Fortinet (NASDAQ:FTNT) Updates FY 2026 Earnings Guidance

Posted by Brian Himes on Jul 31st, 2026

Fortinet (NASDAQ:FTNT – Get Free Report) issued an update on its FY 2026 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.410-3.470 for the period, compared to the consensus earnings per share 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.

Fortinet Price Performance

FTNT stock traded up $2.04 during trading hours on Friday, hitting $156.29. 1,142,646 shares of the stock traded hands, compared to its average volume of 6,409,461. 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 50-day simple moving average of $149.94 and a 200 day simple moving average of $108.72. Fortinet has a one year low of $70.12 and a one year high of $170.35. The company has a market cap of $114.50 billion, a P/E ratio of 55.06, a P/E/G ratio of 4.17 and a beta of 1.09.

Fortinet (NASDAQ:FTNT – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.15. Fortinet had a net margin of 28.17% and a return on equity of 218.88%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter 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. Equities analysts forecast that Fortinet will post 2.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley restated a “positive” rating and issued a $136.00 target price (up from $133.00) on shares of Fortinet in a report on Thursday. Wells Fargo & Company set a $135.00 target price on shares of Fortinet and gave the stock an “underweight” rating in a research report on Thursday. Arete Research set a $104.00 price objective on shares of Fortinet and gave the stock a “buy” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Fortinet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Finally, Truist Financial set a $183.00 price target on Fortinet and gave the company a “buy” rating in a report on Tuesday, July 21st. Two equities 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $150.91.

View Our Latest Research Report on FTNT

Insider Buying and Selling

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

Trending Headlines about Fortinet

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.

Hedge Funds Weigh In On Fortinet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wexford Capital LP purchased a new stake in shares of Fortinet in the third quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the third quarter valued at about $28,000. Quarry LP acquired a new position in Fortinet during the third quarter worth about $33,000. Swiss RE Ltd. acquired a new stake in shares of Fortinet during the 4th quarter valued at approximately $38,000. Finally, GW&K Investment Management LLC grew its holdings in shares of Fortinet by 31.4% in the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock worth $41,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

Fortinet Company Profile

(Get Free Report)

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.