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FTNT vs SHOP
Which Stock Would AI Choose? Fortinet (FTNT) vs. Shopify (SHOP) Stock Comparison
Key Takeaways
- Fortinet (FTNT) delivered robust Q2 2026 results with 26% revenue growth and raised full-year guidance, driven by demand for AI-enhanced cybersecurity solutions.
- Shopify (SHOP) reported 34% revenue growth in Q2 2026 alongside strong gross merchandise volume expansion, supported by AI commerce tools, though shares have declined in recent market activity.
- FTNT has shown stronger relative price momentum in recent weeks compared with SHOP, which experienced a notable pullback amid broader market conditions.
- Both companies operate in high-growth technology sectors, with FTNT focused on cybersecurity and networking convergence while SHOP emphasizes e-commerce platform enablement and merchant solutions.
- Valuation multiples remain elevated for both stocks, reflecting investor expectations for sustained innovation and market expansion in their respective fields.
- Recent corporate developments, including Fortinet’s new innovation hub and Shopify’s acquisition activity, underscore ongoing strategic positioning without altering core business trajectories.
Introduction
This comparison examines Fortinet (FTNT) and Shopify (SHOP), two technology companies with distinct yet complementary exposures within the broader information technology sector. Fortinet specializes in cybersecurity and secure networking, while Shopify provides an e-commerce platform serving merchants of varying sizes. The analysis appeals to traders and investors seeking to evaluate relative performance, growth drivers, and market positioning between a cybersecurity leader and an e-commerce infrastructure provider. It highlights observable factors such as recent financial results, price behavior, and sector-specific catalysts to inform a balanced view of how these equities have responded to current market conditions.
Fortinet (FTNT) Overview and Recent Performance
Fortinet develops cybersecurity solutions that integrate networking and security functions, serving enterprises across industries. In recent market activity, the stock has benefited from strong second-quarter 2026 results, including revenue of $2.05 billion, up 26% year over year, with product revenue surging 52%. Billings grew 33%, prompting the company to raise its full-year 2026 revenue guidance. Positive sentiment has been supported by demand for high-performance FortiGate solutions amid AI infrastructure needs and recognition in industry reports such as the Gartner Magic Quadrant. Recent weeks have also featured expansion initiatives, including a new company-owned innovation hub in New York City. These elements have contributed to sustained upward price movement, with the shares trading near multi-month highs despite occasional daily fluctuations.
Shopify (SHOP) Overview and Recent Performance
Shopify operates a commerce platform that enables businesses to build and manage online stores, with additional merchant solutions including payments and logistics. The company posted solid second-quarter 2026 results, with revenue reaching $3.58 billion, a 34% increase year over year, alongside 32% growth in gross merchandise volume. Management guided for continued low-thirties percentage revenue growth in the third quarter. In recent market activity, however, the stock has experienced downward pressure, declining approximately 12% over the past month amid broader sector rotations. Strategic moves such as the acquisition of Tailwind Labs in September 2026 aim to enhance development capabilities. AI-driven features continue to feature in product updates, supporting merchant adoption, while the company maintains a debt-free balance sheet with substantial cash reserves.
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Head-to-Head Comparison
Fortinet and Shopify differ markedly in business models: FTNT derives revenue primarily from cybersecurity hardware, software subscriptions, and services with high gross margins around 80%, whereas SHOP generates income from subscription solutions and merchant services with gross margins near 48%. Growth drivers for FTNT center on AI security demand and platform consolidation, while SHOP benefits from e-commerce expansion and AI commerce tools. Recent momentum favors FTNT, which posted stronger post-earnings price appreciation, compared with SHOP’s recent pullback. Risk factors include FTNT’s exposure to enterprise spending cycles and competitive pressures in cybersecurity, versus SHOP’s sensitivity to consumer spending, merchant acquisition costs, and competition in e-commerce infrastructure. Sector exposure places both in information technology, yet FTNT aligns more closely with defensive cybersecurity spending and SHOP with discretionary digital commerce trends. Market sentiment reflects premium valuations for both, tempered by execution risks and macroeconomic influences on technology spending.
Tickeron AI Verdict
Based on observable factors such as trend consistency following earnings beats, margin stability, and alignment with persistent AI-related catalysts, Tickeron’s AI models currently assign a higher probabilistic preference to Fortinet (FTNT) over Shopify (SHOP) in the near term. FTNT’s recent billings acceleration and guidance raises provide measurable support for continued relative strength, while SHOP’s pullback introduces greater short-term uncertainty despite solid underlying growth. This assessment remains probabilistic and subject to evolving market data rather than a definitive recommendation.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is FTNT is a Hold and SHOP is a StrongBuy.
FTNT | SHOP | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 90 | 74 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 92 Overvalued | 85 Overvalued | |
PROFIT vs RISK RATING 1..100 | 11 | 100 | |
SMR RATING 1..100 | 12 | 55 | |
PRICE GROWTH RATING 1..100 | 8 | 43 | |
P/E GROWTH RATING 1..100 | 8 | 25 | |
SEASONALITY SCORE 1..100 | 50 | n/a |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
SHOP's Valuation (85) in the Information Technology Services industry is in the same range as FTNT (92) in the Computer Communications industry. This means that SHOP’s stock grew similarly to FTNT’s over the last 12 months.
FTNT's Profit vs Risk Rating (11) in the Computer Communications industry is significantly better than the same rating for SHOP (100) in the Information Technology Services industry. This means that FTNT’s stock grew significantly faster than SHOP’s over the last 12 months.
FTNT's SMR Rating (12) in the Computer Communications industry is somewhat better than the same rating for SHOP (55) in the Information Technology Services industry. This means that FTNT’s stock grew somewhat faster than SHOP’s over the last 12 months.
FTNT's Price Growth Rating (8) in the Computer Communications industry is somewhat better than the same rating for SHOP (43) in the Information Technology Services industry. This means that FTNT’s stock grew somewhat faster than SHOP’s over the last 12 months.
FTNT's P/E Growth Rating (8) in the Computer Communications industry is in the same range as SHOP (25) in the Information Technology Services industry. This means that FTNT’s stock grew similarly to SHOP’s over the last 12 months.
| FTNT | SHOP | |
|---|---|---|
| RSI ODDS (%) | N/A | N/A |
| Stochastic ODDS (%) | 2 days ago 68% | 2 days ago 75% |
| Momentum ODDS (%) | 2 days ago 70% | 2 days ago 89% |
| MACD ODDS (%) | 2 days ago 68% | 2 days ago 83% |
| TrendWeek ODDS (%) | 2 days ago 70% | 2 days ago 82% |
| TrendMonth ODDS (%) | 2 days ago 70% | 2 days ago 75% |
| Advances ODDS (%) | 12 days ago 70% | 5 days ago 82% |
| Declines ODDS (%) | 2 days ago 63% | 9 days ago 74% |
| BollingerBands ODDS (%) | 2 days ago 72% | 2 days ago 90% |
| Aroon ODDS (%) | 2 days ago 70% | 2 days ago 82% |
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is overvalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
FTNT’s FA Score shows that 4 FA rating(s) are green while SHOP’s FA Score has 1 green FA rating(s).
- FTNT’s FA Score: 4 green, 1 red.
- SHOP’s FA Score: 1 green, 4 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
FTNT’s TA Score shows that 6 TA indicator(s) are bullish while SHOP’s TA Score has 6 bullish TA indicator(s).
- FTNT’s TA Score: 6 bullish, 3 bearish.
- SHOP’s TA Score: 6 bullish, 4 bearish.
Price Growth
FTNT (@Computer Communications) experienced а +2.13% price change this week, while SHOP (@Packaged Software) price change was +10.70% for the same time period.
The average weekly price growth across all stocks in the @Computer Communications industry was +0.26%. For the same industry, the average monthly price growth was -3.59%, and the average quarterly price growth was +26.61%.
The average weekly price growth across all stocks in the @Packaged Software industry was -0.18%. For the same industry, the average monthly price growth was -6.40%, and the average quarterly price growth was +10.15%.
Reported Earning Dates
FTNT is expected to report earnings on Oct 29, 2026.
SHOP is expected to report earnings on Oct 22, 2026.
Industries' Descriptions
@Computer Communications (+0.26% weekly)Computer communications industry develops technology that allows computing devices to exchange data with each other using connections/data links between nodes. Common types of computer network include Cloud (IAN), Internet, Wide (WAN, Local (LAN)/Wireless(WLAN) etc. The industry is an ever-more important part of technology, and is set to become even bigger as the Internet of Things (IoT) rapidly forays into the various aspects of our lives. Cisco Systems, Inc., Palo Alto Networks, Inc. and Arista Networks, Inc., Fortinet, Inc. are some of the major computer communications companies.
@Packaged Software (-0.18% weekly)Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.
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FTNT and
Correlation & Price change
A.I.dvisor indicates that over the last year, FTNT has been closely correlated with PANW. These tickers have moved in lockstep 76% of the time. This A.I.-generated data suggests there is a high statistical probability that if FTNT jumps, then PANW could also see price increases.
| Ticker / NAME | Correlation To FTNT | 1D Price Change % | ||
|---|---|---|---|---|
| FTNT | 100% | -2.92% | ||
| PANW - FTNT | 76% Closely correlated | -3.89% | ||
| CRWD - FTNT | 74% Closely correlated | -2.90% | ||
| SHOP - FTNT | 65% Loosely correlated | -2.00% | ||
| DT - FTNT | 64% Loosely correlated | -1.24% | ||
| OKTA - FTNT | 64% Loosely correlated | -5.54% | ||
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SHOP and
Correlation & Price change
A.I.dvisor indicates that over the last year, SHOP has been closely correlated with COIN. These tickers have moved in lockstep 67% of the time. This A.I.-generated data suggests there is a high statistical probability that if SHOP jumps, then COIN could also see price increases.
| Ticker / NAME | Correlation To SHOP | 1D Price Change % | ||
|---|---|---|---|---|
| SHOP | 100% | -2.00% | ||
| COIN - SHOP | 67% Closely correlated | -2.06% | ||
| CLSK - SHOP | 64% Loosely correlated | -2.17% | ||
| RIOT - SHOP | 62% Loosely correlated | -2.04% | ||
| FTNT - SHOP | 62% Loosely correlated | -2.92% | ||
| PAYO - SHOP | 58% Loosely correlated | +0.56% | ||
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