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Fortinet (NASDAQ:FTNT) 株価情報, 空売り情報

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.

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Fortinet Inc

FORTINET ORD

Guidance

Fortnet Sees FY24 Adj. EPS $2.20-$2.28 Vs $2.04 Est.; Revenue $5.856B-$5.916B Vs $5.861B Est.

Fortinet Sees Q4 Adj. EPS $0.58-$0.62; Revenue $1.56B-$1.62B

Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) reported quarterly earnings of $0.63 per share which beat the analyst consensus estimate of $0.52 by 21.15 percent. The company reported quarterly sales of $1.508 billion which beat the analyst consensus estimate of $1.480 billion by 1.89 percent. This is a 12.99 percent increase over sales of $1.335 billion the same period last year.

Earnings

Earnings Beats

Fortinet Q3 2024 Adj. EPS $0.63 Beats $0.52 Estimate, Sales $1.508B Beat $1.480B Estimate

<a href="https://www.globenewswire.com/Tracker?data=9xVq_WV8Cwrw-GQIN-OpeODlFqvo34X1J1RVXMDi2DG2vAMW7Xe_n3g03TXZGzZc3gZ-nVUGHIQk_LJqxEASluDZ42VaA5a94CE2y0w3fiXJe2FcMYHlDWsaGBuOn_ZnkuROGB2kxyn7YilUUXnxvw==">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 the expansion of generative AI (GenAI) capabilities across its product portfolio with the launch of two new integrations with FortiAI, Fortinet's AI-powered security assistant that uses GenAI to guide, simplify, and automate security analyst activities.
&nbsp;

Fortinet Continues To Expand Generative AI Across Its Portfolio With Two New Additions To Simplify Security Operations

Invesco has unveiled a new series of thematic exchange-traded funds (ETFs) that focus on artificial intelligence, cybersecurity, and defense sectors. These funds aim to leverage emerging trends within these industries.
What Happened: The newly introduced ETFs, named Invesco Artificial Intelligence Enablers, Cybersecurity, and Defence Innovation Ucits, are based on benchmarks crafted by Kensho, a division of S&amp;P Global Indices. Kensho utilizes natural language processing to pinpoint companies with significant involvement in each theme, categorizing them into &#8220;core&#8221; and &#8220;non-core&#8221; groups, Financial Times<a href="https://www.ft.com/content/476d3e81-cbd2-4484-8fb5-4a074dcaa97c"> reported</a> on Thursday.
As per Invesco, core companies generate a substantial portion of their revenue from products and services aligned with these themes, while non-core companies provide essential inputs without focusing on end products. The AI enablers strategy targets firms advancing AI technology and infrastructure, whereas the cybersecurity ETF invests in companies protecting enterprises from unauthorized electronic access. The defense fund provides exposure to companies developing advanced weapons and defensive systems
Here are a few ETFs and how they fared in the past year, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>:
Artificial Intelligence
<ul>
<li>iShares U.S. Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) increased 45.40% over the year with holdings like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).</li>
<li>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>), with similar exposure, rose 43.17%.</li>
<li>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTX#NYSE">FTX</a>), which gives exposure to Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), increased 45.59%.</li>
</ul>
Cybersecurity
<ul>
<li>First Trust NASDAQ Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) increased 38.08%. Its holdings include Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>).</li>
<li>Amplify Cybersecurity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HACK#NYSE">HACK</a>) rose 39.57%. Along with Broadcom, and Cisco, the ETF&#8217;s major holdings also include Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>), and General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>).</li>
<li>iShares Cybersecurity &amp; Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>) with exposure to companies such as SentinelOne, Inc. Class A (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>), and Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), rose 33.95%.</li>
</ul>
Defense
<ul>
<li>iShares US Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) with exposure to companies such as General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) increased 33.86%.</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) with exposure to companies such as Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Lockheed Martin Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) increased by 43.05%.</li>
<li>SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) was up by 34.86%. It gives exposure to Axon Enterprise, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXN#NASDAQ">AXN</a>), L3Harris Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>).</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41794596/bitcoin-ethereum-dogecoin-slingshot-to-the-moon-after-trump-victory-but-sharp-correction-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slingshot To The Moon After Trump Victory But &#8216;Sharp&#8217; Correction Might Be In Store: Analyst Views BTC Between $80-90K By End Of Year</a>
Why It Matters: The launch of these ETFs by Invesco comes at a time when thematic investing is<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41713236/donald-trumps-return-to-white-house-could-propel-these-etfs-to-new-highs"> gaining traction among investors</a> looking to capitalize on specific industry trends. The focus on artificial intelligence, cybersecurity, and defense aligns with growing global interest in these areas, driven by technological advancements and increasing security concerns.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood&#8217;s Latest Shake-up: Dumps Palantir And Jack Dorsey&#8217;s Block Along With Tesla, Buys Amazon And Meta</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Invesco

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iShares Dow Jones US Aerospace & Defense Index Fund

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Invesco Launches New ETFs Targeting AI, Cybersecurity, And Defense. Here's How Some Of Their Peers Have Performed In The Past Year

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MAWSON INFRSTRUCTURE GRP by Mawson Infrastructure Group Inc.

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ZETA

Shares of software companies are trading higher in sympathy with overall market strength after Donald Trump was elected president of the United States.

Fortinet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) will be reporting its third-quarter earnings on Thursday. Wall Street expects 52 cents in EPS and $1.48 billion in revenues as the company reports<a href="https://www.benzinga.com/calendars/earnings?tickers=FTNT" target="_blank" rel="noreferrer noopener"> after market hours</a>.
The stock is up 60.85% over the past year, and 39.47% year-to-date.
<h2 class="wp-block-heading">Fortinet Stock Rides Cyber Demand Boom With AI &amp; IAM Focus</h2>
Fortinet's stock performance has been bolstered by its strong positioning in the expanding cybersecurity market, particularly as demand for identity and access management (IAM) solutions grows. 
With the IAM market <a href="https://www.investors.com/news/technology/cybersecurity-stocks/">projected</a> to double from $23.5 billion in 2024 to $47.1 billion by 2028 by IDC, Fortinet's integrated Security Fabric and AI-powered offerings, including FortiGuard Labs and FortiAI, have resonated strongly with enterprise customers. These technologies enable comprehensive, scalable security, simplifying complex threat landscapes, especially with the rising shift to public cloud deployments. 
Fortinet's commitment to addressing the critical cybersecurity skills gap through its Training Institute, aiming to train 1 million professionals by 2026, further solidifies its industry leadership. 
As it heads into third-quarter earnings, Fortinet's proactive approach to innovation and workforce development enhances its long-term growth potential amid a rapidly growing $500.7 billion cybersecurity market <a href="https://www.grandviewresearch.com/industry-analysis/cyber-security-market#:~:text=What%20is%20the%20cyber%20security,USD%20500.70%20billion%20by%202030.">forecast</a> through 2030.
Let&#8217;s look at what the charts indicate for Fortinet stock and how the stock currently maps against Wall Street estimates.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41462096/crowdstrike-and-fortinet-partner-to-supercharge-cybersecurity-details">CrowdStrike And Fortinet Partner To Supercharge Cybersecurity: Details</a>
<h2 class="wp-block-heading">Fortinet Stock Chart Strongly Bullish Ahead Of Q3 Earnings&nbsp;</h2>
Fortinet stock is currently facing selling pressure despite its share price being above its five, 20 and 50-day exponential moving averages, suggesting the overall trend remains strongly bullish.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="625" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06123203/Screenshot-2024-11-06-at-11.01.29-PM.png" alt="" class="wp-image-633342" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06123203/Screenshot-2024-11-06-at-11.01.29-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06123203/Screenshot-2024-11-06-at-11.01.29-PM-300x218.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110624&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
However, with Fortinet stock trading at $80.51, below the 20-day simple moving average (SMA) of $80.71, some short-term bearish momentum prevails. 
The price is above the eight-day SMA of $79.20 and the 50-day SMA of $78.25, reinforcing a bullish outlook in the near term. Adding to the positive side, Fortinet&#8217;s price also remains well above its 200-day SMA of $67.99, which suggests bullish potential for the longer-term. 
The Moving Average Convergence Divergence (MACD) reading of 0.27 further supports a bullish stance, while the Relative Strength Index (RSI) at 55.98, and rising, indicates that Fortinet be heading towards the overbought territory, potentially setting the stage for a bearish reversal. 
Overall, while short-term risks persist, the longer-term technical indicators remain favorable for Fortinet stock.
<h2 class="wp-block-heading">Fortinet Analysts See 7% Upside</h2>
Fortinet Ratings &amp; Consensus Estimates: <a href="https://www.benzinga.com/quote/FTNT/analyst-ratings" target="_blank" rel="noreferrer noopener">The consensus analyst rating</a> on Fortinet stock stands at a Neutral currently with a price target of $73.96. 
The latest analyst ratings from Rosenblatt, Cantor Fitzgerald and Truist Securities set an average price target of $86 for Fortinet stock, implying a 6.77% upside.
Price Action: Fortinet stock was trading at $80.55 at the time of publication.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41781115/stock-of-the-day-trump-media-technology-hits-resistance-reverses-and-trends-lower">Stock Of The Day: Trump Media &amp; Technology Hits Resistance, Reverses And Trends Lower</a></li>
</ul>
Image: Shutterstock

Technicals

Previews

Tech

Trading Ideas

Fortinet Gears Up For Q3 Earnings As Cyber Demand Drives Momentum

Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) is set to give its latest quarterly earnings report on Thursday, 2024-11-07. Here's what investors need to know before the announcement.
Analysts estimate that Fortinet will report an earnings per share (EPS) of $0.52. 
Fortinet bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Earnings History Snapshot</h3>
In the previous earnings release, the company beat EPS by $0.16, leading to a 25.3% increase in the share price the following trading session.
Here's a look at Fortinet's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.41</td>
<td>0.38</td>
<td>0.43</td>
<td>0.36</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.57</td>
<td>0.43</td>
<td>0.51</td>
<td>0.41</td>
</tr>
<tr>
<td>Price Change %</td>
<td>25.0%</td>
<td>-10.0%</td>
<td>4.0%</td>
<td>-12.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730905398_0.png" alt="eps graph" />
<h3>Tracking Fortinet's Stock Performance</h3>
Shares of Fortinet were trading at $77.92 as of November 05. Over the last 52-week period, shares are up 61.53%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analyst Opinions on Fortinet</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Fortinet.
Analysts have given Fortinet a total of 8 ratings, with the consensus rating being Neutral. The average one-year price target is $80.88, indicating a potential 2.59% upside.
<h3>Comparing Ratings with Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of CrowdStrike Holdings, Zscaler and Gen Digital, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Outperform trajectory for CrowdStrike Holdings, with an average 1-year price target of $324.11, suggesting a potential 311.1% upside.</li>
<li>Zscaler is maintaining an Outperform status according to analysts, with an average 1-year price target of $213.35, indicating a potential 170.61% upside.</li>
<li>Gen Digital is maintaining an Neutral status according to analysts, with an average 1-year price target of $32.5, indicating a potential 58.78% downside.</li>
</ul>
<h3>Comprehensive Peer Analysis Summary</h3>
The peer analysis summary offers a detailed examination of key metrics for CrowdStrike Holdings, Zscaler and Gen Digital, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Fortinet</td>
<td>Neutral</td>
<td>10.95%</td>
<td>$1.16B</td>
<td>504.05%</td>
</tr>
<tr>
<td>CrowdStrike Holdings</td>
<td>Outperform</td>
<td>31.74%</td>
<td>$726.47M</td>
<td>1.75%</td>
</tr>
<tr>
<td>Zscaler</td>
<td>Outperform</td>
<td>30.30%</td>
<td>$462.66M</td>
<td>-1.26%</td>
</tr>
<tr>
<td>Gen Digital</td>
<td>Neutral</td>
<td>3.07%</td>
<td>$780M</td>
<td>7.92%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Fortinet ranks at the top for Gross Profit and Return on Equity among its peers. It is in the middle for Revenue Growth.
<h3>All You Need to Know 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.
<h3>A Deep Dive into Fortinet's Financials</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 10.95% as of 30 June, 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 net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 26.48% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Fortinet's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 504.05% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Fortinet's ROA stands out, surpassing industry averages. With an impressive ROA of 4.83%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Fortinet's debt-to-equity ratio is notably higher than the industry average. With a ratio of 3.45, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<a href="https://www.benzinga.com/quote/FTNT/earnings">To track all earnings releases for Fortinet visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: Fortinet

The stock market indexes have enjoyed record highs in recent years with the S&amp;P 500 outperforming other years with President Joe Biden leading the country for the last <a href="https://www.benzinga.com/general/education/24/02/37275812/if-you-invested-in-the-s-p-500-when-joe-biden-became-president-heres-how-much-youd-have-today">nearly four years.</a>
With the 2024 presidential election nearing, here's a look back at the top performing S&amp;P 500 stocks in 2021, which was Biden's first year in the White House.
What Happened: Biden stepped down from <a href="https://www.benzinga.com/topic/2024-election">the 2024 presidential election </a>earlier this year. While the current president won't be re-elected to the White House, past performance with a Democrat as president could highlight which stocks and sectors could be winners if Kamala Harris is victorious in Tuesday's election.
The S&amp;P 500, which is tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 26.9% in 2021. This marked the best yearly performance since 2018 and the second-best performance for the key stock market index in the last 11 years.
The 12 months following Election Day 2020, which was won by Biden, <a href="https://www.benzinga.com/news/22/01/25137004/biden-vs-trump-how-did-stock-market-returns-compare-after-their-first-year-as-president">saw the S&amp;P 500 gain 37.4%.</a> This was the best one-year market return under a president in many years.
Here were the 10 best-performing S&amp;P 500 stocks in 2021, according to a <a href="https://finance.yahoo.com/news/top-10-best-performing-stocks-190949855.html">report </a>from InvestorPlace, and their sectors.
<ol>
<li>Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>): 196.1%, energy</li>
<li>Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>): 149.7%, energy</li>
<li>Moderna (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>): 143.1%, health care/biotech</li>
<li>Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>): 142.0%, technology/cybersecurity</li>
<li>Signature Bank (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBNY#OTC">SBNY</a>): 141.5%, financials</li>
<li>Ford (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>): 137.5%, automotive</li>
<li>Bath &amp; Body Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>): 133.7%, consumer discretionary/retail</li>
<li>Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>): 127.4%, energy</li>
<li>NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): 125.5%, technology/semiconductors</li>
<li>Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>): 118.4%, industrials</li>
</ol>
The results above show that energy was a top sector in 2021 and represented several of the top-performing stocks for the year. Technology also had several companies on the list.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent103124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Click through <a href="https://www.benzinga.com/general/politics/24/10/41584466/these-10-stocks-were-the-best-s-p-500-performers-in-2017-when-trump-was-president-will-history-r">to see the 10 best</a> and <a href="https://www.benzinga.com/general/politics/24/10/41606114/10-s-p-500-stocks-were-worst-performers-in-first-year-of-trumps-presidency-will-they-sink-again">10 worst-performing</a> S&amp;P 500 stocks of 2017, Donald Trump's first year in the White House.
The list above included Nvidia, which was also a top 10 winner in 2017, during Donald Trump's first year in the White House.
<a href="https://www.benzinga.com/topic/signature-bank" target="_blank" rel="noopener">Signature Bank</a>, which was the third-largest bank failure in U.S. history, was a top performer in 2017.
Investors should consider whether these past results could repeat if Harris is elected and begins her presidential term in 2025. Energy isn't often thought of as a segment that could do well under a Democratic president, but past results show that the sector could do well, at least in the first year.
Coincidentally, energy was cited as a potential poor sector if Trump wins the 2024 election based on the 2017 results. What likely happened in 2017, and what could happen again, is a run-up in stocks during the election year and a potential selloff in the year after as investors take profits.
With less than one week until the 2024 election, investors are likely positioning their portfolio based on a Trump or&nbsp;Harris&nbsp;victory in some regards. With a close election predicted, investors may want to look to sectors that could benefit under either candidate.
Freedom Capital Markets&nbsp;Chief Global Strategist&nbsp;Jay Woods&nbsp;previously<a href="https://www.benzinga.com/etfs/sector-etfs/24/08/40515453/exclusive-trump-or-harris-12-stocks-2-etfs-could-win-no-matter-whos-president-says-market-strate" target="_blank" rel="noreferrer noopener">&nbsp;shared some sectors&nbsp;</a>and stocks to watch with Benzinga that could benefit regardless of whether Trump or Harris wins the 2024 election.
Woods named defense stocks and cybersecurity stocks as two of the top sectors to watch ahead of the 2024 election.
&#8220;I think you&#8217;ve got to watch this sector closely,&#8221; Woods said of the defense sector.
Woods added that defense stocks could continue to benefit from geopolitical concerns and the world's many adverse events.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports-betting/24/10/41589659/trump-vs-harris-state-by-state-2024-election-betting-odds-which-candidate-is-favored-to-wi">Trump Vs. Harris: State-By-State 2024 Election Betting Odds, Which Candidate Is Favored To Win In Your Community?</a></li>
</ul>
Photo: Shutterstock

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These 10 Stocks Were S&P 500's Top Performers In Biden's First Year: Could Trend Continue If Harris Wins 2024 Election?

Rosenblatt analyst Catharine Trebnick 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 $72 to $85.

Rosenblatt Maintains Buy on Fortinet, Raises Price Target to $85

On CNBC's &#8220;Mad Money Lightning Round,&#8221; <a href="https://www.benzinga.com/topic/jim-cramer">Jim Cramer recommended</a> buying Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>).
On Oct. 17, Intuitive Surgical reported third-quarter revenue of $2.04 billion, beating the consensus estimate of $2 billion. The robotic-assisted surgery company reported third-quarter adjusted earnings of $1.84 per share, beating analyst estimates of $1.63 per share, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>) is a &#8220;great operator, just own it right through,&#8221; he said.
On Oct. 1, Kimco Realty announced the acquisition of Waterford Lakes Town Center, a 976,000-square-foot signature asset spanning 79 acres in Orlando, Florida, for $322 million, including the assumption of a $164 million mortgage.
&#8220;That is such a hard story to understand,&#8221; Cramer said when asked about Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>).
On Oct. 28, Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised its price target from $71 to $72.
The &#8220;Mad Money&#8221; host said CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) is a buy.
On Oct. 22, CrowdStrike partnered with Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) to enhance endpoint and firewall protection by integrating its AI-native security from the Falcon platform with FortiGate next-generation firewalls (NGFW).
Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) is a &#8220;high speculative&#8221; stock, he said.
On Oct. 24, Keybanc analyst Michael Leshock maintained Rocket Lab with an Overweight and raised the price target from $11 to $12.
Price Action:
<ul>
<li>Intuitive Surgical shares gained 1.1% to settle at $516.31 on Tuesday.</li>
<li>Kimco shares declined 0.9% to close at $23.67 on Tuesday.</li>
<li>Nutanix shares rose 1.3% to settle at $64.97 during the session.</li>
<li>CrowdStrike shares gained 3.2% to settle at $310.94 on Tuesday.</li>
<li>Rocket Lab gained 1.9% to settle at $11.47 on Tuesday.</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41599928/top-3-tech-and-telecom-stocks-which-could-rescue-your-portfolio-for-october">Top 3 Tech And Telecom Stocks Which Could Rescue Your Portfolio For October</a></li>
</ul>
Photo: s_bukley/Shutterstock.com

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Jim Cramer Says Buy CrowdStrike Stock, Calls This Aerospace Manufacturer A 'High Speculative' Stock

Cantor Fitzgerald analyst Yi Fu Lee 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 $65 to $88.

Cantor Fitzgerald Maintains Neutral on Fortinet, Raises Price Target to $88

<a href="https://www.bleepingcomputer.com/news/security/fortinet-warns-of-new-critical-fortimanager-flaw-used-in-zero-day-attacks/">https://www.bleepingcomputer.com/news/security/fortinet-warns-of-new-critical-fortimanager-flaw-used-in-zero-day-attacks/</a>
Fortinet publicly disclosed today a critical&nbsp;FortiManager API vulnerability, tracked as CVE-2024-47575,&nbsp;that was exploited in zero-day attacks to steal sensitive files containing configurations, IP addresses, and credentials for managed devices.
The company privately warned FortiManager customers about the flaw starting October 13th in advanced notification emails seen by BleepingComputer that contained steps to mitigate the flaw until a security update was released.
However, news of the vulnerability began leaking online&nbsp;throughout the week by customers on <a href="https://www.reddit.com/r/fortinet/comments/1g6vspq/why_was_fortimanager_728_released/">Reddit</a> and by cybersecurity researcher <a href="https://infosec.exchange/@GossiTheDog@cyberplace.social/113299763212821881">Kevin Beaumont</a> on Mastodon, who calls this flaw "FortiJump."
Fortinet device admins have also shared that this flaw has been exploited for a while, with a customer reporting being attacked weeks before the notifications were sent to customers.
"We got breached on this one weeks before it hit "advance notifications" - 0-day I guess," reads a now-deleted comment on Reddit.&nbsp;&nbsp;

'Fortinet Warns Of New Critical FortiManager Flaw Used In Zero-Day Attacks' - Bleeping Computer

Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) underwent analysis by 20 analysts in the last quarter, revealing a spectrum of viewpoints 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">4</td>
<td align="right">3</td>
<td align="right">12</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</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">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">3</td>
<td align="right">10</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $73.5, a high estimate of $90.00, and a low estimate of $64.00. Marking an increase of 6.83%, the current average surpasses the previous average price target of $68.80. 
<img src="https://www.benzinga.com/files/images/story/2024/1729695660_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A clear picture of Fortinet's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below 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>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>
<tr>
<td>Fatima Boolani</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$76.00</td>
<td>$66.00</td>
</tr>
<tr>
<td>Shyam Patil</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Neutral</td>
<td>$70.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Fatima Boolani</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$66.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Patrick Colville</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$75.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>Yi Fu Lee</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Brad Zelnick</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$75.00</td>
<td>$71.00</td>
</tr>
<tr>
<td>Brian Essex</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$70.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Dan Bergstrom</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$72.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$80.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Daniel Ives</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$78.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Keith Bachman</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$76.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Roger Boyd</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$70.00</td>
<td>$69.00</td>
</tr>
<tr>
<td>Andrew Nowinski</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$64.00</td>
<td>$62.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Buy</td>
<td>$72.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Lowers</td>
<td>Buy</td>
<td>$68.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Fatima Boolani</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$68.00</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: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Fortinet compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Fortinet's stock. This comparison reveals trends 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>Discovering Fortinet: A Closer Look</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>Breaking Down Fortinet's Financial Performance</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Fortinet showcased positive performance, achieving a revenue growth rate of 10.95% as of 30 June, 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 net margin excels beyond industry benchmarks, reaching 26.48%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Fortinet's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 504.05%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Fortinet's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 4.83% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 3.45, caution is advised due to increased financial risk.
<h2>The Basics of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per 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>.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cracking The Code: Understanding Analyst Reviews For Fortinet

In the latest quarter, 20 analysts provided ratings for Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), showcasing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">12</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">10</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $73.5, a high estimate of $90.00, and a low estimate of $64.00. This current average reflects an increase of 6.83% from the previous average price target of $68.80. 
<img src="https://www.benzinga.com/files/images/story/2024/1729695628_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed 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>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>
<tr>
<td>Fatima Boolani</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$76.00</td>
<td>$66.00</td>
</tr>
<tr>
<td>Shyam Patil</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Neutral</td>
<td>$70.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Fatima Boolani</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$66.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Patrick Colville</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$75.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>Yi Fu Lee</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Brad Zelnick</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$75.00</td>
<td>$71.00</td>
</tr>
<tr>
<td>Brian Essex</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$70.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Dan Bergstrom</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$72.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$80.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Daniel Ives</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$78.00</td>
<td>$78.00</td>
</tr>
<tr>
<td>Keith Bachman</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$76.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Roger Boyd</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$70.00</td>
<td>$69.00</td>
</tr>
<tr>
<td>Andrew Nowinski</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$64.00</td>
<td>$62.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Raises</td>
<td>Buy</td>
<td>$72.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Lowers</td>
<td>Buy</td>
<td>$68.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Fatima Boolani</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$68.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Fortinet. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Fortinet compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Fortinet's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Fortinet's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic 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>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: Delving into Financials</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Fortinet's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 10.95%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 26.48%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Fortinet's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 504.05%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 4.83%, the company showcases effective utilization of assets.
Debt Management: With a high debt-to-equity ratio of 3.45, Fortinet faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Significance of Analyst Ratings Explained</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Decoding 20 Analyst Evaluations For Fortinet

Truist Securities analyst Joel Fishbein 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 $70 to $85.

Truist Securities Maintains Buy on Fortinet, Raises Price Target to $85

CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) partnered with Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) to enhance endpoint and firewall protection by integrating its AI-native security from the Falcon platform with <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41449289/crowdstrike-and-fortinet-deliver-industry-leading-protection-from-endpoint-to-firewall" rel="noreferrer noopener">FortiGate next-generation firewalls (NGFW)</a>.
The partnership delivers comprehensive telemetry across endpoints and networks, enabling rapid, AI-driven threat protection and response. It also simplifies security operations by providing a unified view.
The integration of CrowdStrike and Fortinet enhances network and endpoint security while streamlining operations and improving threat detection and response.
Customers are expected to benefit from rich insights into network traffic, user activity, and device posture, enabling effective risk mitigation with real-time protection.
Daniel Bernard, chief business officer, CrowdStrike, stated, &#8220;CrowdStrike pioneered an AI-native platform to revolutionize endpoint security – Fortinet defines next-generation firewall protection and network security focused on performance and efficacy. Customers benefit from using us together, partners benefit from bringing us to market together, and this strategic partnership symbiotically advances both companies&#8217; expansion strategies.&#8221;
Investors can gain exposure to the stock via&nbsp;First Trust NASDAQ Cybersecurity ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) and&nbsp;REX AI Equity Premium Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIPI#NYSE">AIPI</a>).
Price Action: CRWD shares are down 0.82% at $307.02 at the last check Tuesday.
Photo via Shutterstock
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CrowdStrike And Fortinet Partner To Supercharge Cybersecurity: Details

Strategic partnership unifies AI-native endpoint security and next-generation firewall protection to secure organizations across networks, applications and endpoints
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.crowdstrike.com%2Fen-us%2F&amp;esheet=54140179&amp;newsitemid=20241022948981&amp;lan=en-US&amp;anchor=CrowdStrike&amp;index=1&amp;md5=4cea870ad5f35bb65175b3e422022bc6">CrowdStrike</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) today announced a strategic partnership with Fortinet to unify best-in-class endpoint and firewall protection. By integrating AI-native endpoint security from the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.crowdstrike.com%2Fplatform%2F&amp;esheet=54140179&amp;newsitemid=20241022948981&amp;lan=en-US&amp;anchor=CrowdStrike+Falcon%26%23174%3B+cybersecurity+platform&amp;index=2&amp;md5=9605642ac0756396b78f1efbb1243f6a">CrowdStrike Falcon&#xAE; cybersecurity platform</a> and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.fortinet.com%2Fproducts%2Fnext-generation-firewall&amp;esheet=54140179&amp;newsitemid=20241022948981&amp;lan=en-US&amp;anchor=Fortinet%26%238217%3Bs+FortiGate&amp;index=3&amp;md5=4d0520c4fdbfa20da98137c4577f6567">Fortinet's FortiGate</a> next-generation firewalls (NGFW), customers and partners gain the flexibility, visibility and security across networks, applications and endpoints to stop breaches.

CrowdStrike And Fortinet Form Strategic Partnership Unifing AI-Native Endpoint Security And Next-Generation Firewall Protection To Secure Organizations Across Networks, Applications And Endpoints

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5a2ad737adcfa700012516ac/jairam-nathan">Daiwa Capital analyst Jairam Nathan</a> downgraded the rating for Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) from Outperform to Neutral and announced a price target of $84. Uber shares closed at $83.20 on Wednesday. <a href="https://www.benzinga.com/quote/UBER/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Mizuho analyst Gregg Moskowitz downgraded Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) from Neutral to Underperform and maintained the price target of $68. Fortinet shares closed at $82.64 on Wednesday. <a href="https://www.benzinga.com/quote/FTNT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Guggenheim analyst Joseph Osha downgraded SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) from Neutral to Sell and announced a price target of $10. SolarEdge shares closed at $18.19 on Wednesday. <a href="https://www.benzinga.com/quote/SEDG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Ladenburg Thalmann analyst Paul Fremont downgraded the rating for Spire Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SR#NYSE">SR</a>) from Neutral to Sell and lowered the price target from $65.5 to $60.5. Spire shares closed at $65.56 on Wednesday. <a href="https://www.benzinga.com/quote/SR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo analyst Ike Boruchow downgraded Capri Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRI#NYSE">CPRI</a>) from Overweight to Equal-Weight and maintained the price target of $42. Enphase Energy shares closed at $43.04 on Wednesday. <a href="https://www.benzinga.com/quote/SPRI/analyst-ratings">See how other analysts view this stock.</a></li>
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Fortinet shares are trading lower after Mizuho downgraded the stock from Neutral to Underperform.

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Wall Street Week Ahead

Barclays analyst Saket Kalia maintained a Hold rating on Fortinet (FTNT – Research Report) today and set a price target of $85.00. The company's sh...

Barclays Reaffirms Their Hold Rating on Fortinet (FTNT)

The demand for cybersecurity solutions is rising as digital threats and sophisticated cyberattacks continue to escalate. Therefore, it might be wise to keep track of cybersecurity stocks, CrowdStrike (CRWD), Palo Alto Networks (PANW), and Fortinet (FTNT), as they offer innovative solutions presenting further growth opportunities. Continue reading... With the world becoming more evolved through technological advancements, the demand for cybersecurity solutions is also surging. These cyberattacks have become frequent, making protecting sensitive information a more critical priority than ever.
Given this landscape, investors looking to tap into this dynamic sector might consider watching cybersecurity stocks such as CrowdStrike Holdings, Inc. (<a href="https://stocknews.com/stock/CRWD/">CRWD</a>), Palo Alto Networks, Inc. (<a href="https://stocknews.com/stock/PANW/">PANW</a>), and Fortinet, Inc. (<a href="https://stocknews.com/stock/FTNT/">FTNT</a>). These companies adopt advanced AI tools to automate threat detection and enhance their defense systems.
Companies and governments invest heavily in protecting sensitive information from data breaches and ransomware incidents. For fiscal year 2025, <a href="https://industrialcyber.co/critical-infrastructure/us-federal-budget-for-fy-2025-boosts-cybersecurity-investments-amid-escalating-threats/">the U.S. government has proposed $13 billion</a> in funding across civilian departments and agencies, including an enhanced budget of $3 billion for the Cybersecurity and Infrastructure Security Agency (CISA), a $103 million increase from the previous year.
Moreover, cyberattacks have only increased this year, with 41% of small businesses experiencing a cyber threat. The region most affected by ransomware attacks is the United States, which <a href="https://www.embroker.com/blog/cyber-attack-statistics/">accounts for 59% of them</a>. This has led to a surge in cybersecurity solutions as strengthening defenses has become more crucial than ever.
Therefore, the global cybersecurity market is expected to <a href="https://www.fortunebusinessinsights.com/industry-reports/cyber-security-market-101165">reach $562.72 by 2032</a>, exhibiting a CAGR of 14.3%.
Cybersecurity firms are developing solutions to protect mobile devices, IoT systems, and enterprise networks from advanced threats, making this industry attractive for long-term investors.
With that in mind, let's analyze the fundamentals of the above-mentioned three <a href="https://stocknews.com/category/software-security/">Software - Security</a> stocks, beginning with #3.
Stock #3: CrowdStrike Holdings, Inc. (<a href="https://stocknews.com/stock/CRWD/">CRWD</a>)
CRWD is a global cybersecurity company that provides cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company's Falcon platform is designed for cybersecurity consolidation and is purpose-built to stop breaches. The platforms collect and integrate data from across the enterprise, including endpoints, cloud workloads, identities, and third-party sources.
On October 23, CRWD announced that it collaborated with Omnissa, a leading digital work platform company, to deliver real-time threat detection and automated remediation for Virtual Desktop Infrastructure (VDI) and physical desktop environments.
This strategic alliance of integrating CRWD's Falcon in the Omnissa platform will empower interconnected threat detection and remediation for increased cyber resiliency in virtual environments.
In the same week, CRWD and FTNT announced a strategic partnership to unify AI-native endpoint security and next-generation firewall protection, allowing customers and partners to gain flexibility, visibility, and security across networks, applications, and endpoints to stop breaches. This partnership will unify CRWD's Falcon cybersecurity platform with FTNT's next-generation firewalls.
CRWD's <a href="https://www.investopedia.com/terms/r/revenue.asp">revenue</a> for the second quarter (ended July 31, 2024) increased 31.7% year-over-year to $963.87 million. The company reported a gross profit of $726.47 million, indicating a 32.4% growth from the prior year quarter. CRWD's non-GAAP net income came in at $260.76 million and $1.04 per share, up 44.9% and 40.5% year-over-year, respectively.
For the full year 2025, CRWD expects total revenue to be between $3.89 billion and $3.90 billion and non-GAAP income from operations to range from $774.70 million to $783.90 million. The company also expects non-GAAP net income to fall between $908.80 million and $918 million, or $3.61 and $3.65 per share.
Analysts expect CRWD's revenue for the third quarter (ending October 2024) to increase 25.1% year-over-year to $983.05 million. However, the consensus EPS estimate of $0.81 for the same period indicates a 1.4% year-over-year decline. For the fiscal year ending January 2025, Street expects CRWD's revenue and EPS to grow 27.7% and 17.9% from the prior year to $3.90 billion and $3.64, respectively.
Over the past year, the stock has surged 79.9%, closing the last trading session at $310.94.
CRWD's stance is apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an A grade for Growth and a B for Quality. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
Among the 21 stocks in the <a href="https://stocknews.com/category/software-security/">Software - Security</a> industry, it is ranked #17. <a href="https://stocknews.com/stock/CRWD/">Click here</a> to see the additional CRWD ratings (Value, Momentum, Stability, and Sentiment).
Stock #2: Palo Alto Networks, Inc. (<a href="https://stocknews.com/stock/PANW/">PANW</a>)
PANW is a provider of cybersecurity solutions. The company's platforms and services are designed to secure enterprise users, networks, clouds, and endpoints through cybersecurity measures backed by artificial intelligence and automation. PANW focuses on four areas: Network Security; Cloud Security; Security Operations and Threat Intelligence; and Security Consulting. 
On October 21, PANW introduced new OT security solutions powered by Precision AI to protect OT remote operations, mitigate risk for critical OT assets, and extend security into harsh industrial environments. This new feature also helps customers simplify operations and increase efficiency with organizations to address vulnerabilities in real time without disruptive downtime.
In the same month, PANW announced the expansion of its strategic alliance with Deloitte in the EMEA and JAPAC regions. Deloitte's agreement to adopt PANW's cloud and network security platforms offers mutual customers a unified platform and helps them achieve better cybersecurity solutions.
During the fourth quarter that ended on July 31, 2024, PANW's revenue increased 12.1% year-over-year to $2.19 billion. The company's gross profit came in at $1.62 billion reflecting an increase of 11.7% from the prior year quarter. In addition, its non-GAAP net income amounted to $522.20 million and $ $1.51 per share, reflecting an increase of 8.2% and 4.9% year-over-year, respectively.
Looking ahead, PANW anticipates first-quarter revenue for fiscal year 2025 to fall between $2.10 billion and $2.13 billion, reflecting a year-over-year growth of 12% to 13%. The company also projects non-GAAP earnings per share to range from $1.47 to $1.49, marking an annual increase of 7% to 8%.
The consensus revenue estimate of $2.12 billion for the fiscal first quarter (ending October 2024) represents a 12.9% increase year-over-year. The consensus EPS estimate of $1.48 for the same quarter indicates a 6.9% improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
The stock has gained 53% over the past year and 24.5% over the past six months to close the last trading session at $365.39.
PANW's fundamentals are reflected in its POWR Ratings. The stock has a B grade for Sentiment and Quality. It is ranked #12 out of 21 stocks in the same industry.
Beyond what is stated above, we've also rated PANW for Growth, Value, Momentum, and Stability. Get all PANW's ratings <a href="https://stocknews.com/stock/PANW/">here</a>.
Stock #1: Fortinet, Inc. (<a href="https://stocknews.com/stock/FTNT/">FTNT</a>)
FTNT provides cybersecurity and convergence of networking and security solutions worldwide. The company offers secure networking solutions focusing on the convergence of networking and security, network firewall solutions, wireless LAN solutions, and secure connectivity solutions.
On October 8, FTNT announced the expansion of its cloud-native application, Lacework FortiCNAPP, a unified, AI-driven platform to secure everything from code to cloud from a single vendor. This expansion will strengthen the company's position in the market as Lacework FortiCNAPP maximizes cloud security and helps detect and investigate threats.
On September 10, FTNT announced the opening of an Innovation Hub in Chicago. This new facility enhances collaboration with customers, partners, employees, and other stakeholders as it expands FTNT's cloud Point of Presence, its research and development, and also, its training facility. This opening should help expand the company's global cloud footprint.
For the second quarter of 2024, which ended on June 30, FTNT's total revenues increased 10.9% year-over-year to $1.43 billion. Its total gross profit rose 16.3% from the year-ago value to $1.16 billion.
Its non-GAAP operating income stood at $503.60 million, up 44.7% year-over-year, while its non-GAAP net income amounted to $439.90 million, representing an increase of 46.4% from the last year. Also, the company's non-GAAP EPS for the quarter increased 50% year-over-year to $0.57.
According to the company's guidance, FTNT forecasts fiscal year 2024 revenue to range from $5.80 billion to $5.90 billion, with billings between $6.40 billion and $6.60 billion. In addition, it anticipates its non-GAAP gross margin to fall between 79% and 80% and non-GAAP net income per share in the range of $2.00 and $2.04.
Street expects FTNT's revenue for the fiscal third quarter (ended September 2024) to increase 10.9% year-over-year to $1.48 billion. Moreover, its EPS estimate of $0.52 for the same period indicates a 27.1% year-over-year growth. In addition, it surpassed the consensus EPS estimates in each of the trailing four quarters, which is excellent.
FTNT shares have surged 41.1% over the past year and 38.3% over the past three months to close the last trading session at $79.37.
FTNT's POWR Ratings reflect its promising outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system.
FTNT has an A grade for Quality and B for Sentiment. It is ranked #6 in the Software - Security industry. <a href="https://stocknews.com/stock/FTNT/">Click here</a> to see the other ratings of FTNT for Growth, Value, Momentum, and Stability.
What To Do Next?
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<hr />
PANW shares were trading at $362.22 per share on Wednesday afternoon, down $3.17 (-0.87%). Year-to-date, PANW has gained 22.84%, versus a 23.44% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/panw-crwd-ftnt-3-cybersecurity-stocks-defending-against-digital-threats/>3 Cybersecurity Stocks Defending Against Digital Threats</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Cybersecurity Stocks Defending Against Digital Threats

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BUG: Don't Bug Me (Rating Downgrade)

Scotiabank analyst Patrick Colville maintained a Buy rating on Fortinet (FTNT – Research Report) today and set a price target of $75.00. The compan...

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