FTNT

FortinetC

Nasdaq / Software & Services

At close

2026-07-18

Current thesis

The strongest supported bull argument is a genuine beat-and-raise: Q1 exceeded the high end of company guidance, billings/product growth reaccelerated sharply, and free cash flow was record level. The March 2026 FortiOS 8.0 launch and the Arista/MPS Secure AI Data Center proof point give investors dated product and partner/customer milestones to monitor after the earnings print.

Posture

Mixed

Lead driver

Momentum

What changed

Momentum remains the lead driver in the composite, 7D delta -3.0.

What can break

Competitive pressure in firewall, SASE, and broader enterprise security remains high, especially against direct operating comparators Palo Alto Networks, Check Point, and Cisco.

Momentum

Value

Sentiment

Setup hits (3d)

— · Net —

AI TargetsBase $109.00 · Bull $125.00 · Bear $92.00

Data freshness

Prices

As of 2026-07-18

Fundamentals

As of 2026-07-17 • Vendor: Data Vendor v1

Scores

As of 2026-07-18 • Model: HYBRID_IC_RP

AI Memo

As of 2026-05-08 • Model: RankAlpha Sentiment Codex

Investment thesis

As of 2026-07-18

Supporting evidence

What

Grade C · Mixed

Confidence Medium · Net —

Target $120.68

Why

Momentum95 · Δ7d -3.0

Value50 · Δ7d -0.3

Sentiment14 · Δ7d -3.5

So what

Balanced signals. Wait for confirmation before sizing up.

Setup hits not loaded

Load setup hits to see net bias and recent triggers.

Load setup hits

Lead driver: Momentum · See technicals

Momentum

26% active weight

Current posture

7d trendSoftening

Δ7d

-3.0

Δ21d

-2.9

Value

39% active weight

Current posture

7d trendFlat

Δ7d

-0.3

Δ21d

-0.3

Sentiment

34% active weight

Current posture

7d trendSoftening

Δ7d

-3.5

Δ21d

-6.0

Why this grade

Composite grade C. Momentum 95.4 / Value 50.1 / Sentiment 14.5

Fundamentals (TTM)

As of 2026-07-17

Market Cap

$118.4B

Beta

1.07

Shares Out

732.65M

P/E (TTM)

32.1

P/S (TTM)

8.84

P/FCF (TTM)

28.57

Rev YoY

+20.1%

EPS YoY

+29.0%

Gross Margin

+80.3%

Op Margin

+31.0%

Net Debt

-$2.52B

Current Ratio

1.15

As of 2026-07-18 • Updated nightlySource: Internal modelMethodology