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Fortinet Inc FTNT Stock Quote


Last close prices updated as of May 26, 2023, 4:00 PM EST | USD | BATS BZX Real-Time Price
  • Last Close 67.77
  • Sector Technology
  • Industry Software - Infrastructure
  • Investment Style Large Growth
  • Day Range 67.30  –  68.82
  • Year Range 42.61  –  71.29
  • Market Cap 53.2127 Bil
  • Volume / Avg 5.3 Mil /  4.5 Mil
  • Price / Sales 11.45
  • Price / Book 4,667.78
  • Forward Div Yield
  • Trailing Div Yield

Morningstar‘s Stock Analysis FTNT

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

1-Star Price


5-Star Price


Economic Moat


Capital Allocation


Fortinet Earnings: Platform Vendors Nets Another Strong Quarter as Demand Remains Robust

Analyst Note

| Malik Ahmed Khan |

We maintain our $68 fair value estimate for wide-moat Fortinet after the firm reported a strong start to fiscal 2023 with sales and margins exceeding our expectations. Near-term macro headwinds remain, with broad-based budget scrutiny and spending optimization. However, we believe entrenched cybersecurity vendors such as Fortinet are better prepared to weather the macro pressures as their solutions are often must-haves for their clients. We believe that Fortinet, as a platform vendor, also stands to benefit from increased consolidation as customers rein in sprawling IT toolkits and reduce their overall number of IT vendors. We believe the breadth of Fortinet’s solutions, coupled with secular tailwinds such as increased spend on cybersecurity and consolidation of vendors, will allow the firm to deliver shareholder value in the long run. While we are optimistic on Fortinet’s value proposition over the long term, we believe the company’s current valuation reflects this optimism and view Fortinet’s shares as trading in the 3-star range.

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Key Statistics FTNT

Company Profile FTNT

Business Description

Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 500,000 customers across the world.

899 Kifer Road
Sunnyvale, CA, 94086
Industry Software - Infrastructure
Employees 13,202

Related Articles FTNT

Morningstar analysts hand-select direct competitors or comparable companies to provide context on the strength and durability of FTNT’s competitive advantage.

Fortinet Inc


Cisco Systems Inc


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CrowdStrike Holdings Inc Class A

+$0.60 (0.89%) +$0.83 (1.69%) +$3.72 (1.79%) +$4.51 (3.01%)
Market Cap
53.21 Bil204.22 Bil64.06 Bil36.54 Bil
Software - Infrastructure Communication Equipment Software - Infrastructure Software - Infrastructure

* Trading data in this section is delayed by at least 15 minutes.

FAQs for Fortinet Inc Stock

No. FTNT does not currently have a forward dividend yield.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

Learn more about dividend yield.

FTNT’s market cap is 53.21 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

Learn more about market capitalization.

FTNT’s stock style is Large Growth.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

Learn more about style.

FTNT’s price/sales is 11.45.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

FTNT’s price/forward earnings is 56.48.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

FTNT’s price/book is 4663.18.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

See FTNT’s valuation ratios compared to the Market Index.

FTNT’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare FTNT’s historical performance against its industry peers and the overall market.