Scotiabank raises Fortinet stock estimate to USD 3.10

Published on 10/07/2026 at 15:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fortinet stock costs EUR 171.03 after EUR 169.81 on October 7, 2026. Q2 revenue rose 26 percent to USD 2.05 billion.

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Fortinet Inc. stock (ISIN US34959E1091) was trading at EUR 171.03 at Lang & Schwarz on October 7, 2026 at 3:08 p.m. CEST, up 0.72 percent versus the prior close of EUR 169.81. According to MarketBeat, Scotiabank raised its fiscal 2026 earnings estimate to USD 3.10 from USD 2.77 in a research note issued on October 1, 2026, while keeping a Sector Perform rating and a USD 163.00 target.

Scotiabank lifts its estimate

The estimate change puts Scotiabank's forecast above the USD 3.07 consensus cited by MarketBeat. That comparison matters because the analyst's new estimate is 1.00 percent above consensus, while the USD 163.00 target remains below the latest Nasdaq reference price of USD 191.27.

MarketBeat reported that Fortinet's latest quarter delivered earnings per share of USD 0.90 against a USD 0.75 consensus estimate. Revenue reached USD 2.05 billion, up 25.60 percent from the comparable period, versus the USD 1.89 billion expectation.

Second-quarter growth broadens

Fortinet's second-quarter 2026 earnings call showed a wider operating base behind the result. As Yahoo Finance reported from the July 29, 2026 call, total revenue increased 26 percent to USD 2.05 billion, product revenue rose 52 percent to USD 773 million, and service revenue grew 14 percent to USD 1.27 billion.

The same call reported GAAP earnings per share of USD 0.82, up 44 percent year over year, while non-GAAP earnings per share rose 41 percent to USD 0.90. Non-GAAP operating margin reached 38 percent, and free cash flow rose to USD 966 million, giving investors a sharper test of whether growth is converting into cash.

Results date sets the next checkpoint

Fortinet expects third-quarter revenue between USD 2.01 billion and USD 2.10 billion, with non-GAAP earnings per share between USD 0.83 and USD 0.87. Full-year 2026 revenue guidance stands at USD 8.02 billion to USD 8.18 billion, while full-year non-GAAP earnings per share guidance is USD 3.41 to USD 3.47.

Fortinet lists October 28, 2026 at 4:30 p.m. EDT for its third-quarter 2026 earnings announcement. The upcoming report will show whether the second-quarter acceleration in product demand and service revenue continues into the second half.

Fortinet stock holds near its yearly high

On Nasdaq, FTNT was last at USD 191.27 on October 6, 2026 at 4:00 p.m. ET. The 52-week range was USD 73.55 to USD 192.41, placing the primary-exchange price 0.59 percent below the high and keeping valuation sensitivity central to the next results reaction.

Fortinet was trading at EUR 171.03 at Lang & Schwarz on October 7, 2026 at 3:08 p.m. CEST, plus 0.72 percent versus the Lang & Schwarz prior close of EUR 169.81. The further course of trading is shown by the continuously updated real-time quote of Fortinet stock.