Fortinet stock price could see upside if the company confirms Q2 margin improvements. Current options activity shows increased call volume targeting $76 strike for the next two weeks. Fortinet currently trades at a PE ratio of 33.7x. This is just below the Software industry average of 35.5x and is notably below the peer group average of 72.6x. However, to get a more tailored sense of value, Simply Wall St calculates a “Fair Ratio,” which represents what Fortinet’s PE should be given its unique growth, industry position, margins, and risk factors. For Fortinet, the Fair Ratio is 35.8x. This proprietary measure offers a deeper perspective than simply comparing to peers or sector norms because it weighs what really drives value for a specific company. 5 Hot Stocks to Buy Now: October's Top Picks With Major Upside Fortinet stock price climbed 0.5% in pre-market trading today after a cybersecurity breach in the sector heightened interest in defensive equity plays.