Recent Analysts’ Ratings Changes for Fortinet (FTNT)

Several analysts have recently updated their ratings and price targets for Fortinet (NASDAQ: FTNT):

• 6/8/2026 – Fortinet had its “buy” rating reaffirmed by TD Cowen. They now have a $160.00 price target on the stock, up from $125.00.
• 6/8/2026 – Fortinet had its price target raised by Bank of America Corporation from $130.00 to $180.00. They now have a “buy” rating on the stock.
• 5/26/2026 – Fortinet had its price target raised by BTIG Research from $125.00 to $150.00. They now have a “buy” rating on the stock.
• 5/19/2026 – Fortinet was downgraded by Weiss Ratings from “hold (c+)” to “hold (c)”.
• 5/19/2026 – Fortinet was downgraded by DZ Bank AG from “buy” to “hold”. They now have a $125.00 price target on the stock.
• 5/14/2026 – Fortinet was upgraded by Zacks Research from “hold” to “strong-buy”.
• 5/8/2026 – Fortinet had its price target raised by Citigroup Inc. from $90.00 to $115.00. They now have a “neutral” rating on the stock.
• 5/8/2026 – Fortinet had its price target raised by Susquehanna from $90.00 to $115.00. They now have a “neutral” rating on the stock.
• 5/7/2026 – Fortinet had its “sector perform” rating reaffirmed by Royal Bank Of Canada. They now have a $107.00 price target on the stock, up from $90.00.
• 5/7/2026 – Fortinet had its “underweight” rating reaffirmed by Morgan Stanley. They now have a $80.00 price target on the stock.
• 5/7/2026 – Fortinet had its “hold” rating reaffirmed by Deutsche Bank Aktiengesellschaft. They now have a $100.00 price target on the stock.
• 5/7/2026 – Fortinet was given a new $120.00 price target by Truist Financial Corporation. They now have a “buy” rating on the stock.
• 5/7/2026 – Fortinet was given a new $115.00 price target by Robert W. Baird.
• 5/7/2026 – Fortinet had its “underweight” rating reaffirmed by Wells Fargo & Company. They now have a $70.00 price target on the stock, up from $64.00.
• 5/7/2026 – Fortinet was given a new $115.00 price target by Stephens. They now have an “equal weight” rating on the stock.
• 5/7/2026 – Fortinet was given a new $115.00 price target by Barclays PLC. They now have an “equal weight” rating on the stock.
• 5/7/2026 – Fortinet had its “buy” rating reaffirmed by TD Cowen. They now have a $125.00 price target on the stock, up from $100.00.
• 5/7/2026 – Fortinet had its price target raised by UBS Group AG from $90.00 to $115.00. They now have a “neutral” rating on the stock.
• 5/7/2026 – Fortinet had its price target raised by JPMorgan Chase & Co. from $73.00 to $75.00. They now have an “underweight” rating on the stock.
• 5/7/2026 – Fortinet had its price target raised by Scotiabank from $85.00 to $110.00. They now have a “sector perform” rating on the stock.
• 5/7/2026 – Fortinet had its price target raised by Piper Sandler from $90.00 to $110.00. They now have a “neutral” rating on the stock.
• 5/7/2026 – Fortinet had its price target raised by Rosenblatt Securities from $105.00 to $125.00. They now have a “buy” rating on the stock.
• 5/7/2026 – Fortinet had its price target raised by Mizuho from $70.00 to $86.00. They now have an “underperform” rating on the stock.
• 5/7/2026 – Fortinet was upgraded by BTIG Research from “neutral” to “buy”. They now have a $125.00 price target on the stock.
• 5/4/2026 – Fortinet was given a new $100.00 price target by Compass Point.
• 5/4/2026 – Fortinet had its price target raised by BMO Capital Markets from $95.00 to $100.00. They now have a “market perform” rating on the stock.
• 4/27/2026 – Fortinet was given a new $104.00 price target by Arete Research. They now have a “buy” rating on the stock.
• 4/27/2026 – Fortinet was upgraded by Arete Research from “strong sell” to “strong-buy”.
• 4/24/2026 – Fortinet was upgraded by Weiss Ratings from “hold (c)” to “hold (c+)”.
• 4/21/2026 – Fortinet had its “neutral” rating reaffirmed by Cantor Fitzgerald. They now have a $87.00 price target on the stock.
• 4/14/2026 – Fortinet had its price target lowered by Mizuho from $74.00 to $70.00. They now have an “underperform” rating on the stock.

Insider Buying and Selling

In related news, CEO Ken Xie sold 160,632 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $145.58, for a total transaction of $23,384,806.56. Following the transaction, the chief executive officer directly owned 52,972,372 shares in the company, valued at $7,711,717,915.76. The trade was a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael Xie sold 3,907 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total value of $572,141.08. Following the transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 318,387 shares of company stock worth $43,403,063 in the last ninety days. 17.60% of the stock is owned by insiders.

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.