FTNT · NASDAQ · STOCK
Fortinet (FTNT) Stock Analysis
$153.51
52W $73.55 – $172.09
60/100
$112.63B
53.7
1.06
Is FTNT Bullish or Bearish?
Bullish.
Innellis AI committee rates Fortinet (FTNT) Buy with a composite score of 60/100
, based on 5 analysts with 60% agreement.
Last updated August 23, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +15.43 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -4.57 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
Positive signals support the current rating — 5 consecutive earnings beats -- consistent execution. The committee sees sufficient evidence to maintain the constructive view.
Bull & Bear Case
Bull Case
- ROE of 187.9% shows genuine earnings power backing the valuation — Value
- 5 consecutive earnings beats -- consistent execution — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- News sentiment is positive (+0.27 across 40 articles, 14d) — News
Bear Case
- P/E of 56.4 is expensive by classic value standards — Value
- Price-to-book of 47.7x prices in significant intangible value — Value
- MACD histogram negative -- bearish momentum — Technical
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of August 23, 2026
Overall Committee Score
60/100
Agreement
60%
Analysts
5
Conviction
Moderate
Sector Rank
Top 33%
of 287 Technology peers
Value Analyst
neutral
42
/ 100 · Moderate confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 187.9% shows genuine earnings power backing the valuation
− P/E of 56.4 is expensive by classic value standards
Growth Analyst
bullish
77
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ 5 consecutive earnings beats -- consistent execution
Technical Analyst
neutral
48
/ 100 · High confidence
Mixed or range-bound price action
− MACD histogram negative -- bearish momentum
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
66
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
+ News sentiment is positive (+0.27 across 40 articles, 14d)
Portfolio Manager
neutral
45
/ 100 · High confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− Sector concentration is already high (HHI 3069.37)
Investment Thesis Evolution
Committee score moved marginally from 59.6 to 59.6.
- Bullish support removed: 1 signal(s) disappeared.
- New bullish signals: 1 appeared.
Analyst-level changes:
- News Analyst: +1 bullish signal(s).
Comparing 2026-08-22 to 2026-08-23 (1 day apart).
Technical Analysis
RSI (14)
41.2
Neutral
MACD Histogram
-1.497
Bearish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Hh Hl
Bollinger %B
0.27
Inside Bands
Price vs Moving Averages
EMA 9
$156.25
Below
EMA 21
$157.51
Below
EMA 50
$151.63
Above
EMA 200
$118.82
Above
Fundamental Analysis
Valuation
0
Growth
85
Profitability
100
Financial Health
70
Cash Flow
70
Valuation
P/E Ratio
53.7×
P/B Ratio
72.83×
PEG Ratio
4.12
Dividend Yield
0.00%
52W High
$172.09
52W Low
$73.55
Quality & Growth
ROE
14977.0%
ROA
1784.0%
Gross Margin
8037.8%
Operating Margin
3242.6%
Revenue Growth YoY
—
Debt / Equity
0.32
AI Fundamental Assessment
P/E ratio of 53.7 (rich relative to a 15-40x range); Price-to-book of 72.8x; PEG ratio of 4.1 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 149.8%; Return on assets of 17.8%; Net margin of 28.2%; Gross margin of 80.4%; Current ratio of 1.28 (tight short-term liquidity); Debt-to-equity of 0.32; Free cash flow per share is positive (4.24); Most recent quarter beat estimates by 18.2%; 5 consecutive earnings beats; EPS growth accelerating (+1.2% -> +9.8% QoQ); Average YoY EPS growth of 40.6%; Analyst estimates flat over recent quarters
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