Fortinet reported a strong first quarter with revenue increasing 20% year-over-year to $1.85 billion, surpassing analyst expectations by 6.7%. Billings grew 31% YoY, and deferred revenue reached $7.35 billion, indicating strong demand and future revenue visibility. Operating leverage improved profitability, with GAAP operating margin rising to 31.4% and net income up 23.3% YoY. The company’s growth is supported by AI-driven demand and disciplined capital management, leading the analyst to maintain a Buy rating with a $145 price target, implying a 17.8% upside potential.
DZ Bank downgraded Fortinet to Hold with a $125 price target, reflecting caution after a strong rally in cybersecurity stocks. The downgrade, alongside a Sell rating for CrowdStrike, signals concerns over valuation and competitive pressures in the se...
Fortinet, a cybersecurity company, reported a 20% revenue increase to $1.85 billion in Q1 2026 and raised its full-year revenue guidance to $7.87 billion. The stock has gained 53% this year, driven by strong institutional buying and growing demand fo...
