Fortinet (NASDAQ:FTNT) Issues FY 2026 Earnings Guidance

Fortinet (NASDAQ:FTNT) issued an update on its FY 2026 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.100-3.160 for the period, compared to the consensus EPS estimate of 2.910. The company issued revenue guidance of $7.7 billion-$7.9 billion, compared to the consensus revenue estimate of $7.6 billion. Fortinet also updated its Q2 2026 guidance to 0.720-0.760 EPS.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FTNT. Evercore set a $80.00 price target on Fortinet in a research report on Friday, February 6th. Stifel Nicolaus set a $85.00 price objective on shares of Fortinet in a research note on Wednesday, March 11th. Wells Fargo & Company assumed coverage on shares of Fortinet in a report on Tuesday, March 3rd. They set an “underweight” rating and a $64.00 target price for the company. Jefferies Financial Group set a $90.00 price target on shares of Fortinet in a report on Friday, February 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $83.00 price target on shares of Fortinet in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-one have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.38.

Fortinet Price Performance

Shares of FTNT traded up $0.03 during trading hours on Wednesday, reaching $89.95. 7,797,376 shares of the company traded hands, compared to its average volume of 6,444,279. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $65.85 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 3.06 and a beta of 0.92. Fortinet has a fifty-two week low of $70.12 and a fifty-two week high of $108.77. The stock has a fifty day simple moving average of $82.03 and a 200 day simple moving average of $81.76.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.21. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. 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 predict that Fortinet will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortinet news, CEO Ken Xie sold 5,355 shares of Fortinet stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $88.90, for a total value of $476,059.50. Following the completion of the sale, the chief executive officer directly owned 52,978,004 shares of the company’s stock, valued at approximately $4,709,744,555.60. The trade was a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, VP Michael Xie sold 2,478 shares of Fortinet stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $88.89, for a total transaction of $220,269.42. Following the completion of the sale, the vice president directly owned 9,927,517 shares of the company’s stock, valued at $882,456,986.13. The trade was a 0.02% decrease in their ownership of the stock. 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. Insiders own 18.00% of the company’s stock.

Key Headlines Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q1 results beat expectations: EPS of $0.82 vs. $0.61 consensus and revenue $1.85B vs. $1.73B; strong margins, 31% GAAP operating margin (36% non‑GAAP), record operating & free cash flow, and 31% billings growth — a clear fundamental upside driver. Fortinet Reports Strong First Quarter 2026 Financial Results
• Positive Sentiment: Company raised guidance: Q2 EPS guide of $0.72–$0.76 vs. street $0.68 and FY26 EPS guide of $3.10–$3.16 vs. consensus ~2.91 — improves the outlook and justifies re-rating if execution continues. Q1 Press Release / Slides
• Positive Sentiment: Product catalyst: launched FortiGate G-series (3500G/400G) positioned to secure AI workloads — expands TAM exposure to AI/large‑scale data center security, a thematic growth tailwind. FortiGate G Series Announcement
• Positive Sentiment: BMO boosted its forecast/price target, supporting near‑term buy interest from institutions and some buy‑side reallocation into the name. BMO Positive Forecast for FTNT
• Neutral Sentiment: Insider sales disclosed (CEO Ken Xie and VP Michael Xie) executed under Rule 10b5‑1 to cover tax withholding on vested awards — expected but worth monitoring for signaling. SEC Form 4 — Ken Xie
• Neutral Sentiment: Some sell‑side views remain mixed (Barclays/stick to hold), so consensus is not uniformly bullish; near‑term moves may be volatile around guidance execution. Barclays Hold Rating
• Neutral Sentiment: Sector strength (CrowdStrike and AI security demand) is a positive backdrop but also raises valuation comparisons and expectations for continued high growth. CrowdStrike Stock Article
• Negative Sentiment: Some institutional trimming and a cluster of Hold/Sell analyst stances could cap upside if upcoming quarters fall short of raised guidance — execution and gross margin sustainability are key risk points. QuiverQuant Institutional Flows

Hedge Funds Weigh In On Fortinet

Several institutional investors have recently added to or reduced their stakes in the business. Bison Wealth LLC purchased a new position in Fortinet during the fourth quarter worth about $585,000. Brighton Jones LLC grew its holdings in Fortinet by 2.2% in the 4th quarter. Brighton Jones LLC now owns 10,327 shares of the software maker’s stock valued at $976,000 after buying an additional 221 shares during the period. MUFG Securities EMEA plc acquired a new position in shares of Fortinet during the 2nd quarter valued at about $198,000. Keystone Financial Group acquired a new position in shares of Fortinet during the 3rd quarter valued at about $165,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of 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 worth $138,000 after acquiring an additional 1,709 shares during the period. 83.71% of the stock is currently 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.