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Is FTNT a good stock to buy in 2026?

Fortinet, Inc. (FTNT) stock currently holds a “Hold” consensus among analysts, with 44.1% recommending a Buy, and appears undervalued by its DCF model ($100.14, representing an 11.3% upside). Its P/E ratio of 34.0x is also lower than the sector average of 43.8x. However, the analyst consensus target of $87.59 suggests a slight downside of -2.6% from the current price, indicating a cautious outlook despite strong profitability and growth metrics. This information is for analysis purposes only and does not constitute investment advice.

2026 FTNT price scenarios

Based on analyst consensus of $87.59 from 68 analysts. Not a prediction by Alert Invest.

About Fortinet, Inc. (FTNT)

Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration.

Led by CEO Ken Xie, Fortinet, Inc. continues to be a pivotal player in the evolving cybersecurity landscape, offering comprehensive solutions that protect vast digital infrastructures globally. The company’s commitment to innovation in network security, cloud security, and endpoint protection is a cornerstone of its strategy. This focus on integrated and automated security platforms helps businesses worldwide defend against increasingly sophisticated cyber threats.

FTNT competitive moat and business analysis

Fortinet exhibits a robust competitive advantage, underscored by its impressive net margin of 27.49%. This indicates efficient operations and strong pricing power within the highly competitive cybersecurity sector. While specific ROE and ROIC figures are not available, the company’s strong profitability suggests effective capital allocation and a sustainable business model that generates significant returns from its core security offerings.

Though detailed segment and geographical revenue breakdowns for fiscal year 2025 are not explicitly provided, Fortinet’s core business revolves around its FortiGate products and extensive security solutions suite. These offerings span network security, multi-cloud security, endpoint security, and security operations. The company’s global presence across the Americas, Europe, the Middle East, Africa, and Asia Pacific ensures a diverse revenue stream, reducing dependence on any single region or product category.

The growth trajectory of FTNT stock remains compelling, with year-over-year revenue growth reported at 14.2%. This steady expansion demonstrates Fortinet’s ability to capture increasing demand in the cybersecurity market and adapt to emerging threats. While a specific transcript quote regarding moat trends isn’t available, the consistent revenue growth and strong margins suggest an expanding and well-defended market position, critical for long-term shareholder value.

When evaluating FTNT stock, it is helpful to compare its performance and strategic position against key industry peers. For example, comparing FTNT vs ADSK can highlight differences in market approach and valuation within the broader software infrastructure sector. Similarly, an analysis of FTNT vs CRWV provides insights into competitive dynamics in specialized security markets. Furthermore, examining FTNT vs INFY could reveal contrasting business models between cybersecurity specialists and broader IT services providers, offering a comprehensive view of Fortinet’s standing.

Fortinet, Inc. analyst rating

Based on 68 analysts. 44.1% rate FTNT Buy or Strong Buy.

A 44.1% ‘Buy’ rating might not be considered overwhelmingly strong for a high-growth technology company, especially when nearly half of analysts rate FTNT as a ‘Hold.’ However, in the context of a cautious market and the rigorous analysis of 68 different firms, this still indicates a significant portion of the analyst community sees potential in FTNT stock.

Is FTNT undervalued or overvalued?

Assessing FTNT valuation, we observe a P/E ratio of 34.0x, which stands at a notable discount compared to the Software – Infrastructure sector average of 43.8x. This suggests that FTNT stock might be considered ‘cheap’ relative to its industry peers on an earnings basis. Furthermore, our discounted cash flow (DCF) analysis indicates a fair value of $100.14, implying an 11.3% undervaluation against the current market price, reinforcing a positive signal from a fundamental valuation perspective for Fortinet.

However, a deeper dive into Fortinet’s valuation metrics reveals a mixed picture. The company’s P/B ratio of 67.15x and P/S ratio of 9.36x suggest that FTNT stock trades at a premium when considering its book value and sales, signaling that it could be perceived as ‘expensive’ through these lenses. Investors evaluating whether is FTNT a good stock to buy should weigh its attractive P/E and DCF-implied undervaluation against its higher multiples on book and sales, recognizing the robust growth and profitability that often command such premiums in the technology sector.

FTNT financial health & key metrics

For value investors, Fortinet presents a compelling mix of characteristics. While its Debt/Equity of 0.5x indicates moderate leverage and its FCF yield is fair, the company shines with an excellent net margin of 27.49% and steady revenue growth of 14.2%. The P/E ratio of 34.0x is attractive compared to the sector average, and the DCF fair value suggests FTNT stock is currently undervalued. Despite the lack of ROE/ROIC data, the strong profitability and growth metrics point to a financially healthy company that could appeal to those seeking growth at a reasonable price within the technology sector.

Fortinet, Inc. earnings history & next report

Fortinet, Inc. reported EPS of $0.82, beating estimates by 32.47%. Next earnings: 2026-08-05 with EPS estimate of $0.7.

Looking ahead to Fortinet’s next earnings report on 2026-08-05, investors will be closely watching for continued strong performance, particularly against the estimated EPS of $0.7. The company’s previous beat of $0.82 EPS by 32.47% sets a high bar, and maintaining or exceeding this momentum will be crucial for FTNT stock. Key areas to monitor include subscription revenue growth, expansion into new security markets, and any updates on strategic initiatives that could impact future profitability and revenue forecasts.

FTNT daily short volume

Short volume data from FINRA CNMS Consolidated — shares sold short in the most recent US trading session. A high short ratio can signal bearish conviction or a potential short squeeze. Updated every trading day.

FTNT insider trading activity

Corporate insiders must report trades to the SEC within two business days.

Source: SEC Form 4 via EDGAR · Data: Financial Modeling Prep · Not investment advice

Recent FTNT analyst rating changes

Fortinet, Inc. stock news today

How does FTNT compare to its peers?

For investors considering FTNT stock, it’s beneficial to analyze its position relative to other prominent players in the Technology sector. These comparisons offer a broader perspective on market dynamics, competitive landscapes, and different investment profiles within the Software – Infrastructure industry. Here are a few peers to consider alongside Fortinet, Inc.

FAQ — Fortinet, Inc. (FTNT) stock