FY2026 Earnings Forecast for Fortinet Issued By Scotiabank

Fortinet, Inc. (NASDAQ:FTNT) – Scotiabank lifted their FY2026 earnings per share estimates for shares of Fortinet in a report released on Monday, November 2nd. Scotiabank analyst P. Colville now forecasts that the software maker will earn $3.21 per share for the year, up from their previous estimate of $3.10. Scotiabank currently has a “Sector Perform” rating and a $140.00 target price on the stock. The consensus estimate for Fortinet’s current full-year earnings is $3.20 per share.

A number of other equities research analysts have also recently issued reports on FTNT. Susquehanna decreased their price target on shares of Fortinet from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 30th. Wells Fargo & Company cut their price objective on Fortinet from $160.00 to $115.00 and set an “underweight” rating for the company in a research report on Friday, October 30th. Roth Capital boosted their price objective on Fortinet from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Stephens increased their target price on Fortinet from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $145.00 target price (up from $102.00) on shares of Fortinet in a report on Thursday, September 17th. Eleven research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $147.53.

Fortinet Stock Performance

Shares of FTNT opened at $129.39 on Thursday. The company has a market capitalization of $95.06 billion, a PE ratio of 42.01, a price-to-earnings-growth ratio of 2.46 and a beta of 1.04. Fortinet has a one year low of $73.55 and a one year high of $197.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.40 and a quick ratio of 1.28. The company’s fifty day moving average price is $169.84 and its 200 day moving average price is $129.04.

Fortinet (NASDAQ:FTNT) last announced its earnings results on Wednesday, October 28th. The software maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Fortinet had a return on equity of 152.72% and a net margin of 28.96%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share.

Institutional Trading of Fortinet

Several institutional investors have recently modified their holdings of the company. Puff Wealth Management LLC grew its position in Fortinet by 3.4% during the 3rd quarter. Puff Wealth Management LLC now owns 1,660 shares of the software maker’s stock worth $297,000 after acquiring an additional 54 shares during the last quarter. Columbus Macro LLC raised its position in Fortinet by 1.9% in the 3rd quarter. Columbus Macro LLC now owns 2,981 shares of the software maker’s stock valued at $533,000 after purchasing an additional 55 shares during the last quarter. Signaturefd LLC raised its position in Fortinet by 0.3% in the 3rd quarter. Signaturefd LLC now owns 19,581 shares of the software maker’s stock valued at $3,500,000 after purchasing an additional 59 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC raised its position in Fortinet by 1.9% in the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,525 shares of the software maker’s stock valued at $630,000 after purchasing an additional 66 shares during the last quarter. Finally, Kintegral Advisory LLC boosted its stake in Fortinet by 0.6% in the third quarter. Kintegral Advisory LLC now owns 12,648 shares of the software maker’s stock worth $2,261,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Activity at Fortinet

In related news, CEO Ken Xie sold 161,483 shares of Fortinet stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $129.31, for a total transaction of $20,881,366.73. Following the sale, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $6,849,857,423.32. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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, COO John Whittle sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $168.74, for a total value of $478,377.90. Following the transaction, the chief operating officer owned 96,987 shares in the company, valued at $16,365,586.38. This represents a 2.84% 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. Over the last 90 days, insiders sold 221,304 shares of company stock worth $30,675,309. Company insiders own 17.60% of the company’s stock.

More Fortinet News

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Fortinet raised its 2026 outlook, citing demand for AI security and enterprise products. Its latest quarterly results also beat analyst expectations for both earnings and revenue. Q3 earnings-call highlights
• Positive Sentiment: Daiwa Securities upgraded FTNT from “neutral” to “outperform” and set a $150 price target, signaling confidence in potential recovery. Daiwa analyst rating
• Neutral Sentiment: Zacks Research lowered its rating from “strong buy” to “hold,” underscoring divided analyst views. Fortinet was also included in a list of large-cap tech stocks favored by billionaire investors, though that mention is not a company-specific catalyst. Analyst and earnings coverage Billionaire-backed tech stocks
• Neutral Sentiment: CEO Ken Xie and VP Michael Xie sold shares through pre-arranged plans to cover tax withholding on vested equity awards; the sales were small relative to their remaining holdings. Insider transaction details
• Negative Sentiment: Investors remain concerned about slower product growth, delays in service revenue and rising component costs. Those concerns, along with broader technology-sector worries about growth valuations and AI infrastructure spending, contributed to sharp recent selling in FTNT despite the earnings beat and raised outlook. Q3 earnings-call outlook and challenges

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.