- Prev close
- $122.51
- Day range
- $118.62 – $126.46
FTNT’s -7.3% move looks stock-specific against a -1.8% S&P 500 and a -3.5% Nasdaq 100, with the day’s sharp low-to-close slide more notable than the broad tape. The core business is still growing at +20.2% revenue, but a 43.7 PE and 35.6 forward PE mean the setup is priced for strength and more sensitive to any disappointment.
FTNT
FORTINET INC
As of Nov 2, 2026
58/100
Worth keeping an eye onHealth ScorePrimary driver
The move looks stock-specific, not market-wide. FTNT closed down -7.3% while the S&P 500 fell -1.8% and the Nasdaq 100 fell -3.5%; that gap is too wide to attribute mainly to the tape. The intraday path also mattered: it opened at $135.875, printed a high of $135.8925, then slid to a low of $125.8 and closed at $126.21, which reads as a steady selloff rather than a broad-market washout. No sector peer move is provided here, so the cleanest read is company-specific pressure.
Volatility check
This is more than ordinary noise, but it is not obviously tied to deteriorating fundamentals. The business still shows +20.2% revenue growth (TTM), +20.5% revenue growth in the latest quarter, and +26.5% EPS growth (TTM), with TTM margins of 79.8% gross, 33.0% operating, and 29.0% net. That is a strong operating profile, yet the valuation is rich at 43.7 PE, 35.6 forward PE, and 2.47 PEG — PEG is P/E divided by growth, so it only has meaning when growth is positive, which it is here. In other words, the stock is priced for sustained execution, so a sharp move can happen without a business break, but the decline is still larger than what the beta of 1.04 would imply on its own.
Earnings outlook
The next earnings date is not available this period, so there is no dated preview to anchor to. What the market will focus on is whether FTNT can sustain the current growth profile: +20.2% revenue growth (TTM), +20.5% latest-quarter revenue growth, and +26.5% EPS growth (TTM), while protecting 79.8% gross margin and 33.0% operating margin. The available facts do not give prior post-earnings reaction data, so I cannot characterize its typical print response from this set alone. The key questions are execution on security demand, whether margins stay near the current 29.0% net level, and whether the premium valuation at 43.7 PE and 35.6 forward PE is still justified by guidance and product momentum.
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