Insider buying last 90 days
No open-market insider purchases were filed for FTNT in the last 90 days.
From Form 4 filings, dated to when each was filed.
Every FTNT insider filing, plotted on the chart in Gekko.Open FTNT in Gekko
NASDAQ: FTNT
Fortinet (FTNT) Stock Analysis & Forecast
$169.84−2.74 (−1.6%)
Close on Sep 18, 2026. Page updated Sep 19, 9:18 pm ET.
Gekko Brief
AI summaryFortinet trades at $169.84, down 1.6% on the day but well above both its 50-day ($160.16) and 200-day ($113.88) moving averages, with the shorter average sitting above the longer one. The GekkoIndex reads 52.9, placing the stock in the Neutral zone, down from a higher level five days ago. Price sits 29.1% above Gekko Fair Value of $131.51, a gap the checklist flags as a headwind.
This week's move has centered on cybersecurity sector strength and analyst attention, with Fortinet stock rising almost 9% over five trading days alongside broader gains in the group. Bernstein SocGen's Peter Weed raised his price target on the stock from $102 to $145 while maintaining a hold rating, and commentary has pointed to resilient enterprise security spending even as budgets tighten elsewhere. Separately, a DCF-based analysis suggested the stock could be roughly 22% overvalued, coinciding with news of a new Innovation Hub opening in New York. Peer PANW's SASE bookings growth was also cited as a competitive dynamic touching Fortinet and ZS.
The next earnings date falls on 4 November 2026, 45 days away and outside a typical 20-trading-day holding window; the prior report on 29 July showed EPS of $0.81 against a $0.66 estimate with an 8-of-8 beat streak. Over the last 90 days, Congress recorded 1 buy and 0 sells. Seasonally, the next 20 trading days have averaged a 3.1% return over 5 years, rising in 2 of those years, a mixed signal worth noting alongside the current fair-value gap.
Written by AI and checked automatically against the figures on this page. Generated Sep 20, 2026 from the data above.
Price vs fair value
Close $169.84200-day averageGekko Fair Value $131.51
Key stats
- Market cap
- $124.6B
- P/E ratio
- 60.6
- Forward P/E
- 44.3
- EPS, TTM
- $2.85
- Revenue, TTM
- $7.53B
- Profit margin
- 28.2%
- Dividend yield
- —
- Beta
- 1.06
- Volume
- 12.27M avg 4.51M
- 1-year return
- +111.5%
- Typical daily move
- ±4.2%
- Typical 20-day move
- ±5.8%
- 50-day average
- $160.16
- 200-day average
- $113.88
- Next earnings
- Nov 4 after close
- Shares outstanding
- 733.7M
Fortinet swing-trade checklist
Fortinet scores 3 supportive, 2 mixed and 1 headwind across the 6 checklist items with data.
Six things swing traders check before a 20-day hold, read from the latest data.
3 supportive2 mixed1 headwind
- Trendsupportive
Above 50 and 200-day
Close $169.84 is above the 50-day ($160.16) and 200-day ($113.88) averages, and the 50-day is above the 200-day.
See the chart - GekkoIndexmixed
52.9, Neutral
Reading 52.9 is in the Neutral zone.
See the GekkoIndex - Fair valueheadwind
29.1% above
Price is 29.1% above Gekko Fair Value (more than 5% above).
See fair value - Smart moneysupportive
Leans bullish
Last 90 days: Congress 1 buy / 0 sales.
See smart money - Earnings risksupportive
Reports in 45 days
Next report Nov 4, 2026, 45 days away — outside a typical 20-trading-day hold.
See earnings - Seasonalitymixed
+3.1% on average
From this point in the calendar, the next 20 trading days averaged +3.1% over 5 years, rising in 2 of them.
See seasonality
A description of current data, not a recommendation. How this page works
Fortinet stock chart and price history
Fortinet closed at $169.84 on Sep 18, 2026, +111.5% over the past year, inside a 52-week range of $73.55 to $176.10.
Close50-day average200-day averageVolume
Use the left and right arrow keys to read daily values.
Performance Breakdown
- 1 month
- +11.1%
- 3 months
- +17.3%
- 6 months
- +104.3%
- 1 year
- +111.5%
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About Fortinet
Fortinet designs and sells cybersecurity technology that blends hardware and software to guard networks, devices, and information for clients spread across the Americas, Europe, the Middle East, Africa, and Asia Pacific. Its flagship line, FortiGate, pulls together firewall protection, intrusion detection, malware defense, VPN access, application controls, web filtering, spam blocking, and network acceleration into a single platform. Around this central product sit tools for secure switching, wireless networking, centralized monitoring, email and web application security, sandbox-based threat analysis, endpoint defense, and identity verification through multi-factor authentication.
Revenue comes from a mix of product sales, ongoing security subscriptions, support contracts, consulting work, and training services. Fortinet reaches buyers both through its own sales channels and via outside partners, and its customer base spans telecommunications, government, finance, education, retail, manufacturing, healthcare, and other technology-driven fields. The company also has a business tie with Linksys.
Fortinet operates out of Sunnyvale, California, having started operations in 2000. Its stock trades on the NASDAQ under the ticker FTNT.
- Listed
- NASDAQ
- Sector
- Technology services
- Industry
- Information technology services
- Website
- fortinet.com
Fortinet GekkoIndex: the smart money zone
Fortinet’s GekkoIndex — Gekko’s 0 to 100 smart money score — reads 52.9, in the Neutral zone, down 8.9 points over five sessions.
52.9Neutral
Down 8.9 points over five sessions, from the Accumulation zone.
Reading for Sep 18, 2026
What followed past readings in each zone
| Zone | Readings | 5 days | 20 days | ||
|---|---|---|---|---|---|
| Buying | 26 | +5.1% | +8.5% | ||
| Accumulation | 180 | +1.2% | +4.0% | ||
| Neutral (current zone) | 395 | +0.3% | +2.7% | ||
| Distribution | 55 | +1.9% | +4.2% | ||
| Selling | 6 | Too few readings yet | |||
Average FTNT share-price change over the trading days after each daily reading in its GekkoIndex history. Across every stock Gekko tracks, Neutral readings averaged +1.2% over 20 days. Past behaviour doesn’t guarantee future results.
Neutral zone: No clear directional signal. About the five zones →
See every daily GekkoIndex reading plotted over the FTNT price, zone by zone.Track FTNT in Gekko
Is Fortinet stock overvalued? Gekko Fair Value
Fortinet trades 29.1% above Gekko Fair Value of $131.51, so the shares are overvalued on Gekko’s estimate.
Gekko’s own estimate of what Fortinet shares are worth, recalculated every trading day.
$131.51
Gekko Fair Value, Sep 19, 2026
29.1% Overvalued
Gekko Fair Value on every chart, with the gap to price updating daily.Open FTNT in Gekko
Fortinet insider and Congress trading
No open-market insider purchases were filed for Fortinet, and members of Congress disclosed 1 purchase and 0 sales, in the last 90 days.
Plus buybacks, unusual options and fund positions, each dated to when it became public.
Congress trades last 90 days
1trade disclosed: 1 purchase and 0 sales.
| Member | Amount | Disclosed |
|---|---|---|
| Ro Khanna House, CA, purchase | $1,001 - $15,000 | Aug 12 traded Jul 7 |
From congressional disclosures, which report amounts as ranges.
Buybacks
Fortinet has been buying back its own shares.
- Bought back, quarter ended Jun 30, 2026
- $149.8M
- As a share of market cap
- 0.12%
- Trailing four quarters
- $2.86B
From company filings.
Hedge funds and billionaires quarter ended Jun 30
1of the funds Gekko tracks holds FTNT.
0added0opened1trimmed1sold out
Which funds are on each side, name by name.Unlock in Gekko
Fortinet earnings: next date and track record
Fortinet reports on Nov 4, 2026, after the close (45 days away), and beat the EPS estimate in 8 of its last 8 reports.
Next earnings report
Nov 4, 2026
Expected after the close, 45 days away
- EPS estimate
- $0.86
- Revenue estimate
- $2.06B
8 of 8reports beat the EPS estimate
±9.7%average move across the report
5 of 8reports followed by a gain
Share-price move across each report
Last earnings call, Jul 29, 2026 AI summary
- What they said
- Fortinet reported a strong Q2 2026 driven by broad-based demand across secure networking, Unified SASE and security operations. Key financial highlights included billings up 33%, total revenue up 26%, product revenue up 52%, and free cash flow that more than tripled to nearly $1 billion. Management raised 2026 guidance citing momentum from AI-driven traffic growth, Fortinet's vertically integrated approach (FortiOS and FortiASIC), and the emergence of a "SASE Firewall" opportunity combining on-premise sovereign SASE and cloud SASE. FortiSASE billings more than doubled and adoption within large enterprises increased to ~90%. OT (operational technology) billings grew ~55% and is framed as a durable opportunity due to regulatory drivers and under-penetration. Management emphasized margin strength and operating leverage driven by revenue beats, cost discipline and AI-driven internal efficiencies. They noted price increases with a high-single-digit billings impact assumed for H2 and described a policy of adjusting product pricing to maintain gross margin. Product momentum was described as sustainable rather than a pull-forward. Capital partnerships (notably with Intel) and continued investment in ASIC and global infrastructure were highlighted as competitive advantages.
- Guidance
- Management said they have raised 2026 guidance and provided Q3 and updated full-year commentary (no specific numeric guidance figures included in the transcript). Christiane noted a high single-digit billings impact from price increases assumed for the second half. Management reiterated a policy to maintain gross margin, with month-to-month price adjustments based on component costs.
- Risks flagged
- Memory and component price volatility (noted as monthly adjustments; memory prices recently stabilized), potential slower adoption of sovereign SASE or service-provider investments, competition from other SASE and SD-WAN vendors (many relying on acquisitions), supply chain/distribution dynamics, and macro/regulatory risks (e.g., NIS2 and other regional regulation). Management also reminded listeners that forward-looking statements are subject to risks and uncertainties per SEC filings.
| Reported | EPS | Revenue | Move |
|---|---|---|---|
| Jul 29, 2026 | $0.81 est $0.66 | $2.05B est $1.89B | +2.8% |
| May 6, 2026 | $0.82 est $0.62 | $1.85B est $1.73B | +20.1% |
| Feb 5, 2026 | $0.81 est $0.74 | $1.91B est $1.86B | +2.0% |
| Nov 5, 2025 | $0.74 est $0.63 | $1.72B est $1.70B | −5.5% |
| Aug 6, 2025 | $0.64 est $0.59 | $1.63B est $1.63B | −21.7% |
| May 7, 2025 | $0.58 est $0.53 | $1.54B est $1.54B | −8.8% |
| Feb 6, 2025 | $0.74 est $0.60 | $1.66B est $1.59B | +2.5% |
| Nov 7, 2024 | $0.63 est $0.52 | $1.51B est $1.48B | +13.8% |
“Move” is the close of the first session after the report compared with the close of the last session before it, so it reads the same whether the company reported before the open or after the close.
Fortinet stock forecast and analyst price targets
Analysts’ average 12-month price target for Fortinet is $164.32, −3.3% from the last close, from 32 firms rating the stock in the last 90 days.
$164.32consensus 12-month target, −3.3% from the last close
Now $169.84Avg $164.32
Low $102High $220
Each firm’s latest rating in the last 90 days: 32 firms.
Latest analyst actions
| Date | Firm | Target | vs price |
|---|---|---|---|
| Sep 17 | Bernstein | $145 | −14.6% |
| Sep 16 | TD Cowen | $215 | +26.6% |
| Sep 10 | Wedbush | $155 | −8.7% |
| Aug 27 | Stifel Nicolaus | $175 | +3.0% |
| Aug 20 | Citi | $185 | +8.9% |
+2.7%average 20-day move after past Neutral readings
+3.1%average move over the next 20 trading days in the last 5 years
±4.2%typical daily move, from the 14-day average range
Gekko doesn’t publish price predictions. These are analyst targets and historical base rates, which don’t guarantee future results.
Fortinet seasonality: the next 20 trading days
Over the next 20 trading days from Sep 19, Fortinet averaged +3.1% across the last 5 years, rising in 2 of them.
Next 20 trading days, by year
Average move and hit rate
| Window | Average | Years higher |
|---|---|---|
| Next 5 trading days | −1.2% | 3 of 5 |
| Next 10 trading days | −0.2% | 3 of 5 |
| Next 15 trading days | +1.7% | 3 of 5 |
| Next 20 trading days | +3.1% | 2 of 5 |
| Next 30 trading days | +4.9% | 4 of 5 |
For scale, FTNT’s typical 20-trading-day move in either direction is about 5.8%.
Fortinet market cap and key statistics
Fortinet’s market cap is $124.6B, with a P/E ratio of 60.6 and revenue of $7.53B over the last twelve months.
Valuation
- Market cap
- $124.6B
- P/E ratio
- 60.6
- Forward P/E
- 44.3
- EPS, TTM
- $2.85
- Gekko Fair Value
- $131.51
Trading
- Volume
- 12.27M
- Avg volume, 20 days
- 4.51M
- 52-week high
- $176.10
- 52-week low
- $73.55
- Shares outstanding
- 733.7M
Financials
- Revenue, TTM
- $7.53B
- Profit margin
- 28.2%
- Return on equity
- 117.4%
- Quarterly earnings growth, YoY
- +43.9%
Risk and income
- Beta
- 1.06
- Typical daily move
- ±4.2%
- Typical 20-day move
- ±5.8%
Fortinet stock news this week
Coverage of Fortinet this week reads positive: 12 positive, 2 neutral and 1 negative headlines.
- Fortinet (FTNT) Stock Could Be 22% Overvalued On New York Hub OpeningYahoo Finance, Sep 19
- What Is Changing the Conversation Around Fortinet (FTNT)?Kalkine Media, Sep 19
- Nykredit A S Acquires New Position in Fortinet, Inc. $FTNTDefense World, Sep 19
- Why Fortinet Stock Zoomed Almost 9% Higher This WeekFool - Investing News, Sep 18
- Fortinet (FTNT) Stock Declines While Market Improves: Some Information for InvestorsZacks Investment Research, Sep 18
- Fortinet Stock Rises Following Analyst Price Target IncreaseIntellectia AI, Sep 18
Fortinet peers
Fortinet’s 6 largest industry peers by market value, with today’s move, GekkoIndex zone and gap to Gekko Fair Value.
| Stock | GekkoIndex zone | vs Fair Value |
|---|---|---|
| IBMInternational Business Machines | Accumulation | 15.8% below |
| NETCloudflare | Neutral | 14.0% above |
| ACNAccenture | Neutral | 5.3% below |
| WDAYWorkday | Neutral | 15.8% above |
| CRDOCredo Technology | Accumulation | 26.9% below |
| HPQHP | Neutral | 9.3% above |
A peer links to its own page where one exists.
Fortinet stock FAQ
What is Fortinet’s market cap?
Fortinet’s market cap is $124.6B at the Sep 18, 2026 close of $169.84, with 733.7M shares outstanding. The shares trade on a P/E ratio of 60.6.
What is the Fortinet stock forecast?
The consensus analyst 12-month price target for Fortinet is $164.32, −3.3% from the last close. Of the 32 firms that rated the stock in the last 90 days, 6 rate it a buy, 22 a hold and 4 a sell. Gekko doesn’t publish price predictions of its own.
Is Fortinet stock overvalued or undervalued?
On Gekko’s estimate Fortinet is overvalued: the Sep 18, 2026 close of $169.84 is 29.1% above Gekko Fair Value of $131.51. Gekko Fair Value is recalculated every trading day, and a gap inside 5% either way counts as about fair value.
When does Fortinet report earnings next?
Fortinet is expected to report on Nov 4, 2026, after the market closes (45 days away). Analysts expect earnings of $0.86 per share on revenue of $2.06B. Fortinet beat the earnings estimate in 8 of its last 8 reports, moving 9.7% on average across the report.
What is Fortinet’s 52-week high and low?
Fortinet’s 52-week high is $176.10 and its 52-week low is $73.55; it closed at $169.84 on Sep 18, 2026, +111.5% over the past year.
Is Fortinet stock a buy right now?
Gekko describes the data; it does not make buy or sell recommendations. On the swing-trade checklist, 3 of the 6 items with data read as supportive (trend, smart money and earnings risk), 2 as mixed (gekkoindex and seasonality) and 1 as a headwind (fair value). The checklist is a description of current data, not a recommendation.
How this page works
Prices and signals update after every US market close; the GekkoIndex, Gekko Fair Value and the checklist are Gekko’s own, and the Gekko Brief is written by AI from this page’s data and checked against it before it is published. How Gekko’s data works →
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