Fortinet (NASDAQ:FTNT) Releases FY 2026 Earnings Guidance

Fortinet (NASDAQ:FTNT) issued an update on its FY 2026 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.100-3.160 for the period, compared to the consensus estimate of 2.910. The company issued revenue guidance of $7.7 billion-$7.9 billion, compared to the consensus revenue estimate of $7.6 billion. Fortinet also updated its Q2 2026 guidance to 0.720-0.760 EPS.

Fortinet Stock Performance

NASDAQ FTNT traded up $0.03 during trading hours on Wednesday, hitting $89.95. 7,930,779 shares of the stock were exchanged, compared to its average volume of 6,451,625. The company has a market cap of $65.85 billion, a price-to-earnings ratio of 37.02, a price-to-earnings-growth ratio of 3.06 and a beta of 0.92. Fortinet has a 12-month low of $70.12 and a 12-month high of $108.77. The stock has a 50-day moving average of $82.03 and a 200 day moving average of $81.76. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.21. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. As a group, equities research analysts forecast that Fortinet will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

FTNT has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a report on Friday, February 6th. Freedom Capital cut shares of Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Compass Point set a $100.00 target price on shares of Fortinet in a report on Monday. TD Cowen raised shares of Fortinet from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, January 23rd. Finally, Robert W. Baird set a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-one have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $88.38.

Insider Activity at Fortinet

In other news, CEO Ken Xie sold 5,355 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the sale, the chief executive officer directly owned 52,978,004 shares in the company, valued at $4,709,744,555.60. This represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Xie sold 2,478 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the sale, the vice president owned 9,927,517 shares in the company, valued at $882,456,986.13. This represents a 0.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.00% of the stock is owned by corporate insiders.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q1 results beat expectations: EPS of $0.82 vs. $0.61 consensus and revenue $1.85B vs. $1.73B; strong margins, 31% GAAP operating margin (36% non?GAAP), record operating & free cash flow, and 31% billings growth — a clear fundamental upside driver. Fortinet Reports Strong First Quarter 2026 Financial Results
• Positive Sentiment: Company raised guidance: Q2 EPS guide of $0.72–$0.76 vs. street $0.68 and FY26 EPS guide of $3.10–$3.16 vs. consensus ~2.91 — improves the outlook and justifies re-rating if execution continues. Q1 Press Release / Slides
• Positive Sentiment: Product catalyst: launched FortiGate G-series (3500G/400G) positioned to secure AI workloads — expands TAM exposure to AI/large?scale data center security, a thematic growth tailwind. FortiGate G Series Announcement
• Positive Sentiment: BMO boosted its forecast/price target, supporting near?term buy interest from institutions and some buy?side reallocation into the name. BMO Positive Forecast for FTNT
• Neutral Sentiment: Insider sales disclosed (CEO Ken Xie and VP Michael Xie) executed under Rule 10b5?1 to cover tax withholding on vested awards — expected but worth monitoring for signaling. SEC Form 4 — Ken Xie
• Neutral Sentiment: Some sell?side views remain mixed (Barclays/stick to hold), so consensus is not uniformly bullish; near?term moves may be volatile around guidance execution. Barclays Hold Rating
• Neutral Sentiment: Sector strength (CrowdStrike and AI security demand) is a positive backdrop but also raises valuation comparisons and expectations for continued high growth. CrowdStrike Stock Article
• Negative Sentiment: Some institutional trimming and a cluster of Hold/Sell analyst stances could cap upside if upcoming quarters fall short of raised guidance — execution and gross margin sustainability are key risk points. QuiverQuant Institutional Flows

Institutional Trading of Fortinet

Large investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its position in Fortinet by 76.2% during the fourth quarter. AQR Capital Management LLC now owns 4,109,016 shares of the software maker’s stock worth $326,297,000 after acquiring an additional 1,777,115 shares during the last quarter. Invesco Ltd. boosted its position in Fortinet by 17.0% during the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock worth $909,453,000 after acquiring an additional 1,568,337 shares during the last quarter. Marshall Wace LLP boosted its position in Fortinet by 1,802.9% during the fourth quarter. Marshall Wace LLP now owns 1,006,400 shares of the software maker’s stock worth $79,918,000 after acquiring an additional 1,065,500 shares during the last quarter. Two Sigma Investments LP boosted its position in Fortinet by 229.3% during the third quarter. Two Sigma Investments LP now owns 1,323,411 shares of the software maker’s stock worth $111,272,000 after acquiring an additional 921,480 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in Fortinet during the fourth quarter worth approximately $72,417,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.