Fortinet (NASDAQ:FTNT) Releases Q4 2026 Earnings Guidance

Fortinet (NASDAQ:FTNT) issued an update on its fourth quarter 2026 earnings guidance on Friday. The company provided EPS guidance of 0.930-0.950 for the period, compared to the consensus earnings per share estimate of 0.860. The company issued revenue guidance of $2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Fortinet also updated its FY 2026 guidance to 3.540-3.580 EPS.

Wall Street Analyst Weigh In

A number of research firms recently commented on FTNT. Morgan Stanley reiterated a “positive” rating and issued a $136.00 price objective (up from $133.00) on shares of Fortinet in a report on Thursday, July 30th. Arete Research downgraded shares of Fortinet from a “buy” rating to a “sell” rating and set a $117.00 price target on the stock. in a report on Wednesday, October 21st. Bank of America cut Fortinet from a “buy” rating to a “neutral” rating and set a $140.00 price target on the stock. in a report on Thursday. Royal Bank Of Canada set a $165.00 price target on shares of Fortinet and gave the company a “sector perform” rating in a report on Thursday. Finally, Mizuho set a $118.00 price objective on shares of Fortinet in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-four have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Fortinet presently has an average rating of “Hold” and a consensus price target of $147.94.

Fortinet Stock Down 2.2%

Shares of NASDAQ:FTNT opened at $136.08 on Friday. The firm has a 50 day simple moving average of $171.34 and a 200-day simple moving average of $128.28. Fortinet has a twelve month low of $73.55 and a twelve month high of $197.13. The company has a current ratio of 1.40, a quick ratio of 1.19 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $99.84 billion, a PE ratio of 44.18, a P/E/G ratio of 2.53 and a beta of 1.03.

Fortinet (NASDAQ:FTNT) last issued its earnings results on Wednesday, October 28th. The software maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Fortinet had a return on equity of 152.72% and a net margin of 28.96%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. Fortinet’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities analysts predict that Fortinet will post 3.19 EPS for the current fiscal year.

Insider Transactions at Fortinet

In other news, CEO Ken Xie sold 161,482 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $162.66, for a total value of $26,266,662.12. Following 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. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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, COO John Whittle sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $168.74, for a total value of $478,377.90. Following the transaction, the chief operating officer directly owned 96,987 shares of the company’s stock, valued at $16,365,586.38. The trade was a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, 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.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet reported third-quarter revenue of approximately $2.08 billion, up 20.5% year over year, and adjusted EPS of $0.91, exceeding consensus estimates. Billings increased 29%, while operating margins reached a record. Fortinet Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management raised full-year 2026 guidance to $8.1 billion-$8.2 billion in revenue and $3.54-$3.58 in EPS. Fourth-quarter EPS guidance of $0.93-$0.95 also exceeds the consensus estimate of $0.86. Fortinet Raises Guidance
• Positive Sentiment: The board authorized an additional $1.2 billion in share repurchases, and quarterly free cash flow was approximately $865 million. Analysts at TD Cowen, Rosenblatt and Truist retained bullish ratings despite lowering their price targets. Fortinet Adds to Buyback Program
• Neutral Sentiment: Fortinet is technically oversold after a sharp multi-week decline, while rising earnings estimates could support a rebound. However, the technical signal does not resolve concerns about the company’s growth mix. Fortinet May See a Trend Reversal
• Negative Sentiment: Service revenue grew only 13%, versus 37% growth in product revenue. Investors are concerned that hardware sales tied to AI infrastructure are not converting into recurring services quickly enough, reducing near-term revenue visibility. The Real Reason Fortinet Dropped
• Negative Sentiment: Management lowered its services outlook, while fourth-quarter revenue guidance implies growth deceleration from the third quarter. Normalizing pricing benefits, higher inventory costs and longer component lead times added to investor concerns.
• Negative Sentiment: Wells Fargo cut its price target to $115 and assigned an underweight rating; Susquehanna lowered its target to $145 and rated the shares neutral. Other firms, including Bank of America, Citi, Barclays and Scotiabank, also reduced targets or ratings. Analysts Cut Fortinet Forecasts
• Negative Sentiment: The broader technology and cybersecurity sell-off is amplifying the reaction, despite a major cryptocurrency hack highlighting demand for digital security. Investors are also questioning whether Fortinet’s premium valuation remains justified as growth slows.

Fortinet Company Profile

Fortinet, Inc develops cybersecurity products and services designed to protect networks, endpoints, applications, cloud environments and operational technology systems. The company’s portfolio includes next-generation firewalls, secure networking products, endpoint security, web application security, email security, identity and access solutions, and security information and event management tools.

Its product offerings include FortiGate network security appliances and cloud-based firewalls, along with FortiSwitch, FortiAP and FortiExtender solutions for secure connectivity.