Mizuho raises target for Fortinet stock to USD 160 from USD 138

Published on 10/16/2026 at 10:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mizuho lifted its target to USD 160 from USD 138 on October 15, 2026. Fortinet stock costs EUR 162.25 on October 16, 2026 before October 28 results.

Target changes and upcoming results

Mizuho lifted its Fortinet target to USD 160 from USD 138 on October 15, 2026.
Fortinet reported USD 2.05 billion in second-quarter revenue for 2026.
Fortinet stock traded at EUR 162.25 at 10:15 a.m. CEST at Lang & Schwarz on October 16, 2026.
Fortinet scheduled its third-quarter results for October 28, 2026.

NASDAQ-Börsenparkett mit Händlern und großen Bildschirmen mit Tech-Cybersecurity-Sektorkursen — Fortinet Inc. NASDAQ Börsen Parkett mit Händlern und Cyber Sicherheits Sektor Kursen ISIN US34959E1091, Illustration mit AI erstellt.

Fortinet Inc. (ISIN US34959E1091) is facing a lower analyst valuation ceiling after Markets Insider reported on October 15, 2026 that Mizuho raised its Fortinet target to USD 160 from USD 138 while retaining an Underperform rating. The change came before the company reports its third-quarter results.

Analyst caution meets strong growth

Fortinet's second-quarter revenue reached USD 2.05 billion in the period ended June 30, 2026, while operating profit was USD 689.3 million and net income attributable to common shareholders was USD 606.3 million. The standardized figures show revenue growth of USD 198.3 million from the first quarter, when revenue was USD 1.8496 billion.

The latest reported quarter also carried adjusted earnings momentum in market coverage. MarketBeat cited adjusted earnings per share of USD 0.90 against a USD 0.75 consensus for the latest quarter, alongside fiscal 2026 guidance of USD 3.41 to USD 3.47 per share.

What does the target mean?

Mizuho's USD 160 target sits below the latest primary-market reference of USD 181.91 for October 15, 2026, highlighting the valuation risk despite the company's operating figures. Other analyst actions were more constructive: Investing.com reported on October 13, 2026 that TD Cowen raised its target to USD 225 from USD 215 and maintained a Buy rating.

Three dated Fortinet developments

On July 29, 2026, Fortinet reported the second-quarter figures cited by MarketBeat, including USD 2.05 billion in revenue. On October 2, 2026, Fortinet scheduled a results call for October 28. On October 15, 2026, Mizuho raised its target from USD 138 to USD 160.

Upcoming dates for investors

Fortinet is scheduled to participate in GridSecCon from October 20 to October 23, 2026, according to its corporate website. The next quarterly results call is scheduled for October 28, 2026, at 4:30 p.m. ET, according to the company release.

Stock price and valuation

Fortinet stock was trading at EUR 162.25 at Lang & Schwarz on October 16, 2026 at 10:15 a.m. CEST. The primary Nasdaq listing last stood at USD 181.91 on October 15, 2026 at 4:00 p.m. ET, while the market capitalization was USD 133.5 billion and the 52-week range was USD 73.55 to USD 197.13.

The further course of trading is shown by the continuously updated real-time quote of Fortinet stock.