Wells Fargo lifts Fortinet target to USD 160 for Fortinet stock

Published on 10/19/2026 at 09:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wells Fargo kept Underweight and raised its target to USD 160 from USD 135. Fortinet stock trades at EUR 152.37 on October 19, 2026 ahead of October 28 results.

Targets earnings and trading

Wells Fargo raised its Fortinet target from USD 135.00 to USD 160.00 on October 15, 2026.
Fortinet generated USD 2.05 billion in second-quarter 2026 revenue, up 25.60 percent year over year.
Fortinet stock trades at EUR 152.37 at 9:01 a.m. CEST at Lang & Schwarz on October 19, 2026.

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Fortinet Inc. (ISIN US34959E1091) trades at EUR 152.37 at Lang & Schwarz on October 19, 2026 at 9:01 a.m. CEST. The immediate catalyst is a Wells Fargo target increase to USD 160.00 from USD 135.00 while the firm kept its Underweight rating, according to Markets Insider on October 15, 2026.

Why the target still signals caution

The higher target does not remove the valuation risk embedded in the rating. Wells Fargo analyst Richard Poland said partner and reseller research pointed to stronger cybersecurity spending into 2027, while the Underweight stance kept the assessment cautious.

Fortinet's second-quarter 2026 revenue reached USD 2.05 billion, up 25.60 percent from the same quarter a year earlier. Adjusted earnings per share were USD 0.90, above the USD 0.75 consensus estimate, according to Yahoo Finance. That combination gives the October results announcement a demanding benchmark.

Three dates explain the setup

On July 29, 2026, Fortinet reported USD 2.05 billion in second-quarter revenue and USD 0.90 in adjusted earnings per share, as Yahoo Finance reported. On October 2, 2026, the company scheduled its third-quarter results call for October 28, 2026, according to Fortinet.

On October 15, 2026, Wells Fargo raised its target from USD 135.00 to USD 160.00 while retaining Underweight. The sequence shows why the next report matters: operational growth has improved, but analysts are still divided over how much of that improvement is already reflected in valuation.

What dates matter next

Fortinet will discuss third-quarter 2026 results on October 28, 2026 at 4:30 p.m. ET, a date confirmed in the company's release. Fortinet's corporate calendar also lists the Security Operations Summit for November 4, 2026, according to Fortinet.

Stock trades ahead of results

The next report will test whether the revenue pace and profitability shown in the second quarter can support the market's elevated expectations. Fortinet was trading at EUR 152.37 at Lang & Schwarz on October 19, 2026 at 9:01 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Fortinet stock.