Fortinet stock trades at EUR 154.79 as Q2 growth shapes outlook
Published on 09/30/2026 at 15:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Fortinet stock (ISIN US34959E1091) was trading at EUR 154.79 at Lang & Schwarz on September 30, 2026 at 3:31 p.m. CEST, down 0.23 percent versus the prior close of EUR 155.15. The latest operating picture is stronger than the muted intraday move: Zacks reported that second-quarter 2026 revenue rose 26.00 percent year over year to USD 2.05 billion.
Billings outpace revenue growth
Fortinet's Q2 2026 billings increased 33.00 percent to USD 2.37 billion, while product revenue climbed 52.00 percent to USD 773.00 million, according to Zacks. The combination matters because billings provide a forward-looking view of demand, while product growth points to fresh spending on FortiGate and related security infrastructure.
The same Q2 report showed a non-GAAP operating margin of 38.00 percent and free cash flow of USD 966.00 million. That cash generation gives the company room to keep investing in AI security, SASE and its broader networking platform while maintaining a high operating margin.
Guidance sets the next test
Management raised full-year 2026 revenue guidance to USD 8.02 billion-USD 8.18 billion, a midpoint growth rate of 19.00 percent, while billings guidance reached USD 9.35 billion-USD 9.55 billion, Zacks reported on September 22, 2026. The company also projected non-GAAP earnings per share of USD 3.41-USD 3.47 and a full-year operating margin of 35.00-37.00 percent.
The next scheduled earnings report is November 4, 2026, according to Earnings Today. The upcoming report will test whether the 33.00 percent billings increase can translate into sustained revenue growth and whether the raised annual range remains achievable.
Analyst targets remain below price
Valuation expectations are more cautious than the growth figures. MarketScreener reported on September 17, 2026 that Bernstein raised its price target from USD 102.00 to USD 145.00 while keeping a Market Perform rating. MarketScreener reported on September 11, 2026 that Wedbush cut its rating to Neutral from Outperform but raised its target from USD 125.00 to USD 155.00.
Fortinet stock holds its market reference
At Lang & Schwarz, Fortinet stock was trading at EUR 154.79 on September 30, 2026 at 3:31 p.m. CEST, down 0.23 percent versus the prior close of EUR 155.15. The primary Nasdaq listing was quoted at USD 176.74 at 9:35 a.m. EDT, while market capitalization stood at USD 129.7 billion and the 52-week range was USD 73.55-USD 181.37, both as of September 30, 2026.
Fortinet stock facts
- Company: Fortinet, Inc.
- ISIN: US34959E1091
- Ticker: FTNT
- Primary exchange: Nasdaq
- Price Lang & Schwarz as of September 30, 2026, 3:31 p.m. CEST: EUR 154.79
- Change versus prior close: minus 0.23 percent
- Prior close Lang & Schwarz September 29, 2026: EUR 155.15
- Market capitalization: USD 129.7 billion as of September 30, 2026
- 52-week range: USD 73.55-USD 181.37 as of September 30, 2026
- Sector / Industry: Technology / Software infrastructure
- Next earnings date: November 4, 2026
