Fortinet (FTNT) PT Lowered to $78 at Evercore ISI

Fortinet (FTNT) PT Lowered to $85 at Jefferies

Jefferies analyst Joseph Gallo lowered the price target on Fortinet (NASDAQ: FTNT) to $85.00 (from $100.00) while maintaining a Hold rating.

The analyst comments "Billings beat cons (15.4% yoy vs cons 11.8%) although the mix was disappointing w/ hardware better (prod grew 12.6% yoy vs 10.3% cons) & services... More

Raymond James Reiterates Market Perform Rating on Fortinet (FTNT)

Raymond James analyst Adam Tindle reiterated a Market Perform rating on Fortinet (NASDAQ: FTNT).

The analyst comments "We maintain our Market Perform rating on FTNT following 2Q results where Billings (key growth metric) was above our view of buyside bogeys prior to the quarter (link), but qualitative commentary poured... More

Morgan Stanley Downgrades Fortinet (FTNT) to Equalweight

Morgan Stanley analyst Keith Weiss downgraded Fortinet (NASDAQ: FTNT) from Overweight to Equalweight with a price target of $78.00 (from $110.00).

The analyst comments: "There has been a meaningful reset of expectations for the Fortinet firewall refresh, which causes us to revise our expectations down.... More

Piper Sandler Downgrades Fortinet (FTNT) to Neutral

Piper Sandler analyst Rob Owens downgraded Fortinet (NASDAQ: FTNT) from Overweight to Neutral with a price target of $90.00 (from $135.00).

The analyst comments: "In many ways, we viewed this as a make-or-break quarter given our thesis of a refresh cycle benefiting... More

KeyBanc Downgrades Fortinet (FTNT) to Sector Weight

KeyBanc analyst Eric Heath downgraded Fortinet (NASDAQ: FTNT) from Overweight to Sector Weight.

The analyst comments: "We downgrade shares of FTNT to Sector Weight following a mixed 2Q and sobering comments on the refresh cycle going forward. Management noted it is already 40-50% of... More

Fortinet (FTNT) Tops Q2 EPS by 5c, offers guidance

Fortinet (NASDAQ: FTNT) reported Q2 EPS of $0.64, $0.05 better than the analyst estimate of $0.59. Revenue for the quarter came in at $1.63 billion versus the consensus estimate of $1.63 billion.

GUIDANCE:

Fortinet sees Q3 2025 EPS of $0.62-$0.64, versus the consensus of $0.61. Fortinet sees Q3... More

Fortinet launches new cloud services for identity and storage

Fortinet Inc. (NASDAQ: FTNT) announced an expansion of its FortiCloud platform with three new services targeting enterprise identity management, file storage, and communications.

The cybersecurity company introduced FortiIdentity, a cloud-delivered identity and access management solution that provides single sign-on, multifactor authentication, and identity federation capabilities. The service supports FortiToken... More