Fortinet (NASDAQ:FTNT) Issues Q3 2026 Earnings Guidance

Fortinet (NASDAQ:FTNT) issued an update on its third quarter 2026 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.830-0.870 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

FTNT has been the topic of several analyst reports. Scotiabank reaffirmed a “sector perform” rating and issued a $163.00 target price on shares of Fortinet in a report on Thursday. William Blair restated a “market perform” rating on shares of Fortinet in a research report on Tuesday, July 21st. BMO Capital Markets upped their price objective on shares of Fortinet from $170.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday. Rosenblatt Securities lifted their target price on Fortinet from $185.00 to $195.00 and gave the company a “buy” rating in a report on Thursday. Finally, Compass Point set a $100.00 price objective on Fortinet in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Fortinet has an average rating of “Hold” and a consensus price target of $148.94.

Fortinet Stock Up 0.3%

Fortinet stock traded up $0.46 during midday trading on Thursday, hitting $153.68. 6,761,242 shares of the company were exchanged, compared to its average volume of 6,417,197. The company has a market cap of $112.59 billion, a PE ratio of 59.56, a price-to-earnings-growth ratio of 4.08 and a beta of 1.09. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $170.35. The company’s fifty day moving average price is $149.45 and its 200-day moving average price is $108.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.15 and a quick ratio of 1.07.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The business’s quarterly 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, research analysts predict that Fortinet will post 2.8 EPS for the current fiscal year.

Insider Transactions at Fortinet

In related news, COO John Whittle sold 146,015 shares of Fortinet stock in a transaction dated 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 transaction, the chief operating officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ken Xie sold 160,632 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $145.58, for a total value of $23,384,806.56. Following the sale, the chief executive officer directly owned 52,972,372 shares in the company, valued at approximately $7,711,717,915.76. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company’s stock.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Quarterly results exceeded expectations. Fortinet reported adjusted EPS of $0.90 versus the $0.75 consensus estimate and revenue of approximately $2.05 billion versus expectations of $1.89 billion. Revenue grew 26% year over year, while GAAP net income rose to $606.3 million. Fortinet lifts annual revenue forecast on strong cybersecurity demand
• Positive Sentiment: Growth indicators were particularly strong. Product revenue jumped 52% to $773 million, billings increased 33% to $2.37 billion, and demand remained strong across AI infrastructure, SASE, firewall and operational-technology security offerings. Management highlighted expanding platform adoption and AI-security momentum. FTNT Q2 Earnings Call Highlights SASE Firewall Growth
• Positive Sentiment: Fortinet raised its outlook. Full-year 2026 revenue guidance was increased to roughly $8.02 billion-$8.18 billion, with EPS guidance of $3.41-$3.47, above the prior analyst consensus. Third-quarter revenue guidance of $2.01 billion-$2.10 billion and EPS guidance of $0.83-$0.87 also exceeded consensus estimates. Fortinet Reports Strong Second Quarter 2026 Financial Results
• Positive Sentiment: Analysts became more constructive. BTIG raised its price target to $203 from $186, Rosenblatt increased its target to $195 from $185, and BMO lifted its target to $185 from $170. BTIG and Rosenblatt maintained Buy ratings, reinforcing optimism about Fortinet’s growth trajectory.
• Neutral Sentiment: A broader rebound in technology stocks and Nasdaq futures provided a supportive market backdrop, although Fortinet’s gains were primarily driven by its earnings and guidance rather than general market conditions.
• Negative Sentiment: Valuation remains a risk. After a roughly 152% five-year run, FTNT trades at a premium valuation, requiring continued execution to justify further upside. Separately, reported insider activity showed substantial selling and no insider purchases over the past six months.

Institutional Investors Weigh In On Fortinet

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GW&K Investment Management LLC lifted its stake in Fortinet by 31.4% during the fourth quarter. GW&K Investment Management LLC now owns 515 shares of the software maker’s stock valued at $41,000 after purchasing an additional 123 shares during the last quarter. Fiduciary Trust Co lifted its position in shares of Fortinet by 1.2% during the 3rd quarter. Fiduciary Trust Co now owns 10,823 shares of the software maker’s stock valued at $910,000 after acquiring an additional 130 shares during the last quarter. Optimist Retirement Group LLC raised its position in shares of Fortinet by 2.9% during the third quarter. Optimist Retirement Group LLC now owns 4,888 shares of the software maker’s stock worth $411,000 after purchasing an additional 140 shares during the period. L2 Asset Management LLC lifted its holdings in shares of Fortinet by 5.1% during the third quarter. L2 Asset Management LLC now owns 2,992 shares of the software maker’s stock valued at $252,000 after purchasing an additional 145 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of Fortinet by 2.6% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 7,269 shares of the software maker’s stock valued at $577,000 after purchasing an additional 184 shares during the period. 83.71% of the stock is currently owned by institutional investors.

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.