How Is Fortinet’s Stock Performance Compared to Other Software – Infrastructure Stocks?

Valued at a market cap of $75.6 billion, Fortinet, Inc. (FTNT) offers cybersecurity and convergence of networking and security solutions worldwide. The Sunnyvale, California-based company provides an integrated platform, the Fortinet Security Fabric, that spans networking unified Secure Access Service Edge (SASE) and AI-driven security operations.

Companies valued at $10 billion or more are generally labeled as “large-cap” stocks, and Fortinet fits this criterion perfectly. The cybersecurity company develops and sells security solutions like firewalls and endpoint security. It also has the largest integrated portfolio of over 50 enterprise-grade products.

However, the company dipped 14.4% from its 52-week high of $114.82 recorded on Feb. 18. Shares of Fortinet have gained marginally in the last three months, surpassing the SPDR S&P Software & Services ETF’s (XSW) 19.2% decline.

In the longer term, shares of Fortinet have surged 37.5% over the past 52 weeks, outperforming XSW’s 5.9% return over the same time frame. Additionally, FTNT is ticked up 4% on a YTD basis, compared to the XSW’s 14.2% dip.

The stock mostly traded above its 50-day and 200-day moving averages but recently is trading below its both moving averages.

74Fortinet stock rose 2.8% following its Q4 2024 release on Feb. 6 because it exceeded Wall Street expectations. The total revenue increased 17% year-over-year to $1.7 billion, and earnings for $0.74 per share. In addition, the company was the only cybersecurity company to be ranked #7 on the Forbes Most Trusted Companies in America 2025 list. Looking ahead, FTNT expects revenue in the range of $1.5 billion to $1.6 billion for Q1 2025, and its EPS is expected to lie between $0.52 and $0.54.

Further, in comparison, rival Box, Inc. (BOX) fell behind FTNT. BOX shares climbed 6.2% over the past 52 weeks and lowered marginally on a YTD basis.

Despite FTNT’s outperformance relative to its peers, analysts remain cautiously optimistic about its prospects. Among the 38 analysts covering the stock, there is a consensus rating of “Moderate Buy,” and it is currently trading below the mean price target of $114.47.