Fortinet (NASDAQ:FTNT) Releases FY 2026 Earnings Guidance

Fortinet (NASDAQ:FTNT) updated its FY 2026 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.410-3.470 for the period, compared to the consensus EPS estimate of 3.080. The company issued revenue guidance of $8.0 billion-$8.2 billion, compared to the consensus revenue estimate of $7.8 billion. Fortinet also updated its Q3 2026 guidance to 0.830-0.870 EPS.

Analyst Ratings Changes

A number of brokerages have recently commented on FTNT. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $160.00 price target on shares of Fortinet in a research note on Thursday, July 16th. BTIG Research boosted their target price on shares of Fortinet from $150.00 to $186.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Susquehanna increased their price target on Fortinet from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Citigroup restated a “neutral” rating and set a $165.00 target price (up from $115.00) on shares of Fortinet in a research report on Wednesday, July 22nd. Finally, Mizuho set a $125.00 price target on Fortinet and gave the company an “underperform” rating in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $123.61.

Fortinet Price Performance

FTNT traded up $3.24 during trading hours on Wednesday, hitting $153.22. The company’s stock had a trading volume of 12,108,690 shares, compared to its average volume of 6,413,216. The business’s 50-day moving average price is $148.98 and its 200-day moving average price is $107.66. Fortinet has a 12 month low of $70.12 and a 12 month high of $170.35. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock has a market cap of $112.26 billion, a price-to-earnings ratio of 59.16, a P/E/G ratio of 4.14 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $0.58 EPS. The business’s revenue was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Sell-side analysts expect that Fortinet will post 2.8 earnings per share for the current fiscal year.

Insider Activity at Fortinet

In related news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $128.41, for a total value of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total transaction of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 318,387 shares of company stock worth $43,403,063. Company insiders own 17.60% of the company’s stock.

Trending Headlines about Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet is entering its upcoming earnings report with a record of 24 consecutive quarters without an earnings miss. Analysts and Zacks point to its strong earnings-surprise history and favorable estimate indicators as potential catalysts for another beat. Should You Buy Fortinet Stock Before July 29 Q2 Earnings?
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America maintaining a Buy rating. Bullish analysts see Fortinet’s security platform, execution and exposure to rising cyber threats supporting further growth. Bank of America Securities Remains a Buy on Fortinet
• Positive Sentiment: The company expanded its FortiGate G Series with the FortiGate 1200G and FortiSASE Outpost. The products combine ASIC-powered firewall protection with cloud-delivered SASE capabilities, potentially strengthening Fortinet’s competitive position and supporting enterprise demand. Fortinet Expands FortiGate G Series
• Positive Sentiment: Fortinet’s selection as a customer for Intel’s foundry business signals a relationship with a major semiconductor supplier and could support future product development or supply-chain flexibility. Intel Just Secured a Huge Customer for Its Foundry Business

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FTNT. Brighton Jones LLC grew its position in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after acquiring an additional 221 shares during the last quarter. Bison Wealth LLC bought a new stake in shares of Fortinet during the fourth quarter worth $585,000. HUB Investment Partners LLC boosted its stake in shares of Fortinet by 29.1% during the second quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker’s stock valued at $560,000 after purchasing an additional 1,193 shares during the period. Diversify Advisory Services LLC bought a new position in shares of Fortinet in the second quarter worth about $1,136,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Fortinet by 27.4% in the second quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker’s stock worth $15,328,000 after purchasing an additional 31,202 shares during the last quarter. Institutional investors own 83.71% of the company’s stock.

About Fortinet

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.