How to Buy Fortinet Stock
Fortinet Inc
Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
Fortinet stock last closed at $65.45, up 1% from the previous day, and has decreased 1.21% in one year. It has underperformed other stocks in the Software - Infrastructure industry by 0.16 percentage points. Fortinet stock is currently +48.35% from its 52-week low of $44.12, and -19.44% from its 52-week high of $81.24.
As of Apr 24, 2024, there are 763.03M FTNT shares outstanding. The market cap of FTNT is $49.94B. In the past 24 hours, 3.8M FTNT shares were traded.
How to Buy Fortinet Stock
Not sure how to invest in Fortinet stock? Here's how.
- Choose where to buy Fortinet stock: You need to choose an online brokerage, but don't worry - we've tested dozens of online stock brokerages and apps to help you decide where to buy Fortinet stock.
- Open a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've found.
- Deposit funds into your brokerage account: Choose your method of payment and add your details.
- Research Fortinet stock: The Fortinet ticker symbol is FTNT. Is Fortinet stock a good investment? Should you buy shares of FTNT? How do FTNT's underlying business fundamentals look? Do top analysts think Fortinet is a good buy? Why has FTNT's stock price moved recently? (Hint: Our stock analysis website can help you decide if FTNT is a good stock to buy).
- Place your FTNT trade: Decide if you will purchase FTNT shares at the current market price or use a limit order to buy FTNT shares at a specific price.
- Get key alerts regarding your FTNT position: Create a watchlist to the latest updates on your new investment in Fortinet stock.
Step 1: Choose where to buy Fortinet stock
You will need an online brokerage account to access the NASDAQ market and buy FTNT shares.
Our preferred brokerage: eToro
We believe that eToro is the best place to buy stocks. eToro gives you:
- You can invest in stocks with zero commissions: Invest without commissions.
- Buy fractional shares: Even if you can't afford a full share, you can still buy the stock.
- Access to world markets: From Tech to Financial Services, New York to Tokyo — you can fill your portfolio with stocks from the world's top exchanges.
- Social investing: eToro boasts a community of more than 20 million users around the world. Talk to, learn from, and copy the crypto trades of other investors.
- Security: eToro is a regulated and licensed brokerage platform.
- Buy other assets: Such as ETFs and cryptos.
Get $10 towards your stock purchase by opening an account with eToro today.
Open eToro AccountStep 2: Open a brokerage account
Now that you've chosen your brokerage, you need to fill out some personal details so you can invest in FTNT today.
How to Open a New Investment Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal details to create your new brokerage account.
- Submit your application by hitting the "Create Account" button. Get started with eToro today
Step 3: Deposit funds into your brokerage account
Now that you've opened your account on a investment app, you can securely and quickly fund your account:
Check out the walkthrough below to see the process of transferring funds into your brokerage account.
Step 4: Research Fortinet stock
After you have chosen the best place to buy Fortinet stock, it's critical to research their stock prior to investing, so you actually comprehend the risk and upside.
Fortinet stock quick numbers
FTNT Zen Score
WallStreetZen was created to help average investors do more in-depth fundamental analysis quickly.
You can view all of the due diligence checks on FTNT's stock page.
What is the fair value of FTNT stock?
Analysts use many financial metrics, analyses, models, and charts to gauge FTNT's true value.
Using relative valuations measures:
- FTNT may be undervalued based on its P/E ratio of 44.52x, relative to Software - Infrastructure industry P/E ratio of 77.6x
You can access more valuation research on FTNT's stock here.
FTNT Financials at a glance
Positive Health Checks:
- There are more short-term assets than long-term liabilities on the FTNT balance sheet.
- FTNT earnings of $1.31B is not enough to cover its interest payments.
- There are more short-term assets than short-term liabilities on the FTNT balance sheet.
- FTNT's operating cash flow of $1.94B allows it to safely service it's debt of $992.30M.
- FTNT profit margin has gone up from 19.4% to 21.6% in the past year.
Negative Health Checks:
- FTNT debt to equity ratio of -16.66 is negative.
- Total FTNT debt is still negative.
Is FTNT stock a Buy, Hold, or Sell, according to Wall Street analysts?
Out of 23 sell side analysts who give forecasts on FTNT, the consensus analyst rating on Fortinet is a Hold
It's important to note that analyst ratings are not stock recommendations, nor are they investment advice.
Latest FTNT Analyst Upgrades/Downgrades
Gabriela Borges, a top 17% analyst from Goldman Sachs maintains FTNT with a strong buy rating and raises their FTNT price target from $60.00 to $85.00, on Feb 8, 2024.
Markus Leistner, a bottom 47% analyst from DZ Bank downgrades FTNT to a strong sell rating and announces their FTNT price target of $60.00, on Feb 8, 2024.
Joel Fishbein, a top 9% analyst from Truist Securities maintains FTNT with a strong buy rating and raises their FTNT price target from $60.00 to $80.00, on Feb 7, 2024.
Hamza Fodderwala, a top 17% analyst from Morgan Stanley maintains FTNT with a strong buy rating and raises their FTNT price target from $77.00 to $81.00, on Feb 7, 2024.
Patrick Colville, a bottom 7% analyst from ScotiaBank maintains FTNT with a buy rating and raises their FTNT price target from $70.00 to $90.00, on Feb 7, 2024.
ScotiaBank's Patrick Colville raised their price target on Fortinet (NASDAQ: FTNT) by 28.6% from $70 to $90 on 2024/02/07. The analyst maintained their Buy rating on the stock.
The company delivered a "much-needed" Q4 billings beat thanks to some large deals pulled in from Q12024 and pushed from Q32023, the analyst said after reviewing Fortinet's Q4 and FY 2023 print, released on 2024/02/06.
More importantly, management's FY 2024 billings outlook was in line with consensus, Colville noted, adding that the near-term guidance setup for Fortinet "looks de-risked."
Earnings Report
Fortinet reported:
For Q4 2023:
- EPS of $0.51, which beat the Zacks Consensus Estimate by 18.6% and, by 15.9%, Q4 2022's $0.44.
- Service revenue of $927M, up 24.8% from Q$ 2022's $742.9M.
- Revenue of $1.415B, which beat the Zacks Consensus Estimate by 0.33% and Q4 2022's $1.28B by 10.3%.
- 78.5% gross margin, up 90 bps Y/Y.
- 32% operating margin, down from Q4 2022's 32.5%.
- The Board of Directors added $500M to the share repurchase program, resulting in $1.03 B available for future share repurchases.
For FY 2023:
- EPS of $1.63, up 37% from FY 2022's $1.19.
- Revenue of $5.3B, up 20.1% from FY 2022's $4.42.
- Service revenue of $3.38B, up 28.1% from FY 2022's $2.64.
- Billings of $6.40B, up 14.4% from FY 2022's $5.59B.
- 28.4% operating margin, up from FY 2022's 27.3%.
- The repurchase of 27.2M shares for $1.5B.
Management guided:
For Q1 2024:
- EPS of $0.37 to $0.39.
- Revenue of $1.3B to $1.36B.
- Billings of $1.39B to $1.45B.
- 76.5% to 77.5% gross margin.
- 25.5% to 26.5% operating margin.
For FY 2024:
- EPS of $1.65 t0 $1.7o.
- Revenue of $5.715B to $5.815B.
- Services revenue of $3.92B to $3.97B.
- Billings of $6.4B to $6.6B.
- 76% to 78% gross margin.
- 25.5% to 27.5% operating margin.
Founder, Chairman & CEO Ken Xie commented: “In Q4, Security Operations billings grew 44% Y/Y and SASE billings increased 19% Y/Y, driven by our successful sales strategy shift and the improved execution of our sales teams.
“Our platform strategy is resonating with enterprises worldwide as we are a leader in Secure Networking and are the #1 firewall vendor for units shipped with FortiGates accounting for over half of the global deployment.
"Fortinet is well-positioned to consolidate the security capabilities of our over half a million customers onto our integrated FortiOS operating system, which encompasses over 30 networking and security functions spanning on-premises and cloud environments.”
You can dig deeper into what analysts are projecting on the Fortinet stock forecast page.
Metrics for Advanced FTNT Traders
FTNT Earnings
Last year, FTNT earnings were $1.15B. Over the past five year, FTNT's earnings have increased by 29.99% per year. This was slower than the Software - Infrastructure industry average of 141.57%.
Last year, FTNT revenue was $5.30B. Over the last five year, FTNT's revenue has increased by 24.07% per year. This was faster than the Software - Infrastructure industry average of 17.1%.
Dig into FTNT's earnings and revenue performance here.
What are FTNT insiders up to?
Over the past year, insiders at FTNT have sold more shares than they have bought.
Ken Xie, PRESIDENT CEO of FTNT, was the latest FTNT insider to sell. They sold $6,552.00 worth of FTNT shares on Apr 17, 2024.
Learn more about who owns FTNT stock here.
Can I rely on FTNT as an income stream?
No, Fortinet doesn't provide an income stream by paying out dividends.
FTNT Social Trading Data
One of the major reasons eToro is our favorite brokerage is because of its social trading community.
Click below to learn what other investors have to say.
Step 5: Place your FTNT trade
You have two main order types:
- Market order: A market order is an order to buy or sell a stock at the best possible price.
Market orders are usually sufficient. - Limit order: A limit order enables you to buy or sell a security at a specific price (or better).
If you want to be sure you're buying or selling at a specific dollar amount limit, use a limit order.
Press the Open Trade button and your broker will place the order.
If you need more info about buying stocks on eToro, click the how to video below:
Step 6: Get key alerts regarding your FTNT position
Now that you own some shares in FTNT, you'll want to keep up with your new company.
Put FTNT on a watchlist to see the latest developments about your FTNT stock.
FTNT Feed
How to Buy Stock in Fortinet
To summarize, here are the 6 steps for buying Fortinet stock:
- Choose where to buy Fortinet stock
- Open a brokerage account
- Deposit funds into your brokerage account
- Research Fortinet stock
- Place your FTNT trade
- Get key alerts regarding your FTNT position
If you need a brokerage account, eToro is our favorite venue.
Get Started with eToro TodayIf you want to get the latest news on your investment in Fortinet, create your watchlist below.
Related "How To" Guides
FAQ
Company
AboutNewsBlogStock Investing FAQPlansPrivacy PolicyTerms of ServiceCancellation & RefundsHelp GuidesContactTwitterYouTubeNewsletterInformation is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.