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Sunnyvale, California-based Fortinet, Inc. (FTNT) is a cybersecurity company that provides a broad portfolio of network security solutions designed to protect enterprises, service providers, and government organizations from evolving cyber threats. Valued at a market cap of $58.2 billion, the company is scheduled to announce its fiscal Q1 earnings for 2026 after the market closes on Wednesday, May 6.
Ahead of this event, analysts expect this cybersecurity company to report a profit of $0.53 per share, up 3.9% from $0.51 per share in the year-ago quarter. The company has topped Wall Street’s bottom-line estimates in each of the last four quarters.
For the current fiscal year, ending in December, analysts expect FTNT to report a profit of $2.63 per share, up 8.7% from $2.42 per share in fiscal 2025. Its EPS is expected to further grow 9.9% year over year to $2.89 in fiscal 2027.
FTNT has declined 19.7% over the past 52 weeks, underperforming the S&P 500 Index’s ($SPX) 30.1% gains and the Technology Select Sector SPDR Fund’s (XLK) 49.6% rise over the same time frame.
Fortinet has underperformed the broader market over the past year, mainly due to slowing growth momentum and a reset in investor expectations. The company faced pressure as key product upgrade cycles matured, reducing near-term growth catalysts, while guidance and forward visibility occasionally disappointed the Street. Additionally, Fortinet’s growth has lagged behind faster-moving cybersecurity peers in cloud and AI-driven segments, leading to valuation compression.
Wall Street analysts are cautious about FTNT’s stock, with a "Hold" rating overall. Among 43 analysts covering the stock, eight recommend "Strong Buy," 30 suggest "Hold,” one indicates a “Moderate Sell,” and four advise “Strong Sell.” The mean price target for FTNT is $88.59, indicating a 11.2% potential upside from the current price levels.
