On July 6, Fortinet rose 3.49% in regular trading, trading at $162.49/share with turnover of $103 million, hitting a fresh 52-week high. The stock gained amid a broad cybersecurity sector rally, with peers CrowdStrike surging 5.82% and Palo Alto Networks climbing 3.74%.

On the fundamental side, Fortinet reported Q1 revenue of $1.85 billion, up 20.1% year over year, significantly beating the $1.732 billion consensus estimate. Product revenue jumped 41% as enterprise customers upgraded to higher-performance firewall appliances for AI infrastructure needs. The company also raised its full-year outlook, guiding adjusted EPS of $3.10–$3.16 versus the prior $2.94–$3.00 range.

Over the past two months, multiple institutions have raised price targets on Fortinet, including BofA Securities to $180 (Buy), Barclays to $155, and Capital One to $150, reflecting growing confidence in AI-driven security demand expansion. The stock continues to benefit from its FortiAIGate collaboration with Nvidia targeting real-time protection of AI workloads in data centers and the cloud.

(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.)