FTNT NASDAQ Week ended 31 Jul 2026

Weekly Investor Report

Fortinet Inc · Technology · Software - Infrastructure

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Latest close 161.9 USD
6.3% latest week
Weekly setup

Constructive, but selective

The weekly trend is active. Price is 48.6% above the Trend Line and sits at 91.6% of its 52-week range. The latest completed week returned 6.3%, after a 3.6% four-week move. The latest factor snapshot indicates quality ranks strongly versus its universe; growth ranks strongly; valuation is expensive relative to peers. Options positioning is bullish with 49/100 conviction, while the latest news-sentiment score is 59/100. Near-term considerations: price is close to its 52-week high; earnings are due in 3d.

Setup score 67 out of 100
Latest Close 161.9 USD 31 Jul 2026
1W Return 6.3% latest completed week
4W Return 3.6% short-term follow-through
12W Return 42.0% quarterly tape
Trend Breadth 25.0% 13 of 52 weeks active
Volume Ratio 1.3x vs 13-week average
What is working
  • The trend backdrop is active with a 13-week active streak.
  • Price is above the Trend Line, keeping the weekly tape constructive.
  • Price is above Fair Value, showing premium demand versus the model.
  • Activity pressure is positive on the latest completed week.
What could go wrong
  • 17 reversal markers appear in the recent smart-money tape.
What to watch next
  • Price is close to its 52-week high; watch for continuation or exhaustion.
  • Trend Line remains the key weekly regime level.
  • Activity pressure is the gauge to monitor for confirmation or fade.
  • A volume ratio above 1.5x would show stronger participation in the next move.
Price follow-through 6.3% Latest completed week; four-week move 3.6%. Indicator stack 59/70 Trend and activity pressure are weighted against the latest 12-week confirmation window. Trend backdrop Active The trend backdrop defines the current weekly regime. Patient Capital Quiet Activity-pressure buy-signal status for institutional accumulation timing. Options pressure Bullish 49/100 conviction; expected move 5.8%. News sentiment 59/100 53 relevant articles in the latest sentiment read. Event risk 3d Next report is scheduled for 05 Aug 2026; event risk rises as the date approaches.
01 · Price action

Where price is—and whether the trend supports it

The weekly trend is active. Price is 48.6% above the Trend Line and sits at 91.6% of its 52-week range. The latest completed week returned 6.3%, after a 3.6% four-week move.

Study the full chart

52-week price path

Price vs Trend Line and Fair Value
Price Trend Line Fair Value
02 · Volume and demand

Is real participation confirming the move?

Latest weekly volume is 1.3x the 13-week average. Participation is around or above normal and provides reasonable confirmation.

26-week volume confirmation

Bar height shows volume; colour shows the weekly price direction
6 Feb 13 Feb 20 Feb 27 Feb 6 Mar 13 Mar 20 Mar 27 Mar 3 Apr 10 Apr 17 Apr 24 Apr 1 May 8 May 15 May 22 May 29 May 5 Jun 12 Jun 19 Jun 26 Jun 3 Jul 10 Jul 17 Jul 24 Jul 31 Jul
Up week Down week
Demand beneath price

Activity pressure and institutional-style signals

These indicators assess whether participation is improving beneath the headline price move. They are supporting evidence, not proof of institutional buying.

Activity pressure path

Latest 0.9912-week average 0.73

12-week confirmation

Trend active12/12Active trend-backdrop weeks in the latest 12-week window.
Positive pressure12/12Weeks with constructive activity pressure in the latest 12-week window.
Positive leadership12/12Weeks with positive relative leadership in the latest 12-week window.
Activity pressure0.99Current proprietary activity-pressure read.
Buy signals0Accumulation signal count in the latest 12 weeks.
Reversal markers1717 reversal markers

No recent accumulation markers. 17 reversal markers.

03 · Momentum and leadership

Is performance persistent—and is the stock leading?

Performance is 3.6% over four weeks, 42.0% over 12 weeks, and 66.3% over one year. The current trend has remained active for 13 consecutive weeks.

Performance by holding period

1W6.3%
4W3.6%
12W42.0%
26W99.3%
52W66.3%
Active trend streak13 weeks
Active weeks in one year13
Trend breadth25.0%

Activity pressure vs relative leadership

Activity pressureRelative leadership
Pressure1.23Latest activity-pressure read.
Pressure change-23.5%Four-week change in activity pressure.
Leadership54.74Latest relative-leadership reading.
RS change15.4%Four-week change in relative leadership.
04 · Fundamentals and valuation

What investors are paying for—and the quality behind it

The latest factor snapshot indicates quality ranks strongly versus its universe; growth ranks strongly; valuation is expensive relative to peers.

Open full factor analysis
Factor week 26 Jul 2026 Financial statements through 31 Mar 2026 Field coverage 94% Model confidence 90%

Relative factor standing

Higher display scores are better. Each score is converted from the underlying universe rank, where rank 1 is best.

Overall factor strength44/100Blend of value, momentum, and quality. Underlying universe rank 57; rank 1 is best.
Value2/100Relative valuation strength. Underlying universe rank 99; rank 1 is best.
Quality99/100Profitability and accounting quality. Underlying universe rank 2; rank 1 is best.
Momentum84/100Medium-term price momentum. Underlying universe rank 17; rank 1 is best.
Growth88/100Revenue and earnings growth. Underlying universe rank 13; rank 1 is best.
How to read this

Quality and valuation are separate questions

A strong company can still carry a demanding valuation. This report shows profitability, growth, balance-sheet strength, and the price paid for those characteristics separately.

Valuation

How much investors are paying for earnings, sales, and cash flow.

P/E
57.1x
Price divided by trailing earnings.
Price / sales
15.7x
Market value relative to trailing revenue.
EV / EBITDA
40.9x
Enterprise value relative to operating cash earnings.
Free-cash-flow yield
2.9%
Free cash flow as a share of enterprise value.

Business quality

Margins and the return generated on invested capital.

Gross margin
80.7%
Gross profit retained from each unit of revenue.
Operating margin
34.3%
Operating profit retained from revenue.
Free-cash-flow margin
44.6%
Free cash flow generated from revenue.
Return on invested capital
-
Operating return generated on invested capital.

Growth and financial strength

Recent business growth and accounting strength.

Revenue growth
15.7%
Latest one-year revenue growth.
EPS growth
4.0%
Latest one-year earnings-per-share growth.
Free-cash-flow growth
26.2%
Latest one-year free-cash-flow growth.
Piotroski F-score
7/9
Nine-point accounting-strength checklist.

Shareholder return and balance sheet

Cash returned to owners and financial leverage.

Dividend yield
-
Cash dividends relative to market value.
Buyback yield
2.8%
Net share repurchases relative to market value.
Shareholder yield
2.8%
Dividend yield plus net buyback yield.
Net debt / EBITDA
-0.6x
Balance-sheet debt relative to operating cash earnings.
05 · Ownership, options, and sentiment

What other market participants are doing

Options, insider transactions, market sentiment, and activity-pressure signals can confirm or challenge the price story. None should be used alone.

Options positioningBullish

FTNT shows bullish options pressure with a 49/100 conviction score, put-call volume ratio of 0.54, expected move of 5.8%, and Sharemaestro trend signal active.

Conviction49/100
Expected move5.8%
Put/call volume0.54
Pressure28
Speculation41
Volatility59
Trend agreement87
Open options detail
Insider activity6 / 14

6 acquisitions and 14 disposals in the latest 180-day insider tape.

Acquisitions / disposals over the latest 180 days. Insider activity is context, not a stand-alone signal.
News sentiment59/100

Weighted news tone is neutral across 53 relevant articles.

28 positive · 24 neutral · 1 negative
Patient CapitalQuiet

Activity-pressure buy-signal evidence highlights potential institutional accumulation windows.

No recent buy signal
06 · Catalysts and risk

What can move the shares—and how volatile the path has been

Event timing, options-implied movement, drawdown, and weekly return distribution frame the risk around the current setup.

Next earnings3dNext report is scheduled for 05 Aug 2026; event risk rises as the date approaches.
Options expected move5.8%Nearest-chain priced movement where available.
52-week drawdown-4.9%Distance below the 52-week high.
13-week volatility8.6%Standard deviation of weekly returns.

Weekly gains and losses

Latest 26 completed weeks

Each bar is one week. Gains rise above the zero line; losses fall below it. Taller bars mean a larger weekly move.

Weeks higher18 of 268 weeks finished lower.
Best week+32.2%Week of 8 May.
Worst week-7.1%Week of 10 Apr.
Latest week+6.3%Week of 31 Jul.

Shape of recent returns

Strong gains9
Modest gains9
Flat weeks0
Modest losses5
Sharp losses3
Recent vol8.6%13-week weekly-return volatility.
Base vol6.8%52-week weekly-return volatility.
Up/down split34/18Count of positive and negative weeks in the 52-week window.
Average skew4.3% / -4.7%Average positive week versus average negative week.
07 · Sector and peer context

Is this stock leading—or simply moving with its group?

Sector and industry breadth distinguish company-specific strength from a broad group move.

08 · Evidence and weekly data

The underlying research record

Every top-level statement above should be traceable to a stored market, fundamental, event, or positioning observation.

Weekly tape63/100

Trend, activity pressure, participation, and risk combine to a 63/100 tape read.

 Indicator analysis83/100

Latest 12-week confirmation: trend 12/12, activity pressure 12/12, relative leadership 12/12.

Activity pressure 0.99; 17 reversal markers Factors56/100

O'Shaughnessy factor stack blends value, quality, momentum, and confidence.

Buyback Yield rank 19 Patient CapitalQuiet

Activity-pressure buy-signal evidence highlights potential institutional accumulation windows.

No recent buy signal Options71/100

FTNT shows bullish options pressure with a 49/100 conviction score, put-call volume ratio of 0.54, expected move of 5.8%, and Sharemaestro trend signal active.

Bullish · Call-side pressure · Expected move 5.8% Sentiment59/100

Weighted news tone is neutral across 53 relevant articles.

HSBC Adjusts Price Target on Fortinet to $107 From $102, Maintains Reduce Rating Insiders6 / 14

6 acquisitions and 14 disposals in the latest 180-day insider tape.

 Earnings3d

Next report is scheduled for 05 Aug 2026; event risk rises as the date approaches.

 Research flow5 items

2 recent research articles and 3 Market Watch posts are available.
WeekCloseReturnTrend LineFair ValuePressureLeadershipVolumeTrend
31 Jul 2026161.9 USD6.3%109.0 USD84.08 USD1.2354.7440.3MOn
24 Jul 2026152.4 USD-5.7%106.2 USD83.41 USD1.1747.4921.3MOn
17 Jul 2026161.6 USD2.6%103.8 USD82.92 USD1.3754.6623.7MOn
10 Jul 2026157.5 USD0.8%101.1 USD82.39 USD1.4745.2823.9MOn
3 Jul 2026156.2 USD3.2%98.57 USD81.89 USD1.6047.4522.7MOn
26 Jun 2026151.3 USD4.6%96.26 USD81.36 USD1.7944.5932.0MOn
19 Jun 2026144.7 USD-1.1%93.92 USD80.88 USD1.8432.4836.5MOn
12 Jun 2026146.3 USD1.1%91.73 USD80.41 USD1.9137.5931.9MOn
5 Jun 2026144.7 USD4.9%89.59 USD79.94 USD1.9939.4035.3MOn
29 May 2026138.0 USD3.0%87.50 USD79.44 USD2.0927.0627.1MOn
22 May 2026133.9 USD9.1%85.78 USD79.00 USD2.0326.7428.7MOn
15 May 2026122.8 USD7.6%84.17 USD78.57 USD1.8417.3528.2MOn
8 May 2026114.1 USD32.2%82.86 USD78.23 USD1.518.2745.5MOn
1 May 202686.29 USD2.3%81.82 USD77.94 USD0.93-14.0422.5MOff
How to use this report

This is a completed-week research summary. It explains the available evidence and its conflicts; it does not predict a guaranteed outcome or replace your own risk assessment. Fundamental figures may refer to an earlier financial reporting period, which is shown above.