Stock analysis, trade plans, and proprietary indicators by Trend Edge.
About Fortinet Inc
Fortinet, Inc. provides cybersecurity and convergence of networking and security solutions worldwide. The company offers FortiOS, a unified operating system designed to address cybersecurity threats; FortiASIC application-specific integrated circuit (ASIC)-based security processing units; FortiCloud, a private cloud software as a service platform; FortiAI, which provides a dual-layered defense across the Fortinet Security Fabric; FortiEndpoint, w… Read full Trend Edge analysis →
Sector: Technology
Industry: Software-Infrastructure
Exchange: NASDAQ
IPO Date: November 18, 2009
Headquarters: 909 Kifer Road, Sunnyvale, CA, United States, 94086
Founder-Led: Yes — Ken Xie (Founder, Chairman of the Board, and Chief Executive Officer), Michael Xie (Founder, President, and Chief Technology Officer)
Key Metrics
Current Price
$127.93
Market Cap
$94.85B
Float
617.6M
Shares Outstanding
732.6M
P/E (Forward)
43.86
P/E (TTM)
50.18
Price/Sales (TTM)
13.34
vs. Analyst Target
-16.2% to analyst PT
Profit Margin
27.49%
Operating Margin (TTM)
31.28%
Revenue (TTM)
$7.11B
Earnings Growth (YoY)
28.60%
Dividend Rate
None
Analyst Target Price
$107.17 (45 analysts)
Financial History
Annual Revenue & Earnings History
Year
Revenue
Net Income
Gross Profit
EBITDA
2020
$2.59B
$489M
$2.02B
$611M
2021
$3.34B
$607M
$2.56B
$728M
2022
$4.42B
$857M
$3.33B
$1.08B
2023
$5.30B
$1.15B
$4.07B
$1.24B
2024
$5.96B
$1.75B
$4.80B
$2.20B
2025
$6.80B
$1.85B
$5.50B
$2.46B
Recent Quarterly Revenue & Net Income
Quarter
Revenue
Net Income
Jun 2025
$1.63B
$440M
Sep 2025
$1.72B
$474M
Dec 2025
$1.91B
$506M
Mar 2026
$1.85B
$535M
Ownership & Float
Insider Ownership
17.4%
Institutional Ownership
72.6%
Short Float
3.1%
% of All Funds Holding
15.06%
Number of Funds Holding
1,238
Current Moving Averages
Trend Edge tracks near-term, medium-term, cyclical, and secular moving averages across weekly and monthly timeframes to identify trend structure at every horizon.
Timeframe
SMA
Value
Trend Context
Weekly
10-Week SMA
$98.86
Near-term / short-term trend
Weekly
40-Week SMA
$86.12
Medium-term trend
Weekly
80-Week SMA
$92.32
Cyclical trend (business cycle)
Weekly
200-Week SMA
$74.30
Secular trend (multi-year)
Monthly
10-Month SMA
$86.41
Near-term monthly trend
Monthly
20-Month SMA
$92.43
Medium-term monthly trend
Monthly
40-Month SMA
$78.58
Secular monthly trend
Volume Shelves — Support & Resistance
Trend Edge identifies volume shelves: price zones where historically elevated trading volume
creates structural support or resistance. A volume shelf forms when a disproportionate share of cumulative
volume was transacted at a specific price level, making it a high-conviction anchor for future price reactions.
Price Level
Type
Volume Ratio
Age
$76.00
support
1.20x
7 months ago
$59.00
support
1.03x
20 months ago
Historical Earnings Reactions (67 events)
Timeframe
Avg Return
Median
Win Rate
Best
Worst
Gap
0.65%
2.38%
58.21%
20.31%
-23.07%
1 Day
1.17%
2.72%
56.72%
25.30%
-25.07%
1 Week
1.88%
2.26%
59.70%
35.48%
-26.03%
2 Weeks
2.33%
2.64%
55.22%
43.92%
-24.55%
1 Month
2.62%
3.74%
54.55%
34.56%
-34.50%
Next earnings: August 5, 2026 (69 days away)
Seasonality & Day-of-Week Patterns
Monthly Seasonality
Month
Avg Return
Win Rate
Samples
Jan
4.2%
70.6%
17
Feb
7.7%
82.4%
17
Mar
2.0%
58.8%
17
Apr
0.7%
64.7%
17
May
1.3%
62.5%
16
Jun
2.8%
68.8%
16
Jul
3.1%
68.8%
16
Aug
1.6%
50.0%
16
Sep
-0.4%
50.0%
16
Oct
2.5%
56.3%
16
Nov
2.4%
56.3%
16
Dec
2.4%
58.8%
17
Day-of-Week Tendencies
Day
Avg Return
Win Rate
Samples
Monday
0.09%
54.2%
777
Tuesday
0.14%
50.6%
855
Wednesday
0.16%
53.3%
851
Thursday
0.16%
54.2%
836
Friday
0.16%
55.1%
833
Top Institutional Holders
Institutional holder breakdown coming soon.
Total institutional ownership: 72.6%
Insider Transactions — Smart Summary
Total insider ownership: 17.4%
Founder-led management: Ken Xie (Founder, Chairman of the Board, and Chief Executive Officer), Michael Xie (Founder, President, and Chief Technology Officer)
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