Fortinet stock gains 2.72 percent as Scotiabank lifts EPS estimate
Published on 10/06/2026 at 17:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Fortinet stock (ISIN US34959E1091) was trading at USD 189.14 on Nasdaq on October 6, 2026 at 11:35 a.m. ET, up 2.72 percent. The latest analyst move came from Scotiabank, which raised its fiscal 2026 earnings estimate on October 1, 2026, giving the stock a fresh earnings checkpoint.
Scotiabank raises its EPS estimate
According to MarketBeat on October 6, 2026, Scotiabank lifted its fiscal 2026 EPS estimate from USD 2.77 to USD 3.10. Scotiabank kept a Sector Perform rating and a USD 163.00 price target, placing its estimate below the current Nasdaq price.
Q2 revenue rises 26 percent
Fortinet's Q2 2026 results provide the operating basis for that estimate. In the July 29, 2026 earnings call, Yahoo Finance reported that revenue increased 26 percent year over year to USD 2.05 billion, while product revenue grew 52 percent to USD 773 million.
GAAP diluted EPS rose 44 percent to USD 0.82, while non-GAAP EPS increased 41 percent to USD 0.90. Non-GAAP operating margin reached 38 percent, up 490 basis points, and free cash flow reached USD 966 million, more than triple the year-earlier figure.
Full-year guidance reaches USD 8.18 billion
Fortinet raised its fiscal 2026 revenue outlook to USD 8.02 billion to USD 8.18 billion, with the midpoint implying 19 percent growth. The company also guided to USD 9.35 billion to USD 9.55 billion in billings and non-GAAP EPS of USD 3.41 to USD 3.47, according to the Q2 call.
The next company checkpoint is scheduled for October 28, 2026. Fortinet's investor-relations calendar lists the Q3 2026 earnings announcement for 4:30 p.m. EDT on that date, according to Fortinet.
Consensus target trails the stock
The valuation counterweight is the published consensus. MarketScreener lists a Hold consensus from 44 analysts and an average target price of USD 164.32. That target is below the October 6 Nasdaq price, making the stock's earnings delivery and guidance conversion central to the next valuation debate.
Fortinet stock trades near its yearly high
Fortinet stock was trading at USD 189.14 on Nasdaq on October 6, 2026 at 11:35 a.m. ET, with a market capitalization of USD 138.8 billion and a 52-week range of USD 73.55 to USD 192.41.
Fortinet stock facts
- Company: Fortinet, Inc.
- ISIN: US34959E1091
- Ticker: FTNT
- Trading venue: Nasdaq
- Price (as of October 6, 2026, 11:35 a.m. ET): USD 189.14
- Market capitalization: USD 138.8 billion (as of October 6, 2026)
- 52-week range: USD 73.55-192.41 (as of October 6, 2026)
- Sector / Industry: Software / Cybersecurity
- Index membership: S&P 500 and Nasdaq-100
Upcoming dates for Fortinet stock
- October 28, 2026: Q3 2026 earnings announcement at 4:30 p.m. EDT
