What is Scotiabank's Estimate for Fortinet FY2027 Earnings?

Key Points

• Scotiabank raised its FY2027 EPS estimate for Fortinet to $3.42, up from $2.95, above the current full-year consensus estimate of $3.10.
• Scotiabank maintained a “Sector Perform” rating and a $163 price target, while analysts overall have a consensus “Hold” rating and an average target of $152.79.
• Fortinet recently exceeded quarterly expectations, reporting $0.90 EPS versus $0.75 anticipated and $2.05 billion in revenue, up 25.6% year over year; management guided to FY2026 EPS of $3.41–$3.47.

Fortinet, Inc. (NASDAQ:FTNT - Free Report) - Scotiabank boosted their FY2027 earnings per share estimates for Fortinet in a research note issued on Thursday, October 1st. Scotiabank analyst P. Colville now expects that the software maker will earn $3.42 per share for the year, up from their previous estimate of $2.95. Scotiabank has a "Sector Perform" rating and a $163.00 price target on the stock. The consensus estimate for Fortinet's current full-year earnings is $3.10 per share.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.15. Fortinet had a return on equity of 191.54% and a net margin of 28.17%.The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The firm's quarterly revenue was up 25.6% compared to the same quarter last year. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS.

A number of other research analysts have also recently commented on the stock. Wolfe Research set a $175.00 target price on shares of Fortinet in a research report on Thursday, July 30th. Mizuho set a $125.00 price target on shares of Fortinet and gave the company an "underperform" rating in a research report on Wednesday, July 15th. DZ Bank downgraded shares of Fortinet from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Susquehanna boosted their price target on shares of Fortinet from $115.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Finally, Rosenblatt Securities upped their price objective on shares of Fortinet from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $152.79.

Fortinet Stock Performance

NASDAQ FTNT opened at $191.27 on Wednesday. The stock has a fifty day simple moving average of $165.19 and a 200-day simple moving average of $137.32. The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32. The stock has a market cap of $140.34 billion, a PE ratio of 67.35, a P/E/G ratio of 3.44 and a beta of 1.03. Fortinet has a twelve month low of $73.55 and a twelve month high of $192.41.

Hedge Funds Weigh In On Fortinet

Several institutional investors have recently modified their holdings of FTNT. Burk Holdings LLC acquired a new position in Fortinet during the 2nd quarter worth $25,000. Dunhill Financial LLC acquired a new stake in Fortinet in the 2nd quarter valued at about $25,000. Cornerstone Financial Management LLC raised its position in Fortinet by 102.5% in the 2nd quarter. Cornerstone Financial Management LLC now owns 164 shares of the software maker's stock valued at $25,000 after purchasing an additional 83 shares in the last quarter. Timbuktu Capital Management LLC purchased a new position in shares of Fortinet in the 2nd quarter valued at about $31,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Fortinet by 53.6% during the second quarter. Elevation Wealth Partners LLC now owns 215 shares of the software maker's stock worth $33,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company's stock.

Insider Transactions at Fortinet

In other news, COO John Whittle sold 2,835 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total transaction of $478,377.90. Following the sale, the chief operating officer owned 96,987 shares of the company's stock, valued at approximately $16,365,586.38. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ken Xie sold 161,482 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total transaction of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company's stock, valued at approximately $8,616,486,029.52. The trade was 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 221,303 shares of company stock valued at $36,164,034. 17.60% of the stock is currently owned by corporate insiders.

Fortinet Company Profile

Fortinet, Inc develops and provides cybersecurity products and services for businesses, governments, and service providers. The company's portfolio is designed to protect networks, endpoints, applications, cloud environments, and operational technology from cyber threats.

Its offerings include FortiGate next-generation firewalls, FortiSwitch secure networking switches, FortiAP wireless access points, FortiClient endpoint security, and FortiSASE secure access service edge solutions. Fortinet also provides centralized management and analytics through products such as FortiManager and FortiAnalyzer, along with security operations, threat intelligence, and other subscription-based services through its FortiGuard portfolio.

Founded in 2000, Fortinet serves customers globally through direct sales, channel partners, and managed security service providers.

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