Fortinet (FTNT)
NASDAQInformation TechnologySoftware - InfrastructureSnapshot 2026-07-08
$156.71-1.24%
Close 2026-07-08 · 1-day change
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Track FTNT free→Fortinet grows revenue about 14% a year to nearly $7.8 billion in 2026. Profit per share is on track to reach $3.13. The company keeps strong cash flow, with $1.08 billion in operating cash flow last quarter. Fortinet leads in cybersecurity with new products like FortiSOC.
Revenue growth could slow below 14% if demand weakens. Profit margins may shrink if costs rise. The recent guidance cut shows risks to earnings growth. Competition in cybersecurity is intense and could pressure results.
The price is about 44% above our fair value near $110. Analysts expect 14% revenue growth, which is roughly in line with management targets. The market is optimistic, but the recent guidance cut and pullback suggest risks to this view.
Breaks if: EPS falls below $2.68 in FY26
Fortinet targets an EPS of $3.13 for the fiscal year 2026.
Stated in 2 of last 2 quarters. GAAP earnings per share grew 29% year over year to $0.72 in 2026-Q1, showing progress towards the $3.13 EPS target for 2026. The trajectory is on track with the stated EPS goal.
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“Fortinet expects diluted non-GAAP net income per share in the range of $3.10 to $3.16.”
“Achieve EPS of $3.13 in 2026.”
Breaks if: Operating cash flow falls below $900 million per quarter
Fortinet aims to sustain robust cash flow from its operations.
Stated in 3 of last 3 quarters. Record operating cash flow of $1.08 billion in 2026-Q1 demonstrates Fortinet's success in maintaining strong cash flow from operations. The trajectory is delivering on this capital allocation priority.
“Record operating cash flow of $1.08 billion reported.”
“Maintain strong cash flow from operations.”
“Maintain strong cash flow from operations.”
Breaks if: Annual revenue falls below $7.4 billion in FY26
Fortinet aims to achieve an annual revenue of $7.79 billion in 2026.
Stated in 2 of last 2 quarters. Revenue grew 20% year over year to $1.85 billion in 2026-Q1, indicating strong progress towards the $7.79 billion target for 2026. The trajectory is delivering on the stated growth priority.
“Fortinet raises 2026 revenue guidance to 15% year over year growth.”
“Increase annual revenue to $7.79B in 2026.”