NASDAQInformation TechnologySoftware - InfrastructureSnapshot 2026-07-31
Reading FTNT? Create a free portfolio, then add this holding for ongoing Reports and tracking. Track it in a free portfolio. No credit card.
Create your account →Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Systems Software: fringe margins under pressure (2q confirmed)
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
The reason to own it still holds.
View ThesisRevenue growth is accelerating — up about 19% over the past year.
View GrowthRanks among the strongest in its industry on quality — around the top 17%.
View QualityManagement screens strong on capital allocation, earnings delivery, margins, the balance sheet.
View ManagementExpectations look high — the market is pricing in about 24% growth a year, above the roughly 13% analysts expect, leaving little room for error.
View ValuationModerate volatility — typically moves about 2% a day.
View RiskFortinet's growth in AI-driven security has to keep compounding to justify the price. Revenue grew 26% year over year, and the last quarter beat expectations. It trades at 50× P/E versus a peer median of 38×. This suggests the price reflects less growth than we forecast. If FTNT cuts guidance on the next call, that could negatively impact the stock. Peer multiples imply a price about 22% below where it trades. Our read remains intact.
Trailing returns as of 2026-07-31. FTNT is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 46 analysts currently covering FTNT (as of Jul 2026).
Based on 23 Wall Street analysts offering 12-month price targets for FTNT in the last 4 months.
A consensus fair price across 10 valuation methods, at three horizons. As of 2026-08-01. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Systems Software — fair value, gap to price, and forward P/E.
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
Advances: Expand AI-driven security and SASE Firewall innovation
Fortinet's focus on AI-driven security aligns with innovation goals.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-07-31. EPS is implied from price ÷ P/E. Not investment advice.
Current $161.95
The last 12 months of price, then the range of analyst 12-month targets from today’s $161.95.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Top 10% on quality vs scored peers
A second lens on the 12-month fair value: for companies that score high on measured quality (profitability, balance-sheet safety, earnings stability), this read trusts more of today's profit margins instead of averaging them toward their multi-year history the way the headline number does. Shown alongside the fair value above, not in place of it. A diagnostic, not a price target or a buy/sell signal.
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
Advances: Increase annual revenue to $8.02-$8.18B in 2026
Product revenue growth supports revenue target for 2026.
Advances: Increase annual revenue to $7.79B in 2026
Increased revenue forecast supports growth objective.
Collaboration enhances product offering and market position.
Advances: Increase annual revenue to $7.79B in 2026
Increased price target reflects positive outlook on revenue growth.
New partnership enhances Fortinet's market position and revenue potential.
New partnership enhances Fortinet's product offerings and market position.
Collaboration boosts innovation and operational efficiency.
