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Fortinet (FTNT, Systems Software) Stock Valuation & Fair Value Poor on forward returns

Fortinet (FTNT, Systems Software) trades at a blended P/E of 55.3, about 17% above its historical normal valuation, with a forward growth estimate of 12.5% and a PEG of 4.42. Analysts' one-year estimates have been hit 9% of the time. Priced at its historical normal P/E of 47.5 on the same blended earnings, the 2026-10-02 close of $180.95 corresponds to about $155 a share. This is a valuation reference, not a price target.

DATA AS OF 2026-10-05
Blended P/E
55.3
Normal P/E
47.5
PEG
4.42
Fwd growth
12.5%
Div yield
0.0%
RSI (14)
68.3
Neutral
Technical context
  • Price $189.10 at the 2026-10-08 close, 6.9% above the 20-day average ($176.88) and 13.5% above the 50-day ($166.56).
  • RSI (14) at 68.3.
  • 52-week range $75.23 to $191.27: the price is 1.1% below the high and 151.4% above the low.

The Street vs SeerForecast

Wall Street's mean price target for FTNT is $164.32 across 36 analysts, 13.1% below the current price. The average analyst rating is Hold. Our SeerForecast read of the same stock, formed without analyst targets: poor on forward returns. When the two disagree, start your digging there.

Valuation flags

Verdict history

tickerseer's rating has been poor on forward returns since 2026-06-03.

Blended P/E and rating by weekBlended P/E moved from 44.5 to 55.3 between 2026-06-03 and 2026-10-02, against a normal P/E of 47.5, with 0 rating changes over 37 recorded weeks.2026-06-03: P/E 44.5, Poor on forward returns, recalculated for the week of 2026-06-032026-06-10: P/E 49.5, Poor on forward returns, recalculated for the week of 2026-06-102026-06-12: P/E 49.5, Poor on forward returns, recalculated for the week of 2026-06-142026-06-16: P/E 49.5, Poor on forward returns, recalculated for the week of 2026-06-162026-06-18: P/E 49.5, Poor on forward returns, recalculated for the week of 2026-06-212026-07-02: P/E 53.9, Poor on forward returns, recalculated for the week of 2026-07-022026-07-06: P/E 53.0, Poor on forward returns, recalculated for the week of 2026-07-062026-07-09: P/E 53.0, Poor on forward returns, recalculated for the week of 2026-07-092026-07-10: P/E 53.2, Poor on forward returns, recalculated for the week of 2026-07-122026-07-13: P/E 53.2, Poor on forward returns, recalculated for the week of 2026-07-132026-07-14: P/E 53.2, Poor on forward returns, recalculated for the week of 2026-07-142026-07-20: P/E 54.5, Poor on forward returns, recalculated for the week of 2026-07-202026-07-22: P/E 54.5, Poor on forward returns, recalculated for the week of 2026-07-222026-07-24: P/E 51.2, Poor on forward returns, recalculated for the week of 2026-07-252026-07-27: P/E 51.2, Poor on forward returns, recalculated for the week of 2026-07-272026-07-31: P/E 48.9, Poor on forward returns, recalculated for the week of 2026-07-312026-07-31: P/E 51.3, Poor on forward returns, recorded live 2026-08-032026-08-07: P/E 50.6, Poor on forward returns, recalculated for the week of 2026-08-072026-08-07: P/E 50.4, Poor on forward returns, recorded live 2026-08-102026-08-14: P/E 52.0, Poor on forward returns, recalculated for the week of 2026-08-142026-08-14: P/E 50.3, Poor on forward returns, recorded live 2026-08-172026-08-21: P/E 47.2, Poor on forward returns, recalculated for the week of 2026-08-212026-08-21: P/E 48.1, Poor on forward returns, recorded live 2026-08-242026-08-27: P/E 48.1, Poor on forward returns, recalculated for the week of 2026-08-272026-08-28: P/E 53.9, Poor on forward returns, recalculated for the week of 2026-08-282026-08-28: P/E 51.8, Poor on forward returns, recalculated for the week of 2026-08-302026-08-28: P/E 51.8, Poor on forward returns, recorded live 2026-08-312026-09-04: P/E 48.5, Poor on forward returns, recalculated for the week of 2026-09-052026-09-04: P/E 48.5, Poor on forward returns, recorded live 2026-09-072026-09-11: P/E 48.3, Poor on forward returns, recalculated for the week of 2026-09-122026-09-11: P/E 48.3, Poor on forward returns, recorded live 2026-09-142026-09-18: P/E 52.3, Poor on forward returns, recalculated for the week of 2026-09-192026-09-18: P/E 52.3, Poor on forward returns, recorded live 2026-09-212026-09-25: P/E 53.2, Poor on forward returns, recalculated for the week of 2026-09-262026-09-25: P/E 53.2, Poor on forward returns, recorded live 2026-09-282026-10-02: P/E 55.3, Poor on forward returns, recalculated for the week of 2026-10-032026-10-02: P/E 55.3, Poor on forward returns, recorded live 2026-10-0545.050.055.0Jun 3Jul 3Aug 2Sep 2Oct 2Normal P/E 47.5
Poor on forward returns

Not every point was recorded live. Points marked recalculated apply today's valuation rules to the metrics tickerseer archived that week.

Selected weeks: the first, the latest, and the cheapest and dearest.

WeekBlended P/EPremium to normal P/ERating
2026-06-03P/E 44.5-6%Poor on forward returns (recalculated)
2026-10-03P/E 55.3+17%Poor on forward returns (recalculated)
2026-10-05P/E 55.3+17%Poor on forward returns ← now
Show all 37 weeks
WeekBlended P/EPremium to normal P/ERating
2026-06-03P/E 44.5-6%Poor on forward returns (recalculated)
2026-06-10P/E 49.5+4%Poor on forward returns (recalculated)
2026-06-14P/E 49.5+4%Poor on forward returns (recalculated)
2026-06-16P/E 49.5+4%Poor on forward returns (recalculated)
2026-06-21P/E 49.5+4%Poor on forward returns (recalculated)
2026-07-02P/E 53.9+14%Poor on forward returns (recalculated)
2026-07-06P/E 53.0+12%Poor on forward returns (recalculated)
2026-07-09P/E 53.0+12%Poor on forward returns (recalculated)
2026-07-12P/E 53.2+12%Poor on forward returns (recalculated)
2026-07-13P/E 53.2+12%Poor on forward returns (recalculated)
2026-07-14P/E 53.2+12%Poor on forward returns (recalculated)
2026-07-20P/E 54.5+15%Poor on forward returns (recalculated)
2026-07-22P/E 54.5+15%Poor on forward returns (recalculated)
2026-07-25P/E 51.2+8%Poor on forward returns (recalculated)
2026-07-27P/E 51.2+8%Poor on forward returns (recalculated)
2026-07-31P/E 48.9+3%Poor on forward returns (recalculated)
2026-08-03P/E 51.3+8%Poor on forward returns
2026-08-07P/E 50.6+7%Poor on forward returns (recalculated)
2026-08-10P/E 50.4+6%Poor on forward returns
2026-08-14P/E 52.0+10%Poor on forward returns (recalculated)
2026-08-17P/E 50.3+6%Poor on forward returns
2026-08-21P/E 47.2-0%Poor on forward returns (recalculated)
2026-08-24P/E 48.1+1%Poor on forward returns
2026-08-27P/E 48.1+1%Poor on forward returns (recalculated)
2026-08-28P/E 53.9+14%Poor on forward returns (recalculated)
2026-08-30P/E 51.8+9%Poor on forward returns (recalculated)
2026-08-31P/E 51.8+9%Poor on forward returns
2026-09-05P/E 48.5+2%Poor on forward returns (recalculated)
2026-09-07P/E 48.5+2%Poor on forward returns
2026-09-12P/E 48.3+2%Poor on forward returns (recalculated)
2026-09-14P/E 48.3+2%Poor on forward returns
2026-09-19P/E 52.3+10%Poor on forward returns (recalculated)
2026-09-21P/E 52.3+10%Poor on forward returns
2026-09-26P/E 53.2+12%Poor on forward returns (recalculated)
2026-09-28P/E 53.2+12%Poor on forward returns
2026-10-03P/E 55.3+17%Poor on forward returns (recalculated)
2026-10-05P/E 55.3+17%Poor on forward returns ← now

Frequently asked questions

Is Fortinet stock overvalued?

At a blended P/E of 55.3 versus its historical normal P/E of 47.5, Fortinet trades about 17% above its typical valuation, with a PEG of 4.42 on 12.5% forward growth. tickerseer currently rates it poor on forward returns.

What is Fortinet's fair value and PEG?

Fortinet trades at a blended P/E of 55.3 against a historical normal P/E of 47.5, a PEG of 4.42, and a forward growth estimate of 12.5%. Priced at its historical normal P/E of 47.5 on the same blended earnings, the 2026-10-02 close of $180.95 corresponds to about $155 a share. This is a valuation reference, not a price target.

Has tickerseer's rating of Fortinet changed?

tickerseer's rating has been poor on forward returns since 2026-06-03.

What is the analyst price target for Fortinet?

The mean Wall Street price target for Fortinet is $164.32 across 36 analysts, 13.1% below the current price. tickerseer's SeerForecast verdict is formed independently of analyst targets.

Industry: Systems Software. Create a free account to see the full analysis: the SeerAI score, its five quality sub-scores, valuation history, and the AI research note. Options setups and metric history are part of the paid plans.

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