.3% |
Channel up, bullish — broke out · entry $175.74 · 61 sessions in
Price levels it has turned at before
FTNT last closed at $189.10 on 2026-10-08. Since 2024-10-08 it has turned at 14 prices below its last close and 0 above; the 3 nearest below are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $171.22 | Support | 9.5% below the last close | turned there twice · 2026-07-15 to 2026-08-05 |
| $149.17 | Support | 21.1% below the last close | turned there twice · 2026-06-04 to 2026-08-21 |
| $108.54 | Support | 42.6% below the last close | turned there three times · 2025-05-05 to 2025-07-21 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a five-part upward sequence — what Elliott-wave chartists call an impulse — now in leg 4 of five, a pullback against that direction.
This labelling fails — stops being a possible reading at all — if it closes below $172.09.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
On past moves of this shape the leg has usually ended somewhere between $172.09 and $173.56 — that is where it has tended to end if the count holds, not a forecast of where the price goes.
This reading has stood for 9 trading days, since 2026-09-28.
Read from daily closes as of 2026-10-08.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · Near the 52-week high · Broke out to a new 20-day high · in a strong, established uptrend (ADX) · Near the all-time high · beating the market | Learn: moving average · golden cross · adx · rsi · breakout · all time high
Based on daily closing prices as of 2026-10-08. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingHold (2.80 mean, 1=Strong Buy…5=Strong Sell) — 36 analysts
- Mean price target$164.32 range $104.00 – $220.00; median $165.00
Analyst estimates, as of 2026-10-09. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for FTNT
- Consensus EPS estimate$0.8572 next reporting period, as of 2026-10-09
- Estimate change, 30 days-$0.00015 (-0.0%) from $0.8574, on 2026-09-04, 35-day window
- Readings revised upward0% of 8 comparable readings
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Intense competition in the cybersecurity market and the potential for rapid technological obsolescence.","Supply chain constraints and dependence on specific component availability, such as memory chips.","Complexity and unpredictability of sales cycles, particularly when dealing with larger enterprise customers."]
What changed in the latest 10-Q
AI-assisted comparison of FTNT's 10-Q filed 2026-07-30 against the prior one filed 2026-05-08.
Management's Discussion & Analysis (MD&A)
- Added:
- Newer filing (2026-07-30) describes FortiOS as including 'quantum safe tools' in addition to advanced encryption.
- Newer filing (2026-07-30) states patent counts as of June 30, 2026: 1,115 U.S. patents and 1,448 global patents.
- Newer filing (2026-07-30) changes the bullet point wording to 'macroeconomic, geopolitical factors and other disruptions to our manufacturing or sales' instead of 'other disruption on our manufacturing or sales'.
- Removed:
- Older filing (2026-05-08) described FortiOS as including only 'advanced encryption' without mention of quantum safe tools.
- Older filing (2026-05-08) states patent counts as of March 31, 2026: 1,093 U.S. patents and 1,430 global patents.
- Reworded:
- Forward-looking statement bullet changed from 'macroecononomic, geopolitical factors and other disruption on our manufacturing or sales' (filed 2026-05-08) to 'macroeconomic, geopolitical factors and other disruptions to our manufacturing or sales' (filed 2026-07-30).
- Business Overview end-customer date changed from 'As of March 31, 2026' (filed 2026-05-08) to 'As of June 30, 2026' (filed 2026-07-30).
- Patent count date changed from 'As of March 31, 2026' (filed 2026-05-08) to 'As of June 30, 2026' (filed 2026-07-30).
- FortiOS description changed from 'FortiOS includes advanced encryption and other security technologies' (filed 2026-05-08) to 'FortiOS includes advanced encryption, quantum safe tools, and other security technologies' (filed 2026-07-30).
- Notes:
- Newer filing text is truncated mid-sentence in the FortiCloud paragraph ('FortiCloud is our priva'), so comparison for that section beyond this point is not possible.
- Older filing text is truncated mid-sentence in the FortiCloud paragraph ('FortiCloud is our private cloud softwar'), so comparison for that section beyond this point is not possible.
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 15 open-market sales by insiders in the last 90 days, of which we have read Form 4 filings through 2026-10-04. The 5 days since 2026-10-04 have not been checked yet.
- Last 30 days · read to 2026-10-040 buys · 4 sells ($9M) — 2 selling insiders
- Last 90 days · read to 2026-10-040 buys · 15 sells ($36M) — 4 selling insiders
- Last 180 days · read to 2026-10-040 buys · 44 sells ($80M) — 4 selling insiders
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-09-24. Based on Form 4 filings read through 2026-10-04; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about FTNT's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
U.S. House trading disclosures
U.S. House members publicly disclose their own, their spouse's, and dependent children's stock transactions under the STOCK Act. We hold 16 matched disclosures for FTNT from U.S. House Clerk Periodic Transaction Report filings.
U.S. House trading disclosures →Institutional ownership (13F)
5 institutional 13F filers reported holding FTNT as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 103,852,445
- Reported value $15,953,812,809
reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 3 increased, 2 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about FTNT's institutional holders → See what each manager we track holds →
Short interest (FINRA)
FTNT had 13,718,909 shares of reported short interest as of the 2026-09-15 FINRA settlement date (delayed, bi-monthly; not real-time).
FTNT had 1.87% of its shares outstanding sold short as of the 2026-09-15 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 3.53 days to cover at the same settlement.
- Reported short interest (shares) 13,718,909
- Short interest (% of shares outstanding) 1.87%
- Prior settlement (shares) 13,556,993
- Reported change 1.19%
- Days to cover (reported) 3.53
Reported to FINRA as of the 2026-09-15 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Palo Alto Networks (PANW)
- Cisco Systems (CSCO)
- Check Point Software Technologies (CHKP)
- CrowdStrike (CRWD)
- Zscaler (ZS)
- Juniper Networks (JNPR)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does Fortinet (FTNT) do?
Fortinet is a global cybersecurity company that drives the convergence of networking and security through its integrated platform, the Fortinet Security Fabric. The company provides a wide range of solutions across secure networking, unified Secure Access Service Edge (SASE), and AI-driven security operations. Its offerings span hardware appliances, virtual machines, cloud-native services, and SaaS to protect enterprises, service providers, and government organizations.
What sector is Fortinet (FTNT) in?
Fortinet (FTNT) is classified in the Information Technology sector. Its industry is Cybersecurity and Network Security. It trades on NASDAQ.
Who are Fortinet's (FTNT) competitors?
Notable peers of Fortinet (FTNT) include Palo Alto Networks, Cisco Systems, Check Point Software Technologies, CrowdStrike and Zscaler. This peer set is informational only — not financial advice.
Has there been recent U.S. House stock trading in FTNT?
Yes — we hold 16 matched STOCK Act disclosures for FTNT from U.S. House Clerk Periodic Transaction Report filings. These are legally-required disclosures (often filed 30–45 days after the trade), may belong to a U.S. House member, their spouse, or a dependent child, and are not an indicator of company performance or investment advice.
Is Fortinet (FTNT) overbought or oversold right now?
Fortinet (FTNT) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 69, in the neutral middle (as of 2026-10-08). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on FTNT come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest; prices are market data, as of 2026-09-03; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-08.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.