Why Fortinet, Inc. (FTNT) stock fell 20.5% on Thursday, October 29, 2026

Fortinet, Inc. (FTNT) traded at $138.46 as of 10:31 AM ET, down 20.46% on Thursday, October 29, 2026, on volume of 7,004,116 shares (1.6× its 3-month average); market value about $101.60B.

What happened: primary sources

Events Nexqual found for FTNT on Thursday, October 29, 2026 or the trading day before (October 28, 2026):

• Oct 28, 2026: Reported Q3 2026 results: adjusted EPS $0.91 vs consensus $0.86 (beat), revenue $2.08B vs consensus $2.06B (beat). Guidance: For Q4 2026, revenue is expected in the range of $2.155 billion to $2.245 billion. source
• Oct 29, 2026: Piper Sandler: Target lowered, Neutral, price target $175 → $140
• Oct 29, 2026: Scotiabank: Target lowered, Sector Perform, price target $163 → $140
• Oct 29, 2026: Stifel: Target lowered, Hold, price target $175 → $140
• Oct 29, 2026: Citigroup: Target lowered, Neutral, price target $185 → $140
• Oct 29, 2026: Barclays: Target lowered, Equal-Weight, price target $210 → $155
• Oct 29, 2026: BTIG: Target lowered, Buy, price target $203 → $186

These are listed as context. A filing or rating change on the same day is not proof that it caused the move; read the source.

More on FTNT

FTNT stock page: price, SEC financials, insider trades, superinvestor holders, analyst estimates and options. Other big moves that day: October 29, 2026.

Sources: SEC EDGAR, Nexqual Earnings Flash, analyst rating changes, Nexqual market data. Built October 29, 2026 at 15:30 UTC. Not investment advice.

Data source: Nexqual. Last updated: October 29, 2026 at 15:30 UTC. This page is informational and not investment advice.

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