Fortinet Inc (NASDAQ:FTNT) shares are rising on Friday after the cybersecurity company delivered stronger‑than‑expected fourth‑quarter results and issued guidance for both the first-quarter and full year 2026.
Adding to the momentum, Rosenblatt raised its price target on the stock.
Fortinet reported fourth‑quarter earnings of 81 cents per share, topping the 74 cents consensus estimate and improving from 74 cents a year ago. Revenue came in at $1.905 billion, beating expectations and rising nearly 15% year‑over‑year from $1.66 billion.
Strong Guidance
The company expects first‑quarter 2026 revenue between $1.70 billion and $1.76 billion, with diluted non‑GAAP EPS of 59 cents to 63 cents. Fortinet also guided for billings of $1.77 billion to $1.87 billion and a non‑GAAP operating margin of 30% to 32%.
For the full-year 2026, Fortinet projects revenue of $7.50 billion to $7.70 billion and diluted non‑GAAP EPS of $2.94 to $3.00. Billings are expected to land between $8.40 billion and $8.60 billion, with a non‑GAAP operating margin of 33% to 36%.
Analyst Action
Fortinet continues to draw mixed reviews from analysts recently, with ratings ranging from underperform to outperform. Rosenblatt analyst Catharine Trebnick reiterated a Buy rating and raised her price target from $100 to $105, citing confidence in Fortinet's execution and long‑term positioning. On Feb. 6, Mizuho maintained its underperform rating on the company, albeit with a slightly increased target of $74.00 from its previous $72.00. On the same day, Wedbush reiterated its outperform rating and set a target of $90.00.
Earlier on Feb. 2, Scotiabank downgraded Fortinet to sector perform from sector outperform, setting a target of $85.00. This follows JP Morgan’s move on Jan. 30, where it maintained its underweight rating on the company and lowered its target to $72.00 from $75.00. It’s apparent that analysts are divided on Fortinet’s stock performance outlook.
FTNT Price Action: Fortinet shares were up 2.55% at $80.94 at the time of publication on Friday, according to Benzinga Pro.
Image: JHVEPhoto/Shutterstock
