Fortinet (NASDAQ:FTNT) Updates Q3 2026 Earnings Guidance

Key Points

• Fortinet raised its Q3 2026 guidance to EPS of $0.83–$0.87 and revenue of $2.0–$2.1 billion, above consensus estimates of $0.75 EPS and $1.9 billion in revenue. Full-year 2026 EPS guidance was also increased to $3.41–$3.47.
• Shares rose 2.2% to $153.22 following the update. The company’s latest reported quarter also exceeded expectations, with EPS of $0.82 and revenue of $1.85 billion, up 20.1% year over year.
• Analyst sentiment remains mixed: Fortinet has a consensus “Hold” rating and a $123.61 average price target, while recent ratings included Bank of America’s “Buy” and several “Neutral” or “Hold” calls. Insiders sold roughly $43.4 million of stock during the last quarter.

Fortinet (NASDAQ:FTNT - Get Free Report) updated 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 EPS 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.

Fortinet Stock Up 2.2%

Shares of NASDAQ:FTNT traded up $3.24 during trading on Wednesday, hitting $153.22. The company's stock had a trading volume of 12,164,633 shares, compared to its average volume of 6,413,216. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $170.35. The business has a 50 day moving average price of $148.98 and a two-hundred day moving average price of $107.66. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. The company has a market capitalization of $112.26 billion, a PE ratio of 59.16, a P/E/G ratio of 4.14 and a beta of 1.09.

Fortinet (NASDAQ:FTNT - Get Free Report) last issued its earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The company's revenue was up 20.1% compared to the same quarter last year. 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, research analysts expect that Fortinet will post 2.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup restated a "neutral" rating and issued a $165.00 price objective (up from $115.00) on shares of Fortinet in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $100.00 target price on shares of Fortinet in a research note on Thursday, May 7th. Cantor Fitzgerald restated a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Fortinet in a research note on Thursday, July 23rd. William Blair reaffirmed a "market perform" rating on shares of Fortinet in a report on Tuesday, July 21st. Finally, Bank of America reissued a "buy" rating on shares of Fortinet in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-four have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, Fortinet has a consensus rating of "Hold" and a consensus target price of $123.61.

Insider Transactions at Fortinet

In related news, CEO Ken Xie sold 160,632 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the stock in a transaction on 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 $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

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 Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bison Wealth LLC acquired a new stake in shares of Fortinet in the fourth quarter worth $585,000. Brighton Jones LLC lifted its stake in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker's stock worth $976,000 after acquiring an additional 221 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Fortinet in the 2nd quarter worth about $198,000. Keystone Financial Group acquired a new stake in Fortinet during the 3rd quarter worth about $165,000. Finally, Aster Capital Management DIFC Ltd grew its stake in Fortinet by 5,512.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,740 shares of the software maker's stock valued at $138,000 after acquiring an additional 1,709 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other 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.

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