On August 7, Fortinet rose 3.05% in pre-market trading, trading at approximately $165.9/share, with turnover of $1.2763 million.

The stock continues to gain following its Q2 earnings beat reported on July 29, in which adjusted EPS of $0.90 significantly exceeded the $0.75 consensus estimate while revenue of $2.048 billion surpassed the $1.889 billion forecast. The company raised its full-year revenue outlook to $8.02-$8.18 billion, representing approximately 19% year-over-year growth at the midpoint, and guided Q3 adjusted EPS of $0.83-$0.87 versus estimates of $0.76.

Since the earnings release, multiple analysts have raised price targets, including Daiwa Securities to $165, Barclays to $190, Stephens to $165, Citigroup to $165, and Susquehanna to $160, though most maintained neutral ratings. The average analyst price target has risen to $162.29. Additionally, the company announced a strategic partnership with Intel to co-develop its Security Processor 6, strengthening its hardware capabilities and supply chain resilience amid growing AI-driven cybersecurity demand.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)