Fortinet shares jump 24% after outlook hike and billings surge
Updated
Updated · Bloomberg · May 6
Fortinet shares jump 24% after outlook hike and billings surge
10 articles · Updated · Bloomberg · May 6
The cybersecurity company lifted its full-year revenue forecast to $7.7bn-$7.9bn from $7.5bn-$7.7bn, topping Wall Street's $7.6bn average estimate.
The move came in post-market trading after Fortinet reported its strongest billings growth in more than three years, signalling improving demand for its products and services.
The sharp gain suggests investors welcomed stronger sales momentum and a more upbeat outlook, with the revised forecast marking a notable upgrade to the company's expectations for 2026.
Why are analysts cautious on Fortinet's stock despite its record performance in a booming cybersecurity market?
As AI accelerates cyber warfare, can Fortinet's security platform truly outpace sophisticated, AI-powered threats?