Fortinet (NASDAQ:FTNT) Bolsa

FORTINET INC

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 800,000 customers across the world.

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Las acciones de EE.UU. suben mientras los inversores analizan los aranceles, resultados financieros y expectativas de la Fed.

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CNBC Halftime Report Final Trades: Global X Cybersecurity ETF, CrowdStrike, Leidos Holdings, Fortinet

During the last three months, 15 analysts shared their evaluations of Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved 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">1</td>
<td align="right">4</td>
<td align="right">10</td>
<td align="right">0</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">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">8</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $107.8, along with a high estimate of $125.00 and a low estimate of $95.00. Observing a downward trend, the current average is 8.47% lower than the prior average price target of $117.77. 
<img src="https://www.benzinga.com/files/images/story/2025/1750165224_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
A comprehensive examination of how financial experts perceive Fortinet is derived from recent analyst actions. The following is a detailed summary of 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>Catharine Trebnick</td>
<td>Rosenblatt</td>
<td>Maintains</td>
<td>Buy</td>
<td>$125.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Daniel Ives</td>
<td>Wedbush</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$120.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Roger Boyd</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$105.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Dan Bergstrom</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$105.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Eric Heath</td>
<td>Keybanc</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$115.00</td>
<td>$120.00</td>
</tr>
<tr>
<td>Patrick Colville</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$115.00</td>
<td>$135.00</td>
</tr>
<tr>
<td>Andrew Nowinski</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$95.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Adam Borg</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$95.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$108.00</td>
<td>$113.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Neutral</td>
<td>$113.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Jonathan Ruykhaver</td>
<td>Cantor Fitzgerald</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$100.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Taz Koujalgi</td>
<td>Roth Capital</td>
<td>Announces</td>
<td>Neutral</td>
<td>$103.00</td>
<td>-</td>
</tr>
<tr>
<td>Hamza Fodderwala</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$105.00</td>
<td>$123.00</td>
</tr>
<tr>
<td>Todd Weller</td>
<td>Stephens &amp; Co.</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$108.00</td>
<td>-</td>
</tr>
<tr>
<td>Joseph Gallo</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Hold</td>
<td>$105.00</td>
<td>$115.00</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: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey 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>
To gain a panoramic view of Fortinet's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/FTNT/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">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 800,000 customers across the world.
<h3>Financial Insights: Fortinet</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Fortinet's financials over 3M reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 13.77% as of 31 March, 2025, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Information Technology sector.
Net Margin: Fortinet's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 28.15% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Fortinet's ROE excels beyond industry benchmarks, reaching 25.08%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Fortinet's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 4.3% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Fortinet's debt-to-equity ratio is below the industry average at 0.51, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Analyst Ratings: What Are They?</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 will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Verdict: Fortinet In The Eyes Of 15 Experts

Rosenblatt analyst Catharine Trebnick maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Buy and maintains $125 price target.

Price Target

Rosenblatt Maintains Buy on Fortinet, Maintains $125 Price Target

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Shares of companies within the broader technology sector are trading higher, supported by broad market strength, after better-than-expected nonfarm payrolls data eased concerns about an imminent economic slowdown.

Fortinet's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NYSE">FTNT</a>) short percent of float has fallen 23.08% since its last report. The company recently reported that it has 15.88 million shares sold short, which is 2.5% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.62 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> 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 important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Fortinet Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1749150042_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Fortinet has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Fortinet's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Fortinet's peer group average for short interest as a percentage of float is 6.51%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Peering Into Fortinet's Recent Short Interest

When Victoria&#8217;s Secret (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) reported a cybersecurity breach on Tuesday that caused it to take its website offline for three days in late May, the fashion industry hardly batted an eyelash. 
But shareholders ought to take heed. The attack is just the latest in an increasingly high tide of corporate cyberattacks that are stripping revenues, reputations, and sometimes entire business models, away. 
As cyber threats keep pace with AI adoption, investors are increasingly looking to <a href="https://www.benzinga.com/etfs">cybersecurity ETFs</a>.
See Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/06/45755138/small-caps-surge-dollar-general-stock-eyes-best-day-crude-hits-2-week-highs-whats-driving-markets-tuesday">Small Caps Surge, Dollar General Stock Eyes Best Day, Crude Hits 2-Week Highs: What&#8217;s Driving Markets Tuesday?</a>
<h3 class="wp-block-heading">Cybersecurity ETFs To Consider</h3>
The worldwide cybersecurity industry is <a href="https://www.fortunebusinessinsights.com/industry-reports/cyber-security-market-101165">projected </a>to grow to $562.72 billion by 2032, registering a CAGR of 14.3%, as per Fortune Business Insights. This broader secular trend has yielded compelling opportunities for investors through sector-specific ETFs. A brief summary of the major players follows:
<ul class="wp-block-list">
<li>First Trust NASDAQ Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>): With a one-day average volume of around 565,000 shares, this is the most liquid cybersecurity ETF. It has returned 39% over the past year, making it a strong contender for both active traders and long-term holders. The fund carries an expense ratio of 0.59%.</li>
</ul>
<ul class="wp-block-list">
<li>Amplify Cybersecurity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HACK#NYSE">HACK</a>): Another top-performing ETF, up 41% in the past year. From Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Cisco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) to Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) and Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), HACK offers diversified exposure to cybersecurity firms globally. The ETF carries an expense ratio of 0.6%.</li>
</ul>
<ul class="wp-block-list">
<li>iShares Cybersecurity &amp; Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>) and Global X Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUG#NASDAQ">BUG</a>): Good choices for those seeking diversified, low-cost exposure with a bias toward tech. The funds have expense ratios of 0.47% and 0.51%, respectively. The ETFs are up 18% and 29% in the past year, respectively.</li>
</ul>
As per a Statista <a href="https://www.statista.com/statistics/675399/us-government-spending-cyber-security/">report</a>, for FY 2025, the US government has put forward close to $13 billion of budgetary spending on cybersecurity, an increase of 10% from last fiscal year. It&#8217;s a sign that cybersecurity is now viewed as core infrastructure.
<h3 class="wp-block-heading">Back To Victoria&#8217;s Secret</h3>
Although Victoria&#8217;s Secret denies the three-day website shutdown affected Q1 profits, the company highlights one of the most important risks that have become far too commonplace: digital-platform-based businesses are one hack away from customer pandemonium and market cap loss.
Retail is not singular. Marks &amp; Spencer was recently hit by a ransomware <a href="https://www.bbc.com/news/articles/c0el31nqnpvo">attack </a>that froze online orders for weeks. The company lost an estimated £300 million, cutting its profits by nearly a third. That is not merely a technology problem, it is a complete financial debacle.
And then there&#8217;s the health sector, with 440+ ransomware attacks in 2024, the highest in any of the key infrastructure sectors, <a href="https://edition.cnn.com/2025/05/20/politics/ransomware-attack-medical-centers">according </a>to CNN, deducing from IC3 report. In 2024, losses <a href="https://www.ic3.gov/AnnualReport/Reports/2024_IC3Report.pdf">reported </a>to IC3 totaled a staggering $16.6 billion, with ransomware as the most &#8220;pervasive threat to critical infrastructure, with complaints rising 9% from 2023.&#8221;
The irony? A lot of the risk is being fueled by the same technology companies are adopting to improve operations: AI. As companies use AI tools to automate processes and track customer behavior, they simultaneously create new <a href="https://www.ic3.gov/PSA/2024/PSA241203">threats</a>.
That duality is fueling both fear and money, and ETF investors are surfing that trend.
Bottom Line: The cybersecurity theme has matured from a defensive hedge to a bona fide growth opportunity. Investors who want to future-proof their portfolios would do well to consider investing in ETFs that target this sector. Whether retail, healthcare, or geopolitics, cyberattacks aren&#8217;t disappearing. But with the proper investments, the prospect of returns could be just as enduring.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/06/45753210/first-trust-launches-balanced-income-etf-ftbi-with-3-pronged-strategy-across-stocks-bonds-gold">First Trust Launches Balanced Income ETF (FTBI) With 3-Pronged Strategy Across Stocks, Bonds &amp; Gold</a></li>
</ul>
Image: Shutterstock

Sector ETFs

Tech

ETFs

AVGO

CIBR

HACK

IHAK

VSCO

Why Victoria's Secret's Breach Is A Wake-Up Call For Cybersecurity ETF Investors

Baird analyst Shrenik Kothari 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 $112 to $115.

Baird Maintains Neutral on Fortinet, Raises Price Target to $115

Whales with a lot of money to spend have taken a noticeably bullish stance on Fortinet.
Looking at options history for Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 44% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $84,218 and 6, calls, for a total amount of $936,230.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $97.5 and $140.0 for Fortinet, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Fortinet's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Fortinet's whale activity within a strike price range from $97.5 to $140.0 in the last 30 days. 
<h3>Fortinet Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747857726_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</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>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$25.45</td>
<td>$25.1</td>
<td>$25.05</td>
<td>$100.00</td>
<td>$751.5K</td>
<td>6.1K</td>
<td>310</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$15.9</td>
<td>$15.7</td>
<td>$15.8</td>
<td>$100.00</td>
<td>$50.5K</td>
<td>896</td>
<td>58</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$8.5</td>
<td>$8.4</td>
<td>$8.4</td>
<td>$97.50</td>
<td>$46.2K</td>
<td>725</td>
<td>65</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$6.75</td>
<td>$6.5</td>
<td>$6.75</td>
<td>$100.00</td>
<td>$33.7K</td>
<td>2.6K</td>
<td>50</td>
</tr>
<tr>
<td>FTNT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/23/25</td>
<td>$0.55</td>
<td>$0.42</td>
<td>$0.42</td>
<td>$102.00</td>
<td>$29.4K</td>
<td>1.6K</td>
<td>1.0K</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 800,000 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>Where Is Fortinet Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 2,955,154, the FTNT's price is down by -1.66%, now at $103.05. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 76 days.</li>
</ul>
<h3>What The Experts Say On Fortinet</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $107.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from Roth Capital downgraded its action to Neutral with a price target of $103. 
&#x2A; An analyst from Baird has decided to maintain their Neutral rating on Fortinet, which currently sits at a price target of $108. 
&#x2A; An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Fortinet, which currently sits at a price target of $115. 
&#x2A; An analyst from Stifel persists with their Hold rating on Fortinet, maintaining a target price of $95. 
&#x2A; An analyst from Keybanc has decided to maintain their Overweight rating on Fortinet, which currently sits at a price target of $115. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Fortinet options trades with real-time alerts from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.

Options

Smart Money Is Betting Big In FTNT Options

AAOI

AIRG

ALAB

ALGM

ALLT

AMBR

ANET

AVPT

BBAI

CRDO

DELL

DOCU

FUFU

KVYO

LDTC

MOVE

MPWR

NTNX

ORCL

PLTR

PMTS

PSTG

RBRK

SKYT

SLAB

TEAM

TWLO

WOLF

XTKG

Shares of companies within the broader tech sector are trading higher amid overall market strength following softer-than-expected April inflation readings. Additionally, investors continue to weigh US-China trade progress and President Trump's Middle East trip.

High-rolling investors have positioned themselves bullish on Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in FTNT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Fortinet. This is not a typical pattern.
The sentiment among these major traders is split, with 55% bullish and 44% bearish. Among all the options we identified, there was one put, amounting to $27,060, and 8 calls, totaling $666,934.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $90.0 and $135.0 for Fortinet, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Fortinet stands at 767.0, with a total volume reaching 522.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Fortinet, situated within the strike price corridor from $90.0 to $135.0, throughout the last 30 days.
<h3>Fortinet Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747072872_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</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>06/13/25</td>
<td>$3.15</td>
<td>$3.1</td>
<td>$3.15</td>
<td>$100.00</td>
<td>$149.0K</td>
<td>7</td>
<td align="right">1</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/13/25</td>
<td>$3.15</td>
<td>$3.1</td>
<td>$3.15</td>
<td>$100.00</td>
<td>$149.0K</td>
<td>7</td>
<td align="right">1</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$5.2</td>
<td>$4.9</td>
<td>$5.2</td>
<td>$97.50</td>
<td>$104.0K</td>
<td>924</td>
<td align="right">202</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$4.0</td>
<td>$3.85</td>
<td>$4.0</td>
<td>$100.00</td>
<td>$79.6K</td>
<td>2.5K</td>
<td align="right">69</td>
</tr>
<tr>
<td>FTNT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$6.3</td>
<td>$5.6</td>
<td>$5.85</td>
<td>$95.00</td>
<td>$58.5K</td>
<td>162</td>
<td align="right">100</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 800,000 customers across the world.
Having examined the options trading patterns of Fortinet, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Fortinet Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 3,224,225, with FTNT's price up by 3.71%, positioned at $101.03.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 85 days.</li>
</ul>
<h3>Professional Analyst Ratings for Fortinet</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $105.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Neutral rating on Fortinet with a target price of $100. 
&#x2A; An analyst from UBS has decided to maintain their Neutral rating on Fortinet, which currently sits at a price target of $105. 
&#x2A; An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Fortinet, which currently sits at a price target of $115. 
&#x2A; An analyst from Roth Capital downgraded its action to Neutral with a price target of $103. 
&#x2A; Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Fortinet, targeting a price of $105. 
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://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

Unpacking the Latest Options Trading Trends in Fortinet

ADBE

ADSK

ALRM

AMPL

ANSS

BILL

BRZE

CCRD

CFLT

CIFR

Core Scientific, Inc. - Class A Common Stock

CORZ

CRNC

DDOG

DTSS

ESTC

FIVN

FROG

FRSH

GTLB

MANH

MAWSON INFRSTRUCTURE GRP by Mawson Infrastructure Group Inc.

MIGI

NISN

Next Technology Holding Inc. - Ordinary Shares

NXTT

OBLG

PCOR

SOUN

TENB

TUYA

VEEA

WULF

Shares of software stocks are trading higher amid overall market strength after the US and China agreed to a temporary reduction in most tariffs on each other's goods.

UBS analyst Roger Boyd maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Neutral and lowers the price target from $115 to $105.

UBS Maintains Neutral on Fortinet, Lowers Price Target to $105

Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) shares are trading lower Thursday after the company reported <a href="https://www.benzinga.com/news/earnings/25/05/45268852/fortinet-stock-sinks-after-q1-results-earnings-beat-revenues-in-line"> first-quarter 2025 financial results</a>.
What To Know: While adjusted earnings of 58 cents per share came in above the 53-cent consensus estimate, revenue of $1.54 billion was just in line with analyst expectations, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Slightly soft guidance at the midpoint appears to be weighing on shares. Fortinet guided for second-quarter revenue of $1.59 billion to $1.65 billion, or $1.62 billion at the midpoint, versus estimates of $1.63 billion. The company also reaffirmed full-year guidance of $6.65 billion to $6.85 billion versus estimates of $6.76 billion.
Fortinet guided for second-quarter adjusted earnings of 58 cents to 60 cents per share, versus estimates of 58 cents per share, and raised its full-year earnings forecast to $2.43 to $2.49 per share versus estimates of $2.47 per share. 
Product revenue increased 12.3% year-over-year to $459.1 million and service revenue rose 14.4% to $1.08 billion. Total billings reached $1.6 billion, representing a 13.5% increase from the year-ago period, while remaining performance obligations climbed 11.7% to $6.49 billion. 
&#8220;We continue to accelerate our growth strategy by investing in the rapidly expanding Unified SASE and Security Operations markets, while strengthening our leadership in Secure Networking,&#8221; said Ken Xie, founder, chairman and CEO of Fortinet. 
&#8220;Leveraging our deep expertise in networking and security convergence, a strong track record of AI-driven innovation, and seamless product development and integration through our FortiOS operating system, we have established ourselves as the leader in organic innovation and will continue setting the industry standard in cybersecurity.&#8221;
Several analysts also lowered price targets on Thursday, which is adding to the weakness in shares. 
<ul>
<li>Baird analyst Shrenik Kothari maintained a Neutral rating and lowered the price target from $113 to $108.</li>
</ul>
<ul>
<li>Stifel analyst Adam Borg maintained a Hold rating and lowered the price target from $115 to $95.</li>
</ul>
<ul>
<li>Wells Fargo analyst Andrew Nowinski maintained an Equal-Weight rating and lowered the price target from $105 to $95.</li>
</ul>
<ul>
<li>Scotiabank analyst Patrick Colville maintained a Sector Outperform rating and lowered the price target from $135 to $115.</li>
</ul>
<ul>
<li>Keybanc analyst Eric Heath maintained an Overweight rating and lowered the price target from $120 to $115.</li>
</ul>
FTNT Price Action: Fortinet shares were down 8.43% at $97.72 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2">Benzinga Pro.</a>
Read Next:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45285797/forget-rate-cuts-this-year-bank-of-america-warns-after-powells-hawkish-tone">Forget Rate Cuts This Year, Bank Of America Warns After Powell&#8217;s Hawkish Tone</a></li>
</ul>
Image via Shutterstock.

Movers

Fortinet Stock Is Tumbling Today: What's Sparking The Sell-Off?

RBC Capital analyst Dan Bergstrom maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Sector Perform and lowers the price target from $110 to $105.

RBC Capital Maintains Sector Perform on Fortinet, Lowers Price Target to $105

U.S. stocks rallied Thursday after the Trump administration signed its first major trade agreement with the United Kingdom, igniting optimism about further global deals — especially with China — and lifting investor <a href="https://www.benzinga.com/markets">appetite for riskier assets.</a>
The S&amp;P 500 jumped 1.3% to close at 5,700, led by gains in technology stocks. The Russell 2000 soared 2.1%, outperforming larger-cap counterparts and fully recovering the losses triggered by the April 2 tariff announcement.
Under the deal, the U.S. slashed tariffs on UK-made vehicles from 25% to 10%, granting British carmakers a 100,000-vehicle quota. In return, the UK reduced tariffs on American beef to near-zero levels and pledged to purchase $10 billion worth of Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) aircraft. Trump confirmed that the 10% tariff would remain the baseline for now, though he suggested other nations with large trade surpluses should expect higher rates.
During a press briefing, Trump hinted at the &#8220;biggest tax cuts in history&#8221; and urged investors to act: "You better go out and buy stock. This country will be like a rocket ship," he said.
The president also responded to Federal Reserve Chair Jerome Powell, who noted a day earlier he hadn't been invited to meet with Trump. "I could call him from a meeting, but it's like talking to a wall," Trump said. 
"He's always too late [in cutting interest rates]. But in this case, it's not going to matter that much because our country is so strong."
Markets reflected that strength. The U.S. dollar rallied sharply as the new trade deal and reduced economic uncertainty boosted confidence. The U.S. Dollar Index (DXY) jumped to its highest level since April 11, climbing over 1% against the Japanese yen.
Treasury yields rose across the curve, with the 10-year yield adding 7 basis points to reach 4.34%.
In commodities, gold prices dropped as investors rotated out of safe havens. The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) fell 1.5%, trimming its weekly gains. Oil prices rose 3.5%, with West Texas Intermediate crude topping $60 per barrel.
Crypto markets erupted higher. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) broke above $100,000 for the first time since February, rising 4.1%. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) surged 13%, while Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) gained 10%.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % Chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,030.85</td>
<td>+2.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,218.21</td>
<td>+1.8%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,683.40</td>
<td>+1.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,707.58</td>
<td>+1.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:10 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rallied 1.4% to $569.13.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.4% to $416.94.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 1.8% to $491.78.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 2.2% to $201.78.</li>
<li>The&nbsp;Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 2.5%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.4%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul>
<li>Fortinet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) down 9.5%</li>
<li>Axon Enterprise Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>) down 0.6%</li>
<li>Corteva Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTVA#NYSE">CTVA</a>) up 6.2%</li>
<li>Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) up 6.3%</li>
<li>Texas Pacific Land Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) up 1.5%</li>
<li>Atmos Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATO#NYSE">ATO</a>) up 0.6%</li>
<li>Fidelity National Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNF#NYSE">FNF</a>) down 7.0%</li>
<li>Western Gas Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WES#NYSE">WES</a>) up 2.9%</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) down 1.85%</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) up 4.30%</li>
<li>Canadian Natural Resources Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) up 4.93%</li>
<li>Cheniere Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNG#NYSE">LNG</a>) up 0.79%</li>
<li>Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>) up 0.83%</li>
<li>Cenovus Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVE#NYSE">CVE</a>) up 8.87%</li>
<li>Tapestry, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPR#NYSE">TPR</a>) up 4.26%</li>
<li>Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) down 3.44%</li>
<li>Lincoln National Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNC#NYSE">LNC</a>) down 0.60%</li>
<li>PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) up 1.64%</li>
<li>Hanesbrands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBI#NYSE">HBI</a>) up 5.21%</li>
<li>Spectrum Brands Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPB#NYSE">SPB</a>) up 3.81%</li>
<li>Global Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) down 2.15%</li>
<li>NCR Voyix Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VYX#NYSE">VYX</a>) up 15.14%</li>
<li>Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) down 7.16%</li>
</ul>
Stocks slated to report earnings after the close include Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>), and News Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>).
Read now: 
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<li><a href="https://www.benzinga.com/politics/25/05/45293839/trump-starmer-strike-us-uk-trade-deal-steel-cars-beef">Trump, Starmer Strike US-UK Trade Deal: Steel, Cars, Beef At Center Of Pact</a></li>
</ul>

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Wall Street Rallies After US Seals First Trade Deal: 'You Better Go Out And Buy Stock,' Trump Says

Keybanc analyst Eric Heath maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Overweight and lowers the price target from $120 to $115.

Keybanc Maintains Overweight on Fortinet, Lowers Price Target to $115

Scotiabank analyst Patrick Colville maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Sector Outperform and lowers the price target from $135 to $115.

Scotiabank Maintains Sector Outperform on Fortinet, Lowers Price Target to $115

Wells Fargo analyst Andrew Nowinski maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Equal-Weight and lowers the price target from $105 to $95.

Wells Fargo Maintains Equal-Weight on Fortinet, Lowers Price Target to $95

Stifel analyst Adam Borg maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Hold and lowers the price target from $115 to $95.

Stifel Maintains Hold on Fortinet, Lowers Price Target to $95

Baird analyst Shrenik Kothari maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Neutral and lowers the price target from $113 to $108.

Baird Maintains Neutral on Fortinet, Lowers Price Target to $108

Press Releases

Fortinet Wins 2025 Google Cloud Technology Partner of the Year Award

Fortinet Releases its 2024 Sustainability Report

General

Fortinet Achieves GovRAMP Security Authorization

Fortinet Threat Report Reveals Record Surge in Automated Cyberattacks as Adversaries Weaponize AI and Fresh Techniques

Vodafone Business and Fortinet Expand Global Partnership to Secure Hybrid Work

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