Fortinet (NASDAQ:FTNT) Reaches New 52-Week High – Should You Buy?

Posted by George Bondi on Sep 22nd, 2026

Fortinet, Inc. (NASDAQ:FTNT – Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $177.25 and last traded at $174.4260, with a volume of 19005 shares changing hands. The stock had previously closed at $175.23.

Analysts Set New Price Targets

FTNT has been the subject of a number of research reports. Weiss Ratings upgraded Fortinet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Robert W. Baird set a $165.00 target price on Fortinet in a research note on Thursday, July 30th. BTIG Research boosted their target price on Fortinet from $186.00 to $203.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Zacks Research raised shares of Fortinet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, DZ Bank downgraded shares of Fortinet from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $152.79.

Check Out Our Latest Stock Analysis on FTNT

Fortinet Price Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.19 and a current ratio of 1.28. The company has a fifty day moving average price of $160.43 and a two-hundred day moving average price of $129.93. The company has a market cap of $125.97 billion, a P/E ratio of 60.18, a PEG ratio of 3.20 and a beta of 1.06.

Fortinet (NASDAQ:FTNT – Get Free Report) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. Fortinet’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, sell-side analysts anticipate that Fortinet, Inc. will post 3.07 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ken Xie sold 161,482 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the sale, the chief executive officer owned 52,972,372 shares of the company’s stock, valued at approximately $8,616,486,029.52. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Whittle sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total transaction of $478,377.90. Following the completion of the sale, the chief operating officer owned 96,987 shares of the company’s stock, valued at $16,365,586.38. This trade represents a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 221,303 shares of company stock valued at $36,164,034. 17.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Fortinet in the 2nd quarter valued at $9,561,650,000. Norges Bank acquired a new position in shares of Fortinet in the fourth quarter valued at $1,152,917,000. Bank of New York Mellon Corp raised its position in shares of Fortinet by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock valued at $1,151,810,000 after purchasing an additional 893,190 shares during the period. First Trust Advisors LP raised its position in shares of Fortinet by 45.5% in the first quarter. First Trust Advisors LP now owns 11,506,173 shares of the software maker’s stock valued at $940,284,000 after purchasing an additional 3,598,487 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Fortinet by 87.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,651,024 shares of the software maker’s stock worth $788,682,000 after buying an additional 4,500,194 shares during the last quarter. 83.71% of the stock is currently owned by institutional investors.

About Fortinet

(Get Free Report)

Fortinet, Inc develops cybersecurity products and services designed to protect enterprise, small and midsize business, service provider, and government networks. Its portfolio covers network security, endpoint protection, cloud security, secure access service edge (SASE), security operations, and zero-trust access.

The company’s offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiManager and FortiAnalyzer management and analytics tools.