Fortinet, Inc. (FTNT)

Fortinet's stock price has been influenced by several key events in the past six months, primarily its quarterly earnings reports. In Q2 2025, the company reported strong growth but the stock declined 22.0%. In Q3 2025, Fortinet reported revenue of $1.72 billion and the stock gained 0.9%. In Q4 2025, Fortinet reported strong results and the stock gained 2.3%. As of February 6, 2026, the stock's closing price was $82.76, with a 52-week high of $114.82 and a 52-week low of $70.12.

Demand for Fortinet's products and services is significantly influenced by a mandatory firewall refresh cycle. When support for older FortiGate firewall models ends, customers are compelled to upgrade to newer models. This creates a substantial revenue floor, particularly in years with major refresh cycles, such as 2026. This upgrade process also presents an opportunity for Fortinet to upsell higher-margin services.

Fortinet, Inc. is an American cybersecurity company specializing in network security appliances and Unified Threat Management (UTM) solutions. The company operates within the Technology sector, specifically in the Software - Infrastructure industry. Fortinet provides an integrated cybersecurity platform that combines high-performance network security appliances with recurring revenue streams from software subscriptions and technical support. Fortinet's product portfolio includes network security solutions such as FortiGate firewalls, cloud security solutions, zero-trust access solutions, security operations suites, application security solutions like FortiWeb, operational technology security, and other products and services like FortiSwitch and FortiGuard Labs threat intelligence.

Fortinet is a global company with a significant international presence, serving over 800,000 customers across the world, including enterprises, service providers, and government entities. The company has offices in the US, Canada, and the UK. Its revenue is distributed across various regions, including the United States, Europe, Middle East and Africa (EMEA), Asia Pacific (APAC), and other Americas.

Fortinet maintains a strong brand reputation as a global leader in cybersecurity and networking innovation. The company is recognized for providing comprehensive, integrated security solutions and is trusted by over 700,000 enterprises, service providers, and government organizations worldwide. Fortinet's FortiGuard Labs enhances its reputation by utilizing advanced AI and machine learning for timely and top-rated protection.

Fortinet, Inc. has significant institutional ownership, with approximately 70% to 83.71% of the company held by institutional firms. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., and State Street Corp. Individual ownership, including insiders, accounts for approximately 15% to 17.20% of the stock. Key individual owners include co-founders Ken Xie and Michael Xie, as well as the Xie Foundation.