Fortinet Stock Tanks After Q3 Earnings Print: Details

Fortinet Inc. (NASDAQ:FTNT) posted its third-quarter fiscal 2026 results after Wednesday’s closing bell, beating analyst estimates. The stock sold off anyway. Here’s a look at the details inside the report. 

• FTNT stock is moving. Watch the price action here.

Fortinet Q3 Details       

Fortinet reported quarterly earnings of 91 cents per share, which beat the Street estimate of 86 cents by 5.81%, per Benzinga Pro data.  

Quarterly revenue came in at $2.08 billion, which beat the consensus estimate of $2.06 billion and was up from $1.73 billion in the same period last year.

Fortinet reported the following quarterly highlights:

• Revenue grew 20% year-over-year to $2.08 billion
• Product revenue grew 37% year-over-year to $765 million
• Billings grew 29% year-over-year to $2.34 billion
• Non-GAAP operating margin of 38%

“We are very pleased with our excellent third quarter results, which reflect strong execution and broad-based demand across our entire portfolio, allowing us to raise our 2026 billings guidance for the third time this year,” said CEO Ken Xie.

FTNT Stock Price: According to data from Benzinga Pro, Fortinet stock was down 21.87% to $136 in Wednesday’s extended trading.  

FTNT Technical Analysis

Heading into earnings, Fortinet was trading about 3.4% below its 20-day SMA ($182.02), a common "cool-off" zone after a strong push, but it remains about 2.2% above its 50-day SMA ($171.94) and well above its 200-day SMA ($127.79). That mix usually signals a longer-term uptrend that’s being tested in the short term, especially with the Golden Cross that formed in May still in place.

From a levels perspective, traders will likely watch whether the stock can reclaim the low-$180s area or whether it continues to drift toward the mid-$160s where demand has shown up before.

• Key Resistance: $181.50 — Nearby rebound ceiling that lines up closely with the 20-day SMA/EMA zone where rallies can stall
• Key Support: $166 — Nearby floor that sits closer to the 100-day SMA ($163.63), a common area for trend buyers to defend

RSI is 47.74, which points to neutral momentum after the stock cooled from the more stretched conditions seen around October. In plain terms, RSI helps gauge whether a move is getting overextended; right now it suggests neither buyers nor sellers have a clear momentum edge.

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