Is FTNT Stock Worth Buying at a Premium P/S or Should Investors Wait?

Fortinet (FTNT) has emerged as a strong cybersecurity performer with 98% YTD gains, trading at a premium 13.16x forward P/S ratio. Despite the high valuation, the company's raised 2026 guidance, 26% revenue growth, 33% billings expansion, and AI-security platform innovations suggest fundamentals justify the premium. Analysts recommend buying now rather than waiting for a pullback, citing durable growth drivers and competitive differentiation through its AI-native Security Fabric.