Fortinet (NASDAQ:FTNT) Releases Q3 2026 Earnings Guidance

Fortinet (NASDAQ:FTNT) issued an update on its third quarter 2026 earnings guidance on Wednesday morning. The company provided 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.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FTNT shares. Robert W. Baird set a $120.00 price objective on shares of Fortinet in a research note on Tuesday, July 21st. Wall Street Zen cut shares of Fortinet from a “buy” rating to a “hold” rating in a research note on Sunday. Piper Sandler boosted their price target on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. BMO Capital Markets upped their price target on Fortinet from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, May 4th. Finally, Zacks Research upgraded Fortinet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-four have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $123.61.

Fortinet Price Performance

Shares of Fortinet stock traded up $3.24 during midday trading on Wednesday, reaching $153.22. The company had a trading volume of 12,164,633 shares, compared to its average volume of 6,413,216. 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 fifty day simple moving average of $148.98 and a 200 day simple moving average of $107.66. Fortinet has a 1-year low of $70.12 and a 1-year high of $170.35. The company has a market capitalization of $112.26 billion, a price-to-earnings ratio of 59.16, a price-to-earnings-growth ratio of 4.14 and a beta of 1.09.

Fortinet (NASDAQ:FTNT) last released its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. Fortinet had a return on equity of 160.08% and a net margin of 27.49%.The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $0.58 EPS. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. 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 2.8 earnings per share for the current year.

Insider Activity

In other news, VP Michael Xie sold 3,907 shares of the business’s 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 transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. The trade was a 0.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 completion of the sale, the chief executive officer owned 52,972,372 shares in the company, valued at $7,711,717,915.76. This represents a 0.30% decrease in their position. 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 sold a total of 318,387 shares of company stock valued at $43,403,063 in the last quarter. Company insiders own 17.60% of the company’s stock.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet is entering its upcoming earnings report with a record of 24 consecutive quarters without an earnings miss. Analysts and Zacks point to its strong earnings-surprise history and favorable estimate indicators as potential catalysts for another beat. Should You Buy Fortinet Stock Before July 29 Q2 Earnings?
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America maintaining a Buy rating. Bullish analysts see Fortinet’s security platform, execution and exposure to rising cyber threats supporting further growth. Bank of America Securities Remains a Buy on Fortinet
• Positive Sentiment: The company expanded its FortiGate G Series with the FortiGate 1200G and FortiSASE Outpost. The products combine ASIC-powered firewall protection with cloud-delivered SASE capabilities, potentially strengthening Fortinet’s competitive position and supporting enterprise demand. Fortinet Expands FortiGate G Series
• Positive Sentiment: Fortinet’s selection as a customer for Intel’s foundry business signals a relationship with a major semiconductor supplier and could support future product development or supply-chain flexibility. Intel Just Secured a Huge Customer for Its Foundry Business

Institutional Investors Weigh In On Fortinet

Institutional investors and hedge funds have recently bought and sold shares of the company. Wexford Capital LP bought a new stake in Fortinet during the 3rd quarter worth $25,000. Palisade Asset Management LLC bought a new position in Fortinet during the 3rd quarter worth approximately $28,000. Quarry LP acquired a new position in Fortinet in the third quarter valued at $33,000. Swiss RE Ltd. bought a new stake in Fortinet in the fourth quarter worth approximately $38,000. Finally, GW&K Investment Management LLC boosted its holdings in shares of Fortinet by 31.4% during the 4th 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 in the last quarter. Institutional investors own 83.71% of the company’s stock.

About Fortinet

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.