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Fortinet Hits 52-Week High as AI Security Platform Demand Lifts Q2 Billings 33%
Fortinet shares climbed to a fresh 52-week high of $175.23 on Sept. 21, 2026, before closing at $172.78, up roughly 3% on the session, extending a rally built on accelerating demand for its unified security platform. The company rolled out FortiSOC, a cloud-delivered security operations center embedding agentic AI across SIEM, SOAR, threat intelligence and identity-detection functions, and extended FortiEndpoint with AI visibility, governance and data-loss-prevention capabilities, while deepening its FortiAIGate integration with NVIDIA's accelerated computing stack. In the second quarter of 2026, billings rose 33% year over year to $2.37 billion, revenues grew 26% to $2.05 billion, and product revenues surged 52% to $773 million, with non-GAAP operating margin hitting a second-quarter record of 38% and free cash flow more than tripling to $966 million. Management raised full-year 2026 guidance to $8.02-$8.18 billion for revenues, $9.35-$9.55 billion for billings, and $3.41-$3.47 for non-GAAP EPS, with third-quarter guidance calling for revenues of $2.01-$2.10 billion. Fortinet shares have gained 120.7% year to date, and the Zacks Consensus Estimate for 2026 earnings is $3.42 per share, implying year-over-year growth of 23.91%.
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BlackBerry Set to Report Q2 Fiscal 2027 Results on Sept. 24
BlackBerry Limited is set to report second-quarter fiscal 2027 results on Sept. 24, with the Zacks Consensus Estimate for earnings at 4 cents per share and revenue at $143 million. The company guides non-GAAP EPS to 3-4 cents and fiscal second-quarter revenues to $137-$148 million, with adjusted EBITDA of $20-$30 million and operating cash flow between breakeven and $10 million. Within that total, BlackBerry expects QNX revenues of $70-$75 million and adjusted EBITDA of $16-$21 million, and Secure Communications revenues of $57-$63 million with adjusted EBITDA of $5-$10 million; Licensing revenue is expected at approximately $10 million, up from $6.6 million a year ago. In the last reported quarter, QNX revenues surged 26% year over year to $72 million and Secure Communications revenues rose 24% to $74 million, while annual recurring revenues grew more than 5% to $220 million with a dollar-based net retention rate of 92%. BlackBerry shares are up 157% over the past six months, far outpacing the Internet Software industry's 19% gain, and the stock trades at a forward 12-month price-to-earnings multiple of 42.23 versus the industry's 29.2.
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Netskope Beats Q2 Guidance as Eight Analysts Raise Targets Despite Cash Burn
Netskope reported second-quarter fiscal 2027 results on September 2, 2026, with revenue of $220.5 million beating guidance, annual recurring revenue up 27% year-over-year to $899 million, and remaining performance obligations up 36% to $1.35 billion. After management raised full-year guidance, eight analysts raised price targets the following day, including RBC Capital to $20 from $18, BMO Capital to $18 from $13, JPMorgan to $18 from $16, and Morgan Stanley to $16 from $14, while Stephens initiated coverage at Overweight with a $21 target. Customers generating over $100,000 in annual recurring revenue rose 23% to 1,686, now 87% of total ARR, and 59% of customers use four or more Netskope products, up from 51% a year ago. The bear case rests on operating detail: negative free cash flow of $29.8 million in the quarter, full-year free cash flow margin guidance of only about 2%, a roughly 5% workforce reduction to redirect spending toward AI infrastructure, and third-quarter revenue guidance implying growth slowing to roughly 24% from 29%. CEO Sanjay Beri highlighted that autonomous AI agents can move beyond controlled environments and exploit weaknesses without specific instructions, a challenge requiring substantial ongoing investment with financial benefits potentially arriving only later.