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Fortinet shares surge after strong quarterly results
After reporting Q1 results on May 6, Fortinet’s stock rose 20% in the following trading session, as adjusted EPS and revenue both topped expectations.
Fortinet, valued at $111.6 billion by market cap, has outperformed the broader market over multiple timeframes, with the stock gaining 43% over the past year versus about a 16.3% rise in the S&P 500. Year to date in 2026, Fortinet shares are up 88.9%, surpassing the S&P 500’s 8.5% increase. Yahoo Finance highlights that this relative strength is also stronger than the Xtrackers Cybersecurity Select Equity ETF, which gained about 12.2% over the past year and returned 23.5% year to date.
The article points to FortiOS 8.0 as a key driver, citing AI-driven security, next-generation SASE, and quantum-safe protection. It also notes FortiAI automation is aimed at cutting response times, while demand for sovereign SASE is rising amid AI and geopolitical risks.
Fortinet’s momentum was reinforced after its Q1 report on May 6, when shares jumped 20% in the next trading session. Yahoo Finance says adjusted EPS came in at $0.82, above the $0.61 expectation, and revenue reached $1.9 billion, exceeding the $1.7 billion forecast.
Looking ahead, Fortinet expects full-year adjusted EPS in the $3.10 to $3.16 range and revenue between $7.7 billion and $7.9 billion, according to the article. For the current fiscal year ending in December, analysts expect diluted EPS to grow 15.7% to $2.80, and the company has beaten consensus estimates in each of the last four quarters, the outlet adds.
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