Core Points - A class action lawsuit has been filed against Fortinet, Inc. for alleged securities fraud and unlawful business practices [2] - Fortinet disclosed during its earnings call that it was 40% to 50% through the 2026 upgrade cycle for its FortiGate firewalls, indicating challenges in predicting upgrade needs and suggesting customers may not require upgrades due to excess capacity [2] - Following the news, Fortinet's stock price dropped by $21.28, or 22.03%, closing at $75.30 per share [3] Summary by Sections Class Action Details - The lawsuit concerns potential securities fraud by Fortinet and its officers/directors [2] - Investors have until November 21, 2025, to request to be appointed as Lead Plaintiff if they purchased Fortinet securities during the Class Period [2] Company Performance - Fortinet's earnings call revealed that the refresh cycle for FortiGate firewalls had limited business impact, as only a small percentage of the business was affected [2] - The company admitted difficulty in predicting the total number of FortiGates needing upgrades and noted that prior purchases had led to excess firewall capacity [2] Stock Market Reaction - The announcement led to a significant decline in Fortinet's stock price, reflecting investor concerns over the company's future performance and upgrade cycle [3]

Core Insights - 87% of cybersecurity professionals believe AI will enhance their roles, providing efficiency and relief amid ongoing skill shortages [3][4] - The 2025 Global Cybersecurity Skills Gap Report highlights a critical shortage of over 4.7 million skilled professionals, leading to unfilled security roles and increased breach rates [2][4] - Organizations are increasingly adopting AI-enabled cybersecurity solutions, with 97% either using or planning to implement such technologies [4][5] Cybersecurity Skills Gap - The report indicates that 86% of organizations experienced at least one cyber breach in 2024, a rise from 80% in 2021, with 28% reporting five or more breaches [4] - More than 50% of respondents cited a lack of IT security skills and training as a leading cause of breaches [4] - Financial impacts of breaches are significant, with 52% of organizations reporting costs exceeding $1 million in 2024, up from 38% in 2021 [4] AI in Cybersecurity - While AI can alleviate pressure on security teams, nearly half (48%) of IT decision-makers identify a lack of staff with sufficient AI expertise as a major challenge [4][5] - 80% of surveyed professionals believe AI is making their teams more effective, but 76% of organizations that faced nine or more cyberattacks in 2024 had AI tools in place, indicating that mere adoption is insufficient without expertise [4][5] Board-Level Focus - Cybersecurity is increasingly recognized as a board-level priority, with 76% of boards increasing their focus on the issue in 2024 [9] - However, fewer than half (49%) of board members fully understand the risks associated with AI, highlighting a gap in awareness [9] Upskilling and Training - The report emphasizes the need for organizations to invest in training and upskilling to close the cybersecurity skills gap [5][6] - Fortinet aims to train 1 million people in cybersecurity globally by the end of 2026, reflecting a commitment to addressing the skills shortage [7]

Core Viewpoint - A class action lawsuit has been filed against Fortinet, Inc. for alleged misrepresentations regarding the company's product refresh cycle and its impact on business performance [7]. Allegation Details - The lawsuit claims that Fortinet's management misled investors about the profitability of the refresh cycle, stating it would not be as lucrative as represented due to the old products being a "small percentage" of the business [7]. - It is alleged that Fortinet concealed the uncertainty regarding the number of FortiGate firewalls eligible for upgrades and misrepresented the momentum of the refresh cycle [7]. - Following the earnings call on August 6, 2025, where it was revealed that Fortinet was only "approximately 40% to 50% of the way through the 2026 upgrade cycle," the stock price fell over 22% [7]. Next Steps - Investors who purchased Fortinet shares during the class period (November 8, 2024, to August 6, 2025) and suffered losses are encouraged to contact the law firm for more information and to discuss their legal rights [4][8].

NEW YORK, Oct. 07, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Fortinet, Inc. (NASDAQ: FTNT) between November 8, 2024 and August 6, 2025, both dates inclusive (the “Class Period”), of the important November 21, 2025 lead plaintiff deadline. SO WHAT: If you purchased Fortinet common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangemen ...

Core Insights - Fortinet (FTNT) is focusing on two rapidly growing areas in cybersecurity: Secure Access Service Edge (SASE) and Security Operations (SecOps) to strengthen its position in integrated network security [1][12] Business Strategy - In late 2025, Fortinet advanced its unified SASE platform and AI-driven SecOps capabilities, being recognized as a Leader in the 2025 Gartner Magic Quadrant for SASE Platforms, with increased momentum from multi-product enterprise deals [2] - Fortinet expanded its partnership with Armis to enhance asset visibility and AI-led threat detection, emphasizing automation, scalability, and long-term growth in intelligent security solutions [3] - The company’s unified FortiOS architecture integrates all core SASE elements, simplifying deployment and improving operational efficiency for global customers [5] Financial Performance - Fortinet raised its full-year 2025 billing guidance by $100 million to $7.44 billion, indicating a 14% year-over-year growth driven by strong demand for FortiSASE and SecOps offerings [6][12] - In Q2 2025, SASE and SecOps billings increased by 21% and 31% year-over-year, respectively, showcasing accelerating enterprise adoption [7] Competitive Landscape - Fortinet's main competitor, Palo Alto Networks (PANW), utilizes advanced next-generation firewalls and AI-driven platforms, although its premium pricing may deter cost-sensitive organizations [8][9] - Cisco Systems (CSCO) competes by integrating security across its networking ecosystem, leveraging its scale and infrastructure, though it is less specialized in niche security domains compared to Fortinet [10] Valuation and Earnings Estimates - Fortinet's shares have declined by 8.6% year-to-date, underperforming the Zacks Security industry's 21% growth and the broader Computer and Technology sector's 22.7% increase [13] - The company appears overvalued with a forward 12-month price-to-sales ratio of 8.98, higher than the sector average of 6.94 [15] - The Zacks Consensus Estimate for Fortinet's earnings is $2.52 per share for 2025 and $2.78 per share for 2026, indicating year-over-year earnings growth of 6.33% for 2025 and 10.18% for 2026 [18]

Core Insights - Fortinet is participating in the World Economic Forum (WEF) Annual Meeting on Cybersecurity in Dubai from October 14-16, marking its fifth consecutive year at the event [1][2] - The company emphasizes the importance of public-private partnerships in enhancing global cyber resilience and addressing the evolving threat landscape influenced by AI [2][7] - Fortinet is actively involved in initiatives such as the Partnership Against Cybercrime and the Cybercrime Atlas, contributing to the development of frameworks for collaboration and intelligence sharing [3][10] Company Initiatives - Fortinet's Chief Security Strategist, Derek Manky, will participate in a panel discussion titled "Scaling Disruption: The Next Chapter in Cybercrime Collaboration," focusing on leveraging private sector expertise to combat cybercrime [2][6] - The Cybercrime Atlas, launched in 2024, aims to coordinate efforts across sectors to map and disrupt cybercriminal activities, with contributors sharing over 10,000 actionable data points in its first year [3][12] - Fortinet is a founding partner of the WEF Centre for Cybersecurity and has contributed to the Strategic Cybersecurity Talent Framework and AI and Cyber Initiative [2][3] Industry Context - According to the WEF's Global Cybersecurity Outlook 2025 report, over 70% of global leaders perceive rising cybersecurity risks, highlighting the need for collaboration and interdisciplinary approaches to strengthen defenses [7][8] - The Annual Meeting on Cybersecurity is being held alongside the Annual Meeting of the Global Future Councils 2025, aiming to leverage insights from various stakeholders to address cybersecurity challenges [8]

Core Viewpoint - A class action lawsuit has been filed against Fortinet, Inc. for allegedly misrepresenting the impact of unit upgrades of its FortiGate firewalls, leading to significant stock price decline when the truth was revealed [1][2][3]. Group 1: Allegations - The lawsuit claims that Fortinet failed to disclose the difficulty in predicting the total number of FortiGates requiring an upgrade [2]. - It is alleged that customers had excess firewall capacity from previous purchases, reducing the necessity for upgrades [2]. - The complaint states that the refresh of the firewalls had minimal business impact, as it represented only a small percentage of the company's business due to the age of the products [2]. Group 2: Stock Price Impact - Following the revelation of these allegations, Fortinet's stock price dropped over 22%, from $96.58 per share on August 6, 2025, to $75.30 per share on August 7, 2025 [3]. Group 3: Class Action Participation - Shareholders may be eligible to participate in the class action against Fortinet and can contact Robbins LLP if they wish to serve as lead plaintiff [4]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4]. Group 4: Firm Background - Robbins LLP is recognized for its leadership in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [5].

RADNOR, Pa., Oct. 06, 2025 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Fortinet, Inc. (“Fortinet”) (NASDAQ: FTNT) on behalf of those who purchased or otherwise acquired Fortinet common stock between November 8, 2024, and August 6, 2025, inclusive (the “Class Period”). The lead plaintiff deadline is November 21, 2025. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you suffered Fortinet lo ...

NEW YORK, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Fortinet, Inc. ("Fortinet, Inc." or the "Company") (NASDAQ: FTNT) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Fortinet, Inc. investors who were adversely affected by alleged securities fraud between November 8, 2024 and August 6, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/fortinet-inc-la ...

Core Insights - Fortinet (FTNT) is positioned to potentially continue its earnings-beat streak, having a history of exceeding earnings estimates, particularly in the last two quarters with an average surprise of 8.95% [1][5] Earnings Performance - For the most recent quarter, Fortinet reported earnings of $0.59 per share against an expectation of $0.64, resulting in a surprise of 8.47%. In the previous quarter, the company reported $0.58 per share compared to a consensus estimate of $0.53, achieving a surprise of 9.43% [2][5] Earnings Estimates and Predictions - There has been a favorable change in earnings estimates for Fortinet, with a positive Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of an earnings beat, especially given its solid Zacks Rank [5][8] - The current Earnings ESP for Fortinet is +4.45%, suggesting that analysts have recently become more optimistic about the company's earnings prospects [8] Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [6][8] - The next earnings report for Fortinet is expected to be released on November 5, 2025 [8]