Fortinet Reports Strong Q4 2025 Growth with 18% Billing Increase
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Should l Buy FTNT?
Source: seekingalpha
- Strong Financial Performance: Fortinet's Q4 billings increased by 18% to $2.37 billion, with total revenue growing 15% to $1.91 billion and product revenue rising 20% to $691 million, reflecting robust market demand and execution that solidifies its leadership in cybersecurity.
- Significant SASE Growth: Unified SASE billings surged 40%, representing 27% of total billings, driven by rising demand for cloud security solutions, indicating a strong competitive edge in the rapidly expanding SASE market.
- Optimistic Outlook: The company projects Q1 2026 billings between $1.77 billion and $1.87 billion, reflecting a 14% growth rate, with full-year billing targets set at $8.4 billion to $8.6 billion, showcasing confidence in sustained growth, particularly as product revenue accelerates.
- Enhanced Shareholder Returns: Fortinet announced a $1 billion increase in its stock repurchase authorization, with Q4 free cash flow reaching $577 million, demonstrating strong cash flow and commitment to shareholders, further boosting market confidence in its long-term growth potential.
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Analyst Views on FTNT
Wall Street analysts forecast FTNT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FTNT is 84.18 USD with a low forecast of 70.00 USD and a high forecast of 100.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
24 Analyst Rating
3 Buy
18 Hold
3 Sell
Hold
Current: 78.930
Low
70.00
Averages
84.18
High
100.00
Current: 78.930
Low
70.00
Averages
84.18
High
100.00
About FTNT
Fortinet, Inc. is engaged in cybersecurity, driving the convergence of networking and security. The Company’s integrated platform, Fortinet Security Fabric, spans secure networking, unified Secure Access Service Edge (SASE) and artificial intelligence (AI)-driven security operations (SecOps). Its products and services include FortiOS, FortiASIC, FortiCloud, FortiAI, FortiEndpoint, and OT Security. The FortiGuard Labs is a cybersecurity threat intelligence and research organization comprised of experienced threat hunters, researchers, analysts, engineers and data scientists who develop and utilize machine learning and AI technologies. FortiGuard and Other Security Services are a suite of AI-powered security capabilities that are integrated as part of the Fortinet Security Fabric to deliver coordinated detection and enforcement across the entire attack surface. FortiCare Technical Support Service is a per-device technical support service. It also operates Fortinet Training Institute.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- AMZN Stock Outlook: Analysts' opinions on Amazon (AMZN) stock indicate mixed views on its future growth potential, prompting investors to pay close attention to the latest ratings and recommendations when considering purchases.
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- Market Sentiment Reflection: Changes in analyst ratings not only affect individual stock performance but can also impact overall market sentiment, urging investors to consider these factors comprehensively for informed investment decisions.
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