Fortinet downgraded by HSBC Securities with a new price target
$FTNT
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HSBC Securities downgraded Fortinet from Hold to Reduce and set a new price target of $57.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/19/2024 | $88.00 → $100.00 | Market Perform | BMO Capital Markets |
| 11/11/2024 | $83.00 → $111.00 | Hold → Buy | HSBC Securities |
| 10/17/2024 | $68.00 | Neutral → Underperform | Mizuho |
| 8/8/2024 | $65.00 | Sell → Hold | DZ Bank |
| 8/7/2024 | $59.00 | Reduce → Hold | HSBC Securities |
| 7/29/2024 | Buy → Neutral | Guggenheim | |
| 7/18/2024 | $75.00 | Hold → Buy | TD Cowen |
| 2/13/2024 | $75.00 | Neutral → Outperform | Daiwa Securities |
BMO Capital Markets reiterated coverage of Fortinet with a rating of Market Perform and set a new price target of $100.00 from $88.00 previously
HSBC Securities upgraded Fortinet from Hold to Buy and set a new price target of $111.00 from $83.00 previously
Mizuho downgraded Fortinet from Neutral to Underperform and set a new price target of $68.00
ATLANTA, Nov. 15, 2024 (GLOBE NEWSWIRE) -- John Whittle, Chief Operating Officer at Fortinet "With our new space in Atlanta set to become one of our global Innovation Hubs, we'll be able to better serve our growing customer base in this region as we build on the partnerships created across industries in Georgia over the past 24 years. Through our global Innovation Hubs, Fortinet is committed to enhancing our infrastructure and innovation to continue to deliver unmatched experiences and solutions to customers worldwide. We're excited to be part of this vibrant community, helping to contribute to Atlanta's position as a hub for business and technology." News Summary Fortinet® (NASDA
SUNNYVALE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the addition of Janet Napolitano to the company's board of directors, adding further national security and public policy expertise to the board. Appointing Janet to the board of directors builds on Fortinet's ongoing commitment to advancing cybersecurity for society at large through its product development principles and strategic partnerships. Janet will help advance Fortinet's public and private sector initiatives, advise on the company's ongoing efforts related to CISA's Secure by Design Pledge, and strengthen
SUNNYVALE, Calif., Nov. 11, 2024 (GLOBE NEWSWIRE) -- Ken Xie, Founder, Chairman of the Board, and Chief Executive Officer at Fortinet"As we celebrate the 15th year anniversary of our IPO, we reflect on the leading role Fortinet has played in shaping the continued evolution of cybersecurity. Innovation has been in our DNA since our inception more than 20 years ago, and with our customers at the center of everything we do, we've built a world-class team, developed an industry-leading portfolio of integrated solutions, and forged meaningful partnerships to strengthen global cyber resilience. Looking ahead, we remain committed to driving innovation, fostering trust, and delivering lasting va
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4 - Fortinet, Inc. (0001262039) (Issuer)
4 - Fortinet, Inc. (0001262039) (Issuer)
4 - Fortinet, Inc. (0001262039) (Issuer)
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10-Q - Fortinet, Inc. (0001262039) (Filer)
8-K - Fortinet, Inc. (0001262039) (Filer)
SUNNYVALE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the addition of Janet Napolitano to the company's board of directors, adding further national security and public policy expertise to the board. Appointing Janet to the board of directors builds on Fortinet's ongoing commitment to advancing cybersecurity for society at large through its product development principles and strategic partnerships. Janet will help advance Fortinet's public and private sector initiatives, advise on the company's ongoing efforts related to CISA's Secure by Design Pledge, and strengthen
SUNNYVALE, Calif., July 10, 2024 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced that KDDI leveraged Fortinet Unified SASE as a new managed secure access service edge (SASE) service. The service from KDDI utilizes Fortinet's industry-leading Unified SASE solution as the core product for its Global SASE Platform Service by Fortinet offering. The Global SASE Platform Service by Fortinet unifies and centrally manages different security policies and standards, simplifying complex networks that require highly secure hybrid work environments from any location globally. In addition, by
SUNNYVALE, Calif., May 07, 2024 (GLOBE NEWSWIRE) -- RSA Conference 2024 Jim Richberg, Head of Cyber Policy and Global Field CISO at Fortinet "At Fortinet, we have a long-standing commitment to being a role model in ethical and responsible product development and vulnerability disclosure. As part of this dedication, Fortinet has proactively aligned to international and industry best practices and upholds the highest security standards in every aspect of our business. We applaud CISA's continued call to the industry to follow suit and appreciate CISA's willingness to collaborate with Fortinet on the development of these important goals. We strongly encourage others in the technology communi
Fortinet's (NYSE:FTNT) short percent of float has risen 12.83% since its last report. The company recently reported that it has 16.06 million shares sold short, which is 2.55% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.2 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is i
The drive for consolidation is evident: with cybersecurity threats becoming more frequent and severe, companies and governments are compelled to bolster their defenses. As large IT firms and private equity investors snap up cybersecurity specialists, the industry is poised for significant growth and transformation. Google’s acquisition of Wiz is a major step in this direction, heralding a future where cybersecurity giants dominate the field, offering more robust and integrated protection solutions. Google’s Wiz Acquisition Could Trigger A Consolidation Wave Google parent Alphabet Inc‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) $23 billion acquisition of Wiz is shaking up the cybersecurity landsc
CrowdStrike Holdings, Inc.’s (NASDAQ:CRWD) pain has become a gain for its cybersecurity peers and the latter as a group are seen advancing strongly in premarket trading on Friday. Microsoft Corp. (NASDAQ:MSFT) properties experienced a significant outage, causing disruptions for banks, airlines, media companies, and emergency services worldwide. The outage was reportedly caused by an update from CrowdStrike. CrowdStrike’s CEO George Kurtz informed via social-media platform X that the issue has been identified and a fix has been deployed. “This is not a security incident or cyberattack,” he clarified. CrowdStrike is actively working with customers impacted by a defect found in a single
Highlights Total revenue up 13% year over year; service revenue up 19% year over yearBillings1 and product revenue returns to growthStrong billings growth in Unified SASE and Security OperationsRecord GAAP operating margin of 31.2%Record Non-GAAP operating margin of 36.1%1Cash flow from operations of $608 million; Free cash flow of $572 million1Raising 2024 revenue and non-GAAP operating margin guidanceShare repurchase authorization increased by $1 billion; remaining authorization of $2 billion SUNNYVALE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results fo
SUNNYVALE, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- News SummaryFortinet® (NASDAQ:FTNT), the global cybersecurity leader driving the convergence of networking and security, announced that it will hold a conference call to discuss its third quarter 2024 financial results on Thursday, November 7, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). Fortinet's financial results conference call will be broadcast live in listen-only mode on the company's investor relations website at http://investor.fortinet.com. While not required, it is recommended that you join at least 10 minutes prior to the event start. The CEO and CFO's prepared remarks, supplemental slides and a call replay will be
Record quarterly GAAP and Non-GAAP operating margins Raises 2024 revenue and Non-GAAP operating margin guidanceContinuing to invest in the fast-growing Unified SASE and Security Operations markets Second Quarter 2024 Highlights Total revenue of $1.43 billion, up 11% year over yearService revenue of $982 million, up 20% year over yearRecord GAAP operating margin of 30.5%Record Non-GAAP operating margin of 35.1%1Cash flow from operations of $342 million SUNNYVALE, Calif., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Fortinet® (NASDAQ:FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the second quarter ended June 30, 2024.