Fortinet (NASDAQ:FTNT) Issues Q1 2026 Earnings Guidance

Fortinet (NASDAQ:FTNT) updated its first quarter 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.590-0.630 for the period, compared to the consensus estimate of 0.620. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.7 billion. Fortinet also updated its FY 2026 guidance to 2.940-3.000 EPS.

Fortinet Price Performance

Shares of FTNT opened at $82.76 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. Fortinet has a twelve month low of $70.12 and a twelve month high of $114.82. The stock has a market capitalization of $61.54 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.73 and a beta of 1.06. The company has a 50 day moving average of $80.37 and a 200-day moving average of $82.88.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.86 billion. Fortinet had a net margin of 27.26% and a return on equity of 117.39%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. As a group, equities research analysts forecast that Fortinet will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on FTNT shares. Scotiabank lowered shares of Fortinet from a “sector outperform” rating to a “sector perform” rating and set a $85.00 price target on the stock. in a research report on Monday. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $90.00 target price (up from $85.00) on shares of Fortinet in a research note on Friday. Evercore ISI set a $80.00 price target on Fortinet in a research report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Fortinet in a research report on Friday. Finally, Robert W. Baird set a $90.00 target price on Fortinet in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $89.46.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 175,737 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total value of $14,308,506.54. Following the completion of the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. The trade was a 0.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the transaction, the vice president owned 10,210,282 shares of the company’s stock, valued at approximately $831,321,160.44. This represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 17.20% of the company’s stock.

Key Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Q4 beat and raised full‑year guidance — Fortinet reported Q4 revenue of $1.91B and EPS of $0.81 (above estimates) and issued FY‑2026 EPS guidance ahead of consensus; management highlighted strong enterprise demand. Read More.
• Positive Sentiment: Billings, product growth and Unified SASE strength — Billings rose ~18% (Unified SASE billings up ~40%) and product revenue grew double digits, underpinning revenue momentum. Read More.
• Positive Sentiment: Buyback expanded — company increased its buyback program by $1B to roughly $10.25B through Feb 2027, a shareholder‑friendly move that supports the stock. Read More.
• Positive Sentiment: Some bullish analyst action — Rosenblatt raised its target to $105 (buy), and Wedbush reaffirmed an outperform with a $90 target, giving upside voices amid mixed comments. Read More. • Read More.
• Neutral Sentiment: Primary disclosures and management commentary — full earnings call transcript and presentation are available for deeper read on cloud/SASE strategy and guidance detail. Read More. • Read More.
• Negative Sentiment: Analyst caution still present — JPMorgan and Mizuho raised price targets slightly but kept underweight/outperform/underperform stances that imply limited near‑term upside from some shops; Jefferies also remains cautious on 2026. Read More. • Read More. • Read More.
• Negative Sentiment: Insider selling — filings show large sales by the CEO and a VP, which may raise short‑term governance/flow concerns for some investors. Read More. • Read More.
• Neutral Sentiment: Street positioning mixed — some firms (Robert W. Baird, others) keep holds or reiterate neutral stances citing product strength offset by services slowdown or limited near‑term upside. Read More.

Institutional Investors Weigh In On Fortinet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wexford Capital LP acquired a new stake in Fortinet in the third quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in shares of Fortinet in the 3rd quarter valued at $28,000. Quarry LP acquired a new stake in shares of Fortinet during the 3rd quarter valued at $33,000. Triumph Capital Management acquired a new stake in shares of Fortinet during the 3rd quarter valued at $44,000. Finally, iSAM Funds UK Ltd bought a new stake in Fortinet during the 3rd quarter worth $101,000. 83.71% of the stock is owned by institutional investors.

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.