Fortinet (NASDAQ:FTNT) Updates Q3 2026 Earnings Guidance

Fortinet (NASDAQ:FTNT) issued an update on its third quarter 2026 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.830-0.870 for the period, compared to the consensus earnings per share estimate of 0.750. The company issued revenue guidance of $2.0 billion-$2.1 billion, compared to the consensus revenue estimate of $1.9 billion. Fortinet also updated its FY 2026 guidance to 3.410-3.470 EPS.

Fortinet Stock Up 1.3%

Shares of NASDAQ FTNT traded up $2.04 during mid-day trading on Friday, hitting $156.29. The company had a trading volume of 1,142,646 shares, compared to its average volume of 6,409,461. The company has a market capitalization of $114.50 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 4.17 and a beta of 1.09. The firm has a 50-day simple moving average of $149.94 and a two-hundred day simple moving average of $108.72. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. Fortinet has a one year low of $70.12 and a one year high of $170.35.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 218.88% and a net margin of 28.17%.The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. Fortinet’s revenue was up 25.6% on a year-over-year basis. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. On average, equities analysts expect that Fortinet will post 2.8 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FTNT shares. Stifel Nicolaus set a $175.00 target price on shares of Fortinet and gave the stock a “hold” rating in a report on Thursday. TD Cowen reaffirmed a “buy” rating and issued a $215.00 target price (up from $160.00) on shares of Fortinet in a report on Monday, July 13th. DZ Bank lowered Fortinet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Tuesday, May 19th. Mizuho set a $125.00 target price on Fortinet and gave the stock an “underperform” rating in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $185.00 price objective (up from $165.00) on shares of Fortinet in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-three have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $150.91.

Insider Buying and Selling at Fortinet

In other news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total value of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $146.44, for a total value of $572,141.08. Following the completion of the sale, the vice president owned 9,923,610 shares of the company’s stock, valued at approximately $1,453,213,448.40. This represents a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock worth $43,403,063 over the last quarter. Corporate insiders own 17.60% of the company’s stock.

Fortinet News Summary

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Strong Q2 results: Fortinet reported adjusted EPS of $0.90 versus the $0.75 consensus and revenue of $2.05 billion versus expectations of $1.89 billion. Revenue rose 26% year over year, while product revenue jumped 52% to $773 million and billings increased 33% to $2.37 billion. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Raised outlook: Fortinet lifted fiscal 2026 revenue guidance to $8.0 billion-$8.2 billion and EPS guidance to $3.41-$3.47, above Wall Street estimates. Third-quarter guidance also exceeded consensus, supporting expectations for sustained momentum. Fortinet raises revenue outlook after strong Q2 and new AI product push
• Positive Sentiment: Growth catalysts: Management highlighted demand for SASE, AI security, next-generation firewalls, infrastructure security and operational-technology offerings. Analysts also cited pricing tailwinds and strong execution. FTNT Q2 earnings call highlights SASE firewall growth
• Positive Sentiment: Higher analyst targets: BTIG raised its target to $203 with a Buy rating, Rosenblatt increased its target to $195 with a Buy rating, and Citigroup lifted its target to $185. Susquehanna also raised its target to $160, although it maintained a Neutral rating. Analysts boost forecasts on Fortinet following upbeat Q2 earnings
• Neutral Sentiment: Valuation concerns: William Blair, Citi and Susquehanna retained Hold or Neutral views, reflecting questions about how durable the recent growth and pricing benefits will be.
• Negative Sentiment: After a roughly 152% five-year gain, FTNT trades at a premium valuation, increasing the risk that further upside requires continued exceptional execution. Fortinet stock seems stretched following its five-year run
• Negative Sentiment: Reported insider-trading data showed substantial recent selling by executives, including the CEO and CTO, which may add a modest sentiment overhang.

Institutional Investors Weigh In On Fortinet

A number of hedge funds and other institutional investors have recently bought and sold shares of FTNT. Wexford Capital LP purchased a new position in shares of Fortinet during the 3rd quarter valued at $25,000. Palisade Asset Management LLC purchased a new stake in shares of Fortinet in the 3rd quarter worth about $28,000. Quarry LP bought a new position in Fortinet in the third quarter worth about $33,000. Swiss RE Ltd. purchased a new stake in Fortinet in the fourth quarter worth about $38,000. Finally, GW&K Investment Management LLC lifted its holdings in Fortinet by 31.4% in the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after buying an additional 123 shares during the period. Institutional investors own 83.71% of the company’s stock.

Fortinet Company Profile

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.