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There's a Cybersecurity Stock on Josh Brown's List that's Pulling Back. How He's Trading It
The cybersecurity company topped earnings and revenue estimates, but investors focused on softer billings growth and a trimmed service revenue forecast.
- On Wednesday, October 28, 2026, Fortinet beat Wall Street expectations and raised its full-year revenue outlook, yet shares plummeted 26% in premarket trading on Thursday, October 29, 2026.
- Investors are selling off security names in sympathy, punishing companies for mere earnings beats, as peers like F5 also fell 20% following an earnings beat on October 27, 2026.
- Fortinet reported adjusted EPS of 91 cents, topping the 86 cents expected, with total revenue of $2.08 billion; management trimmed its full-year service revenue forecast to $5.15 billion to $5.17 billion.
- Founder and CEO Ken Xie raised billings guidance for the third time this year, and the company increased its share buyback program by $1.2 billion, even as service revenue growth slowed to 13%.
- Current market reactions suggest security stocks are priced for perfection, leaving investors awaiting upcoming reports from Palo Alto Networks to test whether the sector can sustain earnings momentum.
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The invoice totaled 2,34 billion dollars, a growth of 29% year-on-year, leading the company to review the forecast for the year 2026 for the third time this year.
·Lisboa, Portugal
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Global cybersecurity firm Fortinet recorded revenue in the third quarter of this year that increased by 20% compared to the same period last year. According to Fortinet on the 2nd, third-quarter revenue was $2.08 billion (approximately 2.7872 trillion won), a 20% increase from the same period last year. Product revenue rose 37% to $765 million (approximately 1.0251 trillion won). The operating profit margin under U.S. Generally Accepted Accounti…
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Total News Sources15
Leaning Left1Leaning Right4Center4Last UpdatedBias Distribution45% Center, 44% Right
Bias Distribution
- 45% of the sources are Center, 44% of the sources lean Right
45% Center
11%
C 45%
R 44%
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