Fortinet (NASDAQ:FTNT) Issues FY 2026 Earnings Guidance

Fortinet (NASDAQ:FTNT) updated its FY 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.940-3.000 for the period, compared to the consensus estimate of 2.790. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.5 billion. Fortinet also updated its Q1 2026 guidance to 0.590-0.630 EPS.

Fortinet Stock Performance

FTNT stock traded down $2.19 during trading on Thursday, hitting $78.93. The company had a trading volume of 12,671,872 shares, compared to its average volume of 6,860,309. The firm has a market cap of $58.70 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 2.74 and a beta of 1.06. Fortinet has a 1-year low of $70.12 and a 1-year high of $114.82. The firm has a 50-day moving average price of $80.37 and a 200-day moving average price of $83.08. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 118.27% and a net margin of 28.58%.The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, analysts expect that Fortinet will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FTNT. Robert W. Baird lowered their target price on shares of Fortinet from $90.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Royal Bank Of Canada reduced their price objective on shares of Fortinet from $95.00 to $85.00 and set a “sector perform” rating for the company in a research report on Thursday, November 6th. Morgan Stanley reiterated an “underweight” rating and set a $70.00 target price (up previously from $66.00) on shares of Fortinet in a research report on Thursday, December 18th. Truist Financial set a $88.00 price target on Fortinet in a report on Tuesday, January 20th. Finally, Barclays set a $88.00 price objective on Fortinet in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Fortinet currently has an average rating of “Hold” and an average price target of $90.48.

Insiders Place Their Bets

In related news, VP Michael Xie sold 343,106 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ken Xie sold 175,737 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the transaction, the chief executive officer owned 51,396,385 shares of the company’s stock, valued at $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is currently owned by insiders.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q4 beat: Fortinet reported $0.81 EPS vs. $0.74 consensus and revenue of $1.91B vs. ~$1.86B estimate — a classic earnings catalyst that drove an initial rally. Zacks: FTNT Surpasses Q4
• Positive Sentiment: Stronger commercial metrics: billings grew ~18% to $2.37B, product revenue +20% and unified SASE billings surged ~40% — supports recurring?revenue growth narrative. Financial Post: Q4 & FY Results
• Positive Sentiment: Raised FY?2026 outlook: company set EPS guidance of $2.94–3.00 vs. street ~2.79 — the stronger full?year guide is a constructive sign for longer?term earnings. (Company guidance reported in earnings release.) FTNT Press Release / Slide Deck
• Neutral Sentiment: Q1 guide mixed: Fortinet set Q1 EPS of $0.59–0.63 (vs. consensus ~0.62) and revenue band overlapping estimates — not a clean beat on the near?term quarterly guide, leaving room for investor debate.
• Neutral Sentiment: Analyst prep and previews ahead of print were constructive but cautious (Jefferies noted a modest beat potential but flagged 2026 uncertainty). Jefferies Preview
• Negative Sentiment: Insider selling: CEO Ken Xie and VP Michael Xie sold large blocks (combined tens of millions of dollars) — sizable insider sales often sap near?term sentiment even when insiders retain big stakes. Ken Xie SEC Filing Michael Xie SEC Filing
• Negative Sentiment: Analyst downgrades / growth reassessment: several firms pared 2026 expectations (including a Scotiabank downgrade), which pressured the stock as investors marked down forward growth. Yahoo: Downgrades & Reassessments

Hedge Funds Weigh In On Fortinet

A number of institutional investors have recently made changes to their positions in FTNT. Invesco Ltd. lifted its position in shares of Fortinet by 17.0% in the third quarter. Invesco Ltd. now owns 10,816,519 shares of the software maker’s stock valued at $909,453,000 after acquiring an additional 1,568,337 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Fortinet by 229.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,323,411 shares of the software maker’s stock valued at $111,272,000 after purchasing an additional 921,480 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Fortinet by 16.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,190,449 shares of the software maker’s stock valued at $437,022,000 after purchasing an additional 577,248 shares in the last quarter. State Street Corp boosted its stake in shares of Fortinet by 1.6% during the 3rd quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Fortinet by 59.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,201,925 shares of the software maker’s stock worth $101,058,000 after buying an additional 446,536 shares in the last quarter. 83.71% of the stock is 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.