Fortinet stock took a sharp downturn on October 29, 2026. Earnings outlooks were poor, and revenue growth was stagnant. Service revenue growth hit 13%, the weakest in several years. This led to a big two-day drop in the stock price. Barron's all reported the decline. BofA Securities lowered its rating on Fortinet, adding to concerns. The stock's drop highlights difficult circumstances in the software sector. Other companies like ServiceNow are also struggling.