最新ニュース Fortinet (NASDAQ:FTNT) 株価情報

Fortinet

Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.

News

Price Target

Pre-Market Outlook

Markets

Analyst Ratings

CTSH

FTNT

ICHR

OMGA

PGNY

UBER

トップ・ウォール街のアナリストたちは、これらの銘柄に対する見通しを変更しました。リーディング・アナリストのレーティング変更の総見については、アップグレードやダウングレードを含むすべての情報については、当社のアナリストのレーティングページをご覧ください。

ウーバー株上昇相場を示唆　アナリストが解説

Fortinet Inc

Citigroup analyst Fatima Boolani maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Neutral and raises the price target from $100 to $101.

Citigroup Maintains Neutral on Fortinet, Raises Price Target to $101

Popular generative AI security analyst can now be used to speed cybersecurity investigations and simplify threat hunting across a growing list of native and third-party sources
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sentinelone.com&amp;esheet=54181200&amp;newsitemid=20250116170215&amp;lan=en-US&amp;anchor=SentinelOne&amp;index=1&amp;md5=3d2cb4168e3fa6c2b9fa83a61b6271f3">SentinelOne</a>&#xAE; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) today announced another first when it comes to generative AI and cybersecurity – the company's award winning <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sentinelone.com%2Fplatform%2Fpurple%2F&amp;esheet=54181200&amp;newsitemid=20250116170215&amp;lan=en-US&amp;anchor=Purple+AI&amp;index=2&amp;md5=02bbe590bcf6e0ecf51c4f9b3cd4e38c">Purple AI</a> security analyst can now be used with data from a growing list of the most popular third-party security offerings. Initial products supported include the Zscaler Zero Trust Exchange&#x2122; platform, Palo Alto Networks Firewall, Okta, Proofpoint TAP, Fortinet FortGate, and Microsoft Office 365. It's the latest innovation from SentinelOne to benefit from the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sentinelone.com%2Fplatform%2F&amp;esheet=54181200&amp;newsitemid=20250116170215&amp;lan=en-US&amp;anchor=Singularity%26%238482%3B+Platform%26%238217%3Bs&amp;index=3&amp;md5=4cd91c6b2e5cf4db2c9bc33422cbdf0a">Singularity&#x2122; Platform's</a> advanced data and AI capabilities, and extends the speed, power and value of Purple AI to quickly stop today's increasingly sophisticated attacks.
The company also introduced multilingual support for Purple AI, complementing its popular English-language version with new support for natural language queries and summaries in Spanish, French, German, Italian, Dutch, Arabic, Japanese, Korean, Thai, Malay, Indonesian and more.

MSFT

OKTA

PANW

SentinelOne Brings The Power Of Purple AI To Zscaler, Okta, Palo Alto Networks, Proofpoint, Fortinet And Microsoft Data

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Baird analyst Peter Arment downgraded the rating for General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from Outperform to Neutral and lowered the price target from $345 to $283. General Dynamics shares closed at $263.67 on Monday. <a href="https://www.benzinga.com/quote/GD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James analyst Adam Tindle downgraded the rating for Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) from Outperform to Market Perform. Fortinet shares closed at $93.83 on Monday. <a href="https://www.benzinga.com/quote/FTNT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley analyst Stephen Grambling downgraded Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) from Overweight to Equal-Weight and cut the price target from $54 to $51. Las Vegas Sands shares closed at $46.87 on Monday. <a href="https://www.benzinga.com/quote/LVS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Seaport Global analyst Jeff Cantwell downgraded the rating for Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) from Buy to Neutral. Mastercard shares closed at $504.91 on Monday. <a href="https://www.benzinga.com/quote/MA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities analyst Salvator Tiano downgraded Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>) from Neutral to Underperform and slashed the price target from $63 to $54. Archer-Daniels Midland er shares closed at $52.12 on Monday. <a href="https://www.benzinga.com/quote/ADM/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying MA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="580" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89-1024x580.png" alt="" class="wp-image-732521" style="width:551px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89-1024x580.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89-768x435.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/14090807/image-89.png 1122w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/25/01/42965686/top-2-industrials-stocks-that-may-fall-off-a-cliff-in-january">Top 2 Industrials Stocks That May Fall Off A Cliff In January</a></li>
</ul>

Downgrades

Trading Ideas

This Mastercard Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Tuesday

Raymond James analyst Adam Tindle downgrades Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) from Outperform to Market Perform.

Raymond James Downgrades Fortinet to Market Perform

China-linked <a href="https://www.benzinga.com/24/12/42713217/nine-telecommunication-companies-hacked-as-part-of-salt-typhoon">Salt Typhoon hackers </a>breached nine companies, <a href="https://www.benzinga.com/24/12/42477300/russian-state-backed-hackers-target-ukrainian-military-devices-via-spacexs-starlink-microsoft-report-reveals">Russian-backed groups</a> targeted Ukrainian military devices via Starlink, and <a href="https://www.benzinga.com/24/12/42712841/google-chrome-users-beware-this-holiday-season-cyber-security-firms-browser-extension-hijacked-by-attackers">Cyberhaven&#8217;s browser extension</a> fell victim to hijacking.
These headlines kept newsrooms abuzz during the holiday season. Evidently, cybercrimes are here to stay and getting increasingly sophisticated to boot, thus necessitating larger investments in <a href="https://www.benzinga.com/topic/cybersecurity">cybersecurity</a> measures.
Here are three ETFs with exposure to cybersecurity companies for&nbsp;investors&nbsp;who don&#8217;t want to choose specific stocks, but want to reap the benefits of a hot market:
Global X Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUG#NASDAQ">BUG</a>) boasts assets of $806.52 million under management and an expense ratio of 0.50%. Its impressive portfolio of stocks includes the biggest names in the cybersecurity sector across the U.S., Israel, Japan and South Korea. 
Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), Check Point Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>),  Zscalar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>), Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>), and CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) are among the top 10 holdings, with 6.92%, 6.76%, 5.85%, 5.75%, 5.68%, and 5.14% allocations, respectively. Coming to some numbers, a Return on Equity of 17.80% and a drop in the P/E ratio from 48.06 in 2023 to 33.93 in 2024 might interest investors looking to cash in on the rising trend in cybersecurity.
The "O.G." cybersecurity-focused fund, the Amplify Cybersecurity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HACK#NYSE">HACK</a>) was the first ETF to hop on the cybersecurity niche bandwagon. It derives its investment strategies from the Nasdaq ISE Cyber Security Select Index, and has $1.93 billion assets under management. 81.5% of the fund is dedicated to large-cap ($10 billion and more) stocks. 
Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), with its plethora of cybersecurity products, currently holds the biggest piece of the pie at almost 14%. Cisco Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), Palo Alto, CrowdStrike, and Fortinet also hold significant portions of the fund. The ETF's expense ratio is 0.60%.
iShares Cybersecurity and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>) is owned by one of the largest financial institutions in the world, BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>). With an expense ratio of 0.47%, it is relatively cheaper than its peers. Though not entirely cybersecurity-focused, the fund with an AUM of $930 million, includes significant investments in security plays like CyberArk, Fortinet, CrowdStrike, Check Point and Palo Alto. The fund mirrors the NYSE FactSet Global Cyber Security Index, which is composed of cybersecurity companies. 
Why Investing in Cybersecurity is Important
The growth in the number of generative A.I. tools and platforms is opening doors for information technology reinvention. Simultaneously, cybercriminals have been adopting the same upgraded technology to up their games. 
In May, the FBI warned that attackers are now using A.I. tools to upgrade phishing methods. "As technology continues to evolve, so do cybercriminals&#8217; tactics. Attackers are leveraging AI to craft highly convincing voice or video messages and emails to enable fraud schemes against individuals and businesses alike," said FBI Special Agent in Charge Robert Tripp.
&#8220;These sophisticated tactics can result in devastating financial losses, reputational damage, and compromise of sensitive data," read an <a href="https://www.fbi.gov/contact-us/field-offices/sanfrancisco/news/fbi-warns-of-increasing-threat-of-cyber-criminals-utilizing-artificial-intelligence">excerpt</a> from its note to media last May.
Moreover, Statista <a href="https://www.statista.com/forecasts/1280009/cost-cybercrime-worldwide">projects </a>that the global &#8220;Estimated Cost of Cybercrime&#8221; will rise consistently between 2024 and 2029, increasing by $6.4 trillion (69.41%) to reach a peak of $15.63 trillion by 2029.
With critical infrastructure, government data, education, and personal data caught in the crosshairs, investments in cybersecurity have become the need of the hour, bringing exponential growth potential to this market.
See Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/01/42823961/indexperts-kicks-off-2025-with-3-etfs-offering-growth-stability-income-during-market-volatility">Indexperts Kicks Off 2025 With 3 ETFs Offering Growth, Stability, Income During Market Volatility</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

Specialty ETFs

Emerging Market ETFs

Tech

ETFs

AVGO

CHKP

CRWD

CSCO

CYBR

HACK

IHAK

Cybercrime Surge Fuels Demand For Cybersecurity ETFs

WIIM

Fortinet shares are trading higher after Piper Sandler upgraded the stock from Neutral to Overweight and raised its price target from $100 to $120.

Across the recent three months, 37 analysts have shared their insights on Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">10</td>
<td align="right">11</td>
<td align="right">14</td>
<td align="right">2</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">6</td>
<td align="right">9</td>
<td align="right">10</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $96.22, a high estimate of $120.00, and a low estimate of $68.00. This upward trend is apparent, with the current average reflecting a 15.19% increase from the previous average price target of $83.53.
<img src="https://www.benzinga.com/files/images/story/2025/1736164840_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Fortinet. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Rob Owens</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$120.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Gabriela Borges</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$114.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Joseph Gallo</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$105.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Eric Heath</td>
<td>Keybanc</td>
<td>Announces</td>
<td>Overweight</td>
<td>$115.00</td>
<td>-</td>
</tr>
<tr>
<td>Adam Borg</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$103.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Brian Essex</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$105.00</td>
<td>$99.00</td>
</tr>
<tr>
<td>Gregg Moskowitz</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Underperform</td>
<td>$78.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Joel Fishbein</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$105.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Patrick Colville</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$110.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Buy</td>
<td>$100.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Tal Liani</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$104.00</td>
<td>$87.00</td>
</tr>
<tr>
<td>Daniel Ives</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$105.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Rob Owens</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$100.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Shaul Eyal</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$105.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Keith Bachman</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$100.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Dan Bergstrom</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$97.00</td>
<td>$82.00</td>
</tr>
<tr>
<td>Andrew Nowinski</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$85.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Adam Borg</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$90.00</td>
<td>$84.00</td>
</tr>
<tr>
<td>Jonathan Ruykhaver</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Neutral</td>
<td>$95.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$100.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Hamza Fodderwala</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$106.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Brad Zelnick</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$90.00</td>
<td>$77.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Stephen Bersey</td>
<td>HSBC</td>
<td>Raises</td>
<td>Buy</td>
<td>$111.00</td>
<td>$83.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Buy</td>
<td>$90.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Saket Kalia</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$95.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Adam Tindle</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Roger Boyd</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$83.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Daniel Ives</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$90.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Patrick Colville</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$85.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Rob Owens</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$80.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$88.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Buy</td>
<td>$85.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>Yi Fu Lee</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Neutral</td>
<td>$88.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Joel Fishbein</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$85.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Gregg Moskowitz</td>
<td>Mizuho</td>
<td>Maintains</td>
<td>Underperform</td>
<td>$68.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Shaul Eyal</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$90.00</td>
<td>$75.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Fortinet. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Fortinet compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Fortinet's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Fortinet's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/FTNT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Fortinet analyst ratings.</a>
<h2>Delving into Fortinet's Background</h2>
Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.
<h3>Fortinet: Financial Performance Dissected</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Revenue Growth: Fortinet's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 13.0%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Fortinet's net margin excels beyond industry benchmarks, reaching 35.8%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Fortinet's ROE stands out, surpassing industry averages. With an impressive ROE of 90.26%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Fortinet's ROA stands out, surpassing industry averages. With an impressive ROA of 6.39%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Fortinet's debt-to-equity ratio surpasses industry norms, standing at 1.09. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. <a href="https://www.benzinga.com/premium/ideas/turning-point-trader-checkout-2/?t=Tu1tu3arja3be22tu36&amp;utm_source=benzinga-insights">Click here for urgent details</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

37 Analysts Assess Fortinet: What You Need To Know

Piper Sandler analyst Rob Owens upgrades Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) from Neutral to Overweight and raises the price target from $100 to $120.

Upgrades

Piper Sandler Upgrades Fortinet to Overweight, Raises Price Target to $120

Goldman Sachs analyst Gabriela Borges maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Buy and raises the price target from $100 to $114.

Goldman Sachs Maintains Buy on Fortinet, Raises Price Target to $114

Jefferies analyst Joseph Gallo maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Hold and raises the price target from $95 to $105.

Jefferies Maintains Hold on Fortinet, Raises Price Target to $105

35 analysts have shared their evaluations of Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">9</td>
<td align="right">10</td>
<td align="right">14</td>
<td align="right">2</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">4</td>
<td align="right">4</td>
<td align="right">9</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">4</td>
<td align="right">5</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Fortinet, presenting an average target of $94.46, a high estimate of $115.00, and a low estimate of $68.00. Observing a 15.28% increase, the current average has risen from the previous average price target of $81.94. 
<img src="https://www.benzinga.com/files/images/story/2024/1734613221_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Fortinet. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Eric Heath</td>
<td>Keybanc</td>
<td>Announces</td>
<td>Overweight</td>
<td>$115.00</td>
<td>-</td>
</tr>
<tr>
<td>Adam Borg</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$103.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Brian Essex</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$105.00</td>
<td>$99.00</td>
</tr>
<tr>
<td>Gregg Moskowitz</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Underperform</td>
<td>$78.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Joel Fishbein</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$105.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Patrick Colville</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$110.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Buy</td>
<td>$100.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Tal Liani</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$104.00</td>
<td>$87.00</td>
</tr>
<tr>
<td>Daniel Ives</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$105.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Rob Owens</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$100.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Shaul Eyal</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$105.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Keith Bachman</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$100.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Dan Bergstrom</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$97.00</td>
<td>$82.00</td>
</tr>
<tr>
<td>Andrew Nowinski</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$85.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Adam Borg</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$90.00</td>
<td>$84.00</td>
</tr>
<tr>
<td>Jonathan Ruykhaver</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Neutral</td>
<td>$95.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$100.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Hamza Fodderwala</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$106.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Brad Zelnick</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$90.00</td>
<td>$77.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Stephen Bersey</td>
<td>HSBC</td>
<td>Raises</td>
<td>Buy</td>
<td>$111.00</td>
<td>$83.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Buy</td>
<td>$90.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Saket Kalia</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$95.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Adam Tindle</td>
<td>Raymond James</td>
<td>Raises</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Roger Boyd</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$83.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Daniel Ives</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$90.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Patrick Colville</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$85.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Rob Owens</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$80.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$88.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Buy</td>
<td>$85.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>Yi Fu Lee</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Neutral</td>
<td>$88.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Joel Fishbein</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$85.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Gregg Moskowitz</td>
<td>Mizuho</td>
<td>Maintains</td>
<td>Underperform</td>
<td>$68.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Shaul Eyal</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$90.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Saket Kalia</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$85.00</td>
<td>$74.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Fortinet. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Fortinet compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Fortinet's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Fortinet's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/FTNT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Fortinet analyst ratings.</a>
<h2>Get to Know Fortinet Better</h2>
Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.
<h3>Financial Insights: Fortinet</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Over the 3 months period, Fortinet showcased positive performance, achieving a revenue growth rate of 13.0% as of 30 September, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Fortinet's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 35.8%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Fortinet's ROE excels beyond industry benchmarks, reaching 90.26%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Fortinet's ROA stands out, surpassing industry averages. With an impressive ROA of 6.39%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a high debt-to-equity ratio of 1.09, Fortinet faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. <a href="https://www.benzinga.com/premium/ideas/turning-point-trader-checkout-2/?t=Tu1tu3arja3be22tu36&amp;utm_source=benzinga-insights">Click here for urgent details</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Outlook: Fortinet Through The Eyes Of 35 Analysts

Keybanc analyst Eric Heath upgrades Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) from Sector Weight to Overweight and announces $115 price target.

Keybanc Upgrades Fortinet to Overweight, Announces $115 Price Target

ADBE

ADSK

AGYS

APPN

ASAN

BILL

BTCS

BTDR

BTOG

CDNS

CLSK

CWAN

DDOG

DOCU

DSGX

ESTC

ETWO

EVCM

EXFY

FICO

FRSH

GREE

GRYP

HTCR

HUBS

INTU

KVYO

LMFA

LSPD

MANH

MAWSON INFRSTRUCTURE GRP by Mawson Infrastructure Group Inc.

MIGI

NCTY

NICE

NTNX

PATH

PCOR

PRCH

RAMP

RBRK

SDIG

SNPS

TEAM

TRAK

TZUP

UPLD

Shares of stocks in the broader software sector are trading lower amid overall market weakness following the Fed's rate decision to cut rates by 25 basis points.

Stifel analyst Adam Borg maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Hold and raises the price target from $90 to $103.

Stifel Maintains Hold on Fortinet, Raises Price Target to $103

JP Morgan analyst Brian Essex maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Neutral and raises the price target from $99 to $105.

JP Morgan Maintains Neutral on Fortinet, Raises Price Target to $105

Mizuho analyst Gregg Moskowitz maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Underperform and raises the price target from $68 to $78.

Mizuho Maintains Underperform on Fortinet, Raises Price Target to $78

Financial giants have made a conspicuous bearish move on Fortinet. Our analysis of options history for Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $154,235, and 5 were calls, valued at $280,621.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $105.0 for Fortinet over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Fortinet's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Fortinet's substantial trades, within a strike price spectrum from $75.0 to $105.0 over the preceding 30 days.
<h3>Fortinet 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734023823_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$25.9</td>
<td>$25.0</td>
<td>$25.0</td>
<td>$97.50</td>
<td>$127.5K</td>
<td>0</td>
<td align="right">51</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.48</td>
<td>$1.47</td>
<td>$1.47</td>
<td>$105.00</td>
<td>$73.5K</td>
<td>2.5K</td>
<td align="right">686</td>
</tr>
<tr>
<td>FTNT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$5.4</td>
<td>$5.35</td>
<td>$5.4</td>
<td>$95.00</td>
<td>$62.1K</td>
<td>152</td>
<td align="right">115</td>
</tr>
<tr>
<td>FTNT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$4.05</td>
<td>$3.85</td>
<td>$3.9</td>
<td>$77.50</td>
<td>$58.6K</td>
<td>1.3K</td>
<td align="right">512</td>
</tr>
<tr>
<td>FTNT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$6.35</td>
<td>$6.2</td>
<td>$6.2</td>
<td>$97.50</td>
<td>$33.4K</td>
<td>104</td>
<td align="right">436</td>
</tr>
</tbody>
</table>

<h3>About Fortinet</h3>
Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.
After a thorough review of the options trading surrounding Fortinet, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of Fortinet</h3>
<ul>
<li>With a volume of 1,061,058, the price of FTNT is up 0.17% at $98.21. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 54 days.</li>
</ul>
<h3>Professional Analyst Ratings for Fortinet</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $101.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Baird has decided to maintain their Outperform rating on Fortinet, which currently sits at a price target of $100. 
&#x2A; Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Fortinet, targeting a price of $105. 
&#x2A; An analyst from Wedbush has decided to maintain their Outperform rating on Fortinet, which currently sits at a price target of $105. 
&#x2A; Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Fortinet, targeting a price of $110. 
&#x2A; Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Fortinet with a target price of $85. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Fortinet, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Fortinet Unusual Options Activity

ADEA

BRZE

BTBT

CFLT

CIFR

MNDY

MSTR

NVNI

ORCL

QUBT

RIOT

SOUN

WDAY

WULF

Shares of stocks in the broader software sector are trading higher. Some names may be moving following better-than-expected earnings from Salesforce and Okta.

Morgan Stanley analyst Keith Weiss noted that <a target="_blank" href="https://www.benzinga.com/topic/cybersecurity" rel="noreferrer noopener">cybersecurity</a> remains a top spending priority for organizations globally.
Weiss noted longer-term tailwinds are intact as recent technological advancements (GenAI, Public Cloud) expand the attack surface area, creating new product opportunities for securing AI and leveraging AI to automate security operations.
In the near term, the analyst flagged risks investors might not fully appreciate heading into 2025.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42272073/sofi-tech-could-become-american-express-of-fintech-analyst-says" rel="noreferrer noopener">This Analyst Downgrades Upstart But Says SoFi Tech Could Become &#8216;American Express&#8217; Of Fintech</a>
While the spending environment is showing signs of stability post-US elections, budgets remain tight, with CIOs and CISOs looking to consolidate multiple vendors. Some of the most significant security players (Palo Alto Networks, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/panw#NASDAQ">PANW</a>) and CrowdStrike Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>)) have only recently increased near-term discounting and &#8220;platformization&#8221; efforts to drive consolidation and accelerate share gains. This is likely to have a broader negative pricing impact in 2025.&nbsp;&nbsp;
The average security company derives ~7% of sales from the U.S. Public Sector. The Federal government spent over $20 billion annually on security products and services (+10% CAGR over the last 5 years), which has been a significant source of growth for security vendors in recent years.
With the incoming U.S. administration proposing substantial cuts to federal spending through initiatives like DOGE (Department of Government Efficiency) and recent reports of downsizing CISA (Cybersecurity and Infrastructure Security Agency), this could be a headwind to IT/security budgets next year.&nbsp;&nbsp;&nbsp;
After a significant rise in 2023, there are emerging signs that ransomware attacks may be peaking. Security stocks have outperformed broader software driven by multiple expansions on negative estimate revisions.
Current security valuations are above the broader software and longer-term average, reflecting improving future growth rates and a more balanced risk-reward.&nbsp;&nbsp;
Weiss sought idiosyncratic opportunities in companies with emerging product cycles, particularly those aligned with GenAI. This includes Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), which has a chance in Edge AI inference.
The analyst also favors&nbsp;Fortinet, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) and Palo Alto Networks, given the network security refresh in the second half of fiscal 2025 and 2026. Turnaround stories such as Okta, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) also commanded the analyst&#8217;s attention.
Weiss noted Fortinet as a multi-year positive revisions story with firewall refresh demand sustaining through 2027 and higher software attach rates driving stronger-for-longer recurring services growth from the refresh cycle.
The analyst favored Okta due to the stabilizing demand environment, the easing of competitive headwinds, and the beginning of newer product cycles.
Weiss also flagged Varonis Systems, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NASDAQ">VRNS</a>) as the SaaS transition tailwind drives a further acceleration in ARR growth for the next 2-3 quarters and a stronger position as a GenAI enabler becomes more apparent given the rising priority of data security/governance.
Weiss upgraded Cloudflare from Equal-Weight to Overweight and raised the <a target="_blank" href="https://www.benzinga.com/quote/NET/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$92&nbsp;to&nbsp;$130</a>. The analyst upgraded Okta from Equal-Weight to Overweight and raised the <a target="_blank" href="https://www.benzinga.com/quote/OKTA/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$92&nbsp;to&nbsp;$97</a>.
In the longer term, Weiss continues to favor platform consolidators Palo Alto Networks and CrowdStrike Holdings but noted a minor upside in the near term as both deliberately discounted to consolidate market share in the longer term. Multiples for both stocks are above historical averages.
The analyst flagged a more favorable setup for both in the second half of fiscal 2025.
Price Actions: NET stock is up 6.52% at $106.34 at the last check on Monday. OKTA is up 3.79%.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/24/12/42265010/amazon-and-walmart-dominate-black-friday-as-online-sales-soar-146" target="_blank" rel="noreferrer noopener">Amazon And Walmart Dominate Black Friday As Online Sales Soar 14.6%</a></li>
</ul>
Image via Shutterstock

Movers

VRNS

Generative AI Backed Cybersecurity Stocks Cloudflare, Okta Have Near-Term Upside: Analyst

News Summary NHL Vancouver Canucks and <a href="https://www.globenewswire.com/Tracker?data=1RElFOHHM9Hrx35IZLwu_gN-thaORWtVvwSCxwWtrYHpQqykF_Ur3T9fyHuvsAbWKUneYheRgs8StIhaHMKl3vzAu1fcjUaii08MUgKk8MxTCqHB4RPPFEjRm0fmLCmb">Fortinet</a>&#xAE; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), the global cybersecurity leader driving the convergence of networking and security, today announced that Fortinet has become the new Preferred Partner for the 2024–2025 season. Canucks Sports &amp; Entertainment (CSE) has chosen Fortinet's industry-leading Security Fabric platform to reduce complexity and streamline the identification and remediation of network and security issues across the group's facilities.
CSE is one of the premier sports and entertainment companies in North America. In support of their goal to create inspiring moments and unforgettable experiences for their fans, CSE has deployed several Fortinet solutions at its central data center to help secure the <a href="https://www.globenewswire.com/Tracker?data=Kb7OfT7oxX0jDuicvmh8cJt8RPHhXT60Lpc12UOj4m83LO-dI6Kp7DrnG1lBK2IQGGvmLwXZSENl0V5AEvshqw==">Rogers Arena</a>, home to <a href="https://www.globenewswire.com/Tracker?data=qTxrrHUC31LUokN4-g52kiu0jcmqz41L2Z6-unaABuy76R_fTeafGWzUuoJ4p1nEQYDVIio48fZwkiUNgp8Nit1t6QHYVOAOtH4yRlV5Il8=">NHL Vancouver Canucks</a> and its fans, the Canucks Training Camp facilities, and the eSports team <a href="https://www.globenewswire.com/Tracker?data=9GSVUwmNZHbtHDEyyqngYdTwdg_2KYTVBwYXGZ8NEC6ruv-G5oTen4KSS1kXPrjhYucMU-_YlVzK2VwSEZevAzWfFgBQA7YPkcIu87sDA9Y=">Vancouver Surge</a>.

Vancouver Canucks Hockey Team Announces Fortinet As Its Preferred Partner, Selects Fortinet Security Fabric Platform And Secure SD-WAN To Reduce Complexity And Streamline The Identification And Remediation Of Network And Security Issues Across The Group's Facilities.

Raymond James downgraded Fortinet (FTNT) to Market Perform from Outperform without a price target The stock is up nearly 70% since the company's bi...

Fortinet downgraded to Market Perform from Outperform at Raymond James

Fortinet (FTNT – Research Report) received a Hold rating and price target from Raymond James analyst Adam Tindle today. The company's shares closed...

Fortinet (FTNT) was downgraded to a Hold Rating at Raymond James

WE are looking for a bottom in what appears to be a sideways wave 4 to then complete Intermediate wave (3) at above 100$.

Fortinet Inc. Stocks Elliott Wave Technical Analysis - Tuesday, January 14

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need...

Visa upgraded, MasterCard downgraded: Wall Street's top analyst calls

Fortinet downgraded due to uncertainty of firewall 'supercycle': Raymond James

Morgan Stanley named MongoDB (MDB) as a "Top Pick" in North American software, arguing that fading headwinds from optimizations, combined with lowe...

MongoDB named a 'Top Pick' in North American software at Morgan Stanley

AMID: Multi-Factor Mid-Cap ETF With Encouraging Results

Citi raised the firm's price target on Fortinet (FTNT) to $101 from $100 and keeps a Neutral rating on the shares as part of a 2025 systems softwar...

Fortinet price target raised to $101 from $100 at Citi

Catalyst Watch: Netflix earnings, Monster Beverage event, drug data, and quantum volatility

Comments

Fortinet

ニュース

最新ニュース Fortinet (NASDAQ:FTNT) 株価情報

水曜日, 8 07, 2024

こんな人も見ています

ニュース

パートナーシップ

ベンジンガ・グローバル