Fortinet (FTNT) – Analysts’ Recent Ratings Changes

Fortinet (NASDAQ: FTNT) has recently received a number of price target changes and ratings updates:

• 8/3/2026 – Fortinet was upgraded by Wall Street Zen from “hold” to “buy”.
• 7/31/2026 – Fortinet was upgraded by Weiss Ratings from “hold (c+)” to “buy (b-)”.
• 7/31/2026 – Fortinet had its price target raised by Susquehanna from $115.00 to $160.00. They now have a “neutral” rating on the stock.
• 7/30/2026 – Fortinet was given a new $185.00 price target by Royal Bank Of Canada. They now have a “sector perform” rating on the stock.
• 7/30/2026 – Fortinet was given a new $165.00 price target by Robert W. Baird.
• 7/30/2026 – Fortinet was given a new $165.00 price target by Evercore Inc.
• 7/30/2026 – Fortinet had its “positive” rating reaffirmed by Morgan Stanley. They now have a $136.00 price target on the stock, up from $133.00.
• 7/30/2026 – Fortinet had its “hold” rating reaffirmed by Deutsche Bank Aktiengesellschaft. They now have a $160.00 price target on the stock.
• 7/30/2026 – Fortinet had its “neutral” rating reaffirmed by UBS Group AG. They now have a $180.00 price target on the stock.
• 7/30/2026 – Fortinet had its “sector perform” rating reaffirmed by Scotiabank. They now have a $163.00 price target on the stock.
• 7/30/2026 – Fortinet was given a new $175.00 price target by Stifel Nicolaus. They now have a “hold” rating on the stock.
• 7/30/2026 – Fortinet had its “buy” rating reaffirmed by The Goldman Sachs Group, Inc.. They now have a $190.00 price target on the stock.
• 7/30/2026 – Fortinet had its “neutral” rating reaffirmed by Piper Sandler. They now have a $175.00 price target on the stock, up from $110.00.
• 7/30/2026 – Fortinet had its “buy” rating reaffirmed by HC Wainwright.
• 7/30/2026 – Fortinet was given a new $135.00 price target by Wells Fargo & Company. They now have an “underweight” rating on the stock.
• 7/30/2026 – Fortinet was given a new $175.00 price target by Wolfe Research.
• 7/30/2026 – Fortinet was given a new $190.00 price target by Barclays PLC. They now have an “equal weight” rating on the stock.
• 7/30/2026 – Fortinet had its “overweight” rating reaffirmed by Cantor Fitzgerald. They now have a $185.00 price target on the stock, up from $165.00.
• 7/30/2026 – Fortinet was downgraded by DZ Bank AG from “hold” to “strong sell”.
• 7/30/2026 – Fortinet had its price target raised by Citigroup Inc. from $165.00 to $185.00. They now have a “neutral” rating on the stock.
• 7/30/2026 – Fortinet had its price target raised by Rosenblatt Securities from $185.00 to $195.00. They now have a “buy” rating on the stock.
• 7/30/2026 – Fortinet had its price target raised by BTIG Research from $186.00 to $203.00. They now have a “buy” rating on the stock.
• 7/30/2026 – Fortinet had its price target raised by BMO Capital Markets from $170.00 to $185.00. They now have a “market perform” rating on the stock.
• 7/27/2026 – Fortinet had its “buy” rating reaffirmed by Bank of America Corporation.
• 7/26/2026 – Fortinet was downgraded by Wall Street Zen from “buy” to “hold”.
• 7/23/2026 – Fortinet had its “neutral” rating reaffirmed by Cantor Fitzgerald. They now have a $165.00 price target on the stock, up from $110.00.
• 7/22/2026 – Fortinet had its “neutral” rating reaffirmed by Citigroup Inc.. They now have a $165.00 price target on the stock, up from $115.00.
• 7/21/2026 – Fortinet had its “market perform” rating reaffirmed by William Blair.
• 7/21/2026 – Fortinet was given a new $183.00 price target by Truist Financial Corporation. They now have a “buy” rating on the stock.
• 7/21/2026 – Fortinet was given a new $120.00 price target by Robert W. Baird.
• 7/21/2026 – Fortinet was upgraded by Morgan Stanley from “underweight” to “outperform”. They now have a $133.00 price target on the stock, up from $80.00.
• 7/20/2026 – Fortinet had its “underweight” rating reaffirmed by Wells Fargo & Company. They now have a $120.00 price target on the stock, up from $70.00.
• 7/18/2026 – Fortinet was upgraded by Wall Street Zen from “hold” to “buy”.
• 7/16/2026 – Fortinet had its “sector perform” rating reaffirmed by Royal Bank Of Canada. They now have a $160.00 price target on the stock.
• 7/15/2026 – Fortinet was given a new $125.00 price target by Mizuho. They now have an “underperform” rating on the stock.
• 7/14/2026 – Fortinet was upgraded by Zacks Research from “hold” to “strong-buy”.
• 7/13/2026 – Fortinet had its “buy” rating reaffirmed by TD Cowen. They now have a $215.00 price target on the stock, up from $160.00.
• 7/13/2026 – Fortinet had its price target raised by Barclays PLC from $155.00 to $170.00. They now have an “equal weight” rating on the stock.
• 7/10/2026 – Fortinet had its price target raised by BTIG Research from $150.00 to $186.00. They now have a “buy” rating on the stock.
• 6/29/2026 – Fortinet was downgraded by HSBC Holdings plc from “hold” to “reduce”. They now have a $102.00 price target on the stock.

Insiders Place Their Bets

In other Fortinet news, CEO Ken Xie sold 161,482 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the completion of the transaction, the chief executive officer directly owned 52,972,372 shares of the company’s stock, valued at $8,616,486,029.52. This represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total value of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares of the company’s stock, valued at $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 475,157 shares of company stock worth $69,480,964 in the last quarter. 17.60% of the stock is owned by corporate 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.