Fortinet, Inc. (FTNT) fair value analysis
S&P 500 & Nasdaq · Updated 2026-10-19
FTNT price how computed
Forward Fair Value verdict
OvervaluedFTNT is trading at more than a 25% premium to estimated fair value.
Based on TickrTrends' weekly Forward Fair Value model.
- Last price
- $194.75
- Sector
- Technology
- 12-month range
- $75.23–$194.75
- Market cap
- $143B
- From 52-week high
- 0.0%
- Shares outstanding
- 734M
- Rank in Technology by discount to fair value
- #134 of 181
Last price is our 2026-10-19 weekly price; the chart runs through 2026-10-16.
Fortinet, Inc. develops and provides cybersecurity solutions including firewalls, intrusion prevention systems, and secure access software designed to protect networks and data. The company serves customers across North America, Europe, the Asia-Pacific region, and other markets worldwide.
FTNT currently ranks #134 of 181 Technology stocks by discount to fair value. It has screened as Overvalued for 6 consecutive weekly runs.
Fundamentals (4 quarters) how computed
- Market cap
- $143B
- P/E (trailing)
- 63x
- Revenue (TTM)
- $7.53B
- Net margin
- 28.2%
- EPS (TTM)
- $3.09
- Gross margin
- 80.2%
- Debt / equity
- 0.32
- Revenue growth (3-yr avg)
- 17.8%
- Shares outstanding
- 734M
Derived indicators how computed
- Quality grade
- A
- Margin trend
- Contracting
- 52-week position
- The top quarter of its range
Technicals how computed
- RSI (14-day)
- 40 · neutral
- 50-day average
- $169.39
- 200-day average
- $123.87
- Moving-average state
- 50-day above 200-day (golden cross state); price above both averages
Earnings how computed
- Next earnings report
- 2026-10-28 (post-market)
- Last 8 quarters vs consensus
- 8 beat, 0 missed
- Quarter by quarter
- 2026-06 ▲ beat (+22.7%)
2026-03 ▲ beat (+32.3%)
2025-12 ▲ beat (+9.5%)
2025-09 ▲ beat (+18.2%)
2025-06 ▲ beat (+8.5%)
2025-03 ▲ beat (+9.4%)
2024-12 ▲ beat (+21.3%)
2024-09 ▲ beat (+21.2%)
Analyst consensus how computed
This is not TickrTrends' verdict.
- Analyst ratings
- 9 buy · 31 hold · 4 sell (44 analysts)
- Consensus lean
- Hold-leaning
- Consensus price target
- $164
- Target vs last price
- -15.8%
What our data shows for FTNT
- Our model validated 17 trailing price-to-earnings windows for FTNT, built from quarterly earnings records.
- Shares are trading in the upper third of their 12-month price range of $75.23–$194.75.
- The 14-day relative strength index sits at a neutral 40.
The exact numbers are one step away
- The precise Forward Fair Value dollar figure for FTNT
- Exact discount / premium to today's price
- The normalized historical P/E behind the estimate, and how many quarters support it
- Forward EPS input and fiscal-year basis
- Screeners and rankings across the full S&P 500 and Nasdaq universes
Forward Fair Value applies a conservatively normalized historical price-to-earnings multiple to the consensus earnings estimate for the next full fiscal year; how TickrTrends computes it.
Recent FTNT news
TickrTrends' derived news-sentiment signal for FTNT is currently leaning positive, computed from recent coverage.
- Fortinet Inc (FTNT) -- Cybersecurity Leader | Shelton Equity Income Strategy Q3 2026 (gurufocus.com, 2026-10-21)
TickrTrends take: Fortinet is recognized as a cybersecurity leader within the Technology sector, though TickrTrends currently rates the stock as overvalued based on its derived valuation analysis. For investors focused on valuation metrics, the company's positioning in the high-demand cybersecurity market should be weighed against current pricing to determine whether a margin of safety exists at present levels. Monitoring how Fortinet's growth trajectory and profitability metrics compare to sector peers will be important for assessing whether the overvaluation verdict may shift as market conditions or company fundamentals evolve. - Fortinet Inc (FTNT) Shares Fall 7.0% -- What GF Score of 81 Tells Investors (gurufocus.com, 2026-10-16)
TickrTrends take: Fortinet shares experienced a notable decline, and given TickrTrends' assessment that the stock is currently overvalued, this price movement may reflect market repricing toward a more balanced valuation level. The company's GF Score of 81 indicates strong operational and financial quality metrics, which suggests the overvaluation designation stems from price relative to fundamentals rather than weakness in the business itself. For valuation-focused investors, the combination of quality operations with an overvalued status means monitoring whether further price adjustments occur before considering entry points aligned with intrinsic value estimates. - FTNT Maintained by Mizuho -- Price Target Raised to $160 (gurufocus.com, 2026-10-15)
TickrTrends take: Mizuho's price target increase to $160 occurs within a context where TickrTrends currently assesses Fortinet as overvalued relative to fundamentals in the Technology sector. A valuation-focused reader should monitor whether this analyst target represents a convergence toward fair value or reflects divergent views on the company's growth prospects and market positioning. The gap between analyst price targets and derived valuation assessments often signals areas where market expectations may need reconciliation with underlying financial metrics.
More FTNT news
- Fortinet Inc (FTNT) Shares Fall 3.5% -- GF Value Says Still Overvalued (gurufocus.com, 2026-10-14)
- FTNT Maintains Rating with RBC Capital -- Price Target Raised to $205 (gurufocus.com, 2026-10-12)
- Fortinet, Inc. (FTNT) Hits Fresh High: Is There Still Room to Run? (zacks.com, 2026-10-12)
- Palo Alto vs. Fortinet: Is the Broader Security Platform Worth an 81x Cash-Flow Price? (insidermonkey.com, 2026-10-09)
What people are saying
Follow the FTNT conversation: Stocktwits · Reddit · X
TickrTrends weekly updates
- 2026-10-19 — FTNT's technical indicators shifted this week as the relative strength index moved from overbought territory into neutral range. The stock's position within its sector also weakened, with its discount rank declining from 165th to 171st place among Technology companies, suggesting it has become less attractively valued relative to peers. The current valuation assessment remains that FTNT is overvalued.
- 2026-10-12 — No material change this week: the verdict, bands and grades all held steady.
- 2026-10-11 — No material change this week: the verdict, bands and grades all held steady.
- 2026-10-10 — TickrTrends' derived indicators for FTNT show a shift in momentum this week, with the RSI zone moving from neutral territory into overbought conditions. The stock currently carries an overvalued designation based on TickrTrends' valuation analysis. This combination of overbought momentum and elevated valuation levels may warrant attention from investors monitoring the Technology sector.
- 2026-10-06 — No material change this week: the verdict, bands and grades all held steady.
- 2026-09-28 — FTNT has experienced notable shifts in its technical positioning this week. The stock's 50/200-day trend state improved from mixed to uptrend, while its sector discount ranking declined from 145th to 154th position within the Technology sector, indicating relatively weaker valuation positioning compared to peers. The valuation verdict has shifted from Fairly valued to Overvalued.
- 2026-09-21 — No material change this week: the verdict, bands and grades all held steady.
- 2026-09-17 — No material change this week: the verdict, bands and grades all held steady.
Frequently asked questions
Is FTNT stock undervalued?
Based on TickrTrends' Forward Fair Value model (updated 2026-10-19), FTNT is trading at more than a 25% premium to estimated fair value and screens as overvalued. The exact fair value and discount are available to subscribers.
What is FTNT's TickrTrends verdict?
FTNT's current verdict is Overvalued, refreshed with every weekly Forward Fair Value run.
How does FTNT compare to other Technology stocks?
FTNT ranks #134 of 181 Technology stocks in TickrTrends' coverage by discount to fair value.
Is FTNT overbought or oversold?
FTNT's 14-day RSI is in neutral territory - neither overbought nor oversold.
When does FTNT report earnings next?
FTNT's next earnings report is scheduled for 2026-10-28 (post-market), per the published earnings calendar.
Does FTNT usually beat earnings estimates?
Over its last 8 reported quarters FTNT beat the consensus estimate 8 times and missed 0 times, by TickrTrends' comparison of reported and estimated EPS.
What do analysts say about FTNT?
Of 44 analysts covering FTNT, 9 rate it a buy, 31 a hold and 4 a sell - hold-leaning, with a consensus price target of $164 (-15.8% versus TickrTrends' last price). This is the analyst consensus, not TickrTrends' Forward Fair Value verdict.
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