Scotiabank Has Bullish Estimate for Fortinet FY2026 Earnings

Fortinet, Inc. (NASDAQ:FTNT) – Investment analysts at Scotiabank lifted their FY2026 earnings estimates for Fortinet in a report released on Wednesday, February 11th. Scotiabank analyst P. Colville now expects that the software maker will post earnings per share of $2.62 for the year, up from their previous forecast of $2.58. Scotiabank currently has a “Sector Perform” rating and a $85.00 price objective on the stock. The consensus estimate for Fortinet’s current full-year earnings is $2.09 per share.

A number of other brokerages also recently weighed in on FTNT. UBS Group reiterated a “neutral” rating and issued a $90.00 target price on shares of Fortinet in a report on Friday, February 6th. Robert W. Baird set a $90.00 target price on shares of Fortinet in a research report on Friday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $87.00 price target on shares of Fortinet in a research note on Monday, November 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Fortinet in a research report on Friday, January 23rd. Finally, Evercore set a $80.00 price target on Fortinet in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty-two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.07.

Fortinet Stock Performance

Shares of Fortinet stock opened at $85.56 on Friday. The stock has a market cap of $63.63 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.95 and a beta of 1.06. Fortinet has a 12 month low of $70.12 and a 12 month high of $114.82. 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 business has a fifty day simple moving average of $80.56 and a 200-day simple moving average of $82.06.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a net margin of 27.26% and a return on equity of 124.21%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $0.74 EPS. The company’s revenue was up 14.8% on a year-over-year basis. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS.

Institutional Trading of Fortinet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Fortinet by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 75,581,275 shares of the software maker’s stock valued at $6,354,874,000 after buying an additional 2,894,355 shares during the period. State Street Corp grew its holdings in Fortinet by 1.6% during the third quarter. State Street Corp now owns 29,660,558 shares of the software maker’s stock worth $2,493,860,000 after purchasing an additional 477,397 shares during the period. Geode Capital Management LLC boosted its stake in Fortinet by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 16,916,974 shares of the software maker’s stock valued at $1,783,091,000 after purchasing an additional 828,569 shares during the period. Norges Bank bought a new position in shares of Fortinet during the second quarter worth approximately $1,640,900,000. Finally, Bank of New York Mellon Corp grew its stake in Fortinet by 6.6% during the fourth quarter. Bank of New York Mellon Corp now owns 14,504,597 shares of the software maker’s stock worth $1,151,810,000 after buying an additional 893,190 shares in the last quarter. Institutional investors and hedge funds own 83.71% of the company’s stock.

Insider Buying and Selling at Fortinet

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

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.