Fortinet falls after JP Morgan downgrades to 'underweight'

Fortinet

17/12/2025 12:16

** Cybersecurity firm Fortinet's FTNT.O shares fall 2.1% to 80.75 premarket

** J.P. Morgan downgrades stock to "underweight"; cuts PT to $75 from $85, a downside of 9% to stock's last close of $82.47

** Brokerage says FTNT facing headwinds as platform consolidation accelerates and competitive positioning weakens

** Recent survey by cybersecurity research firm IANS indicates that FTNT has relatively low levels of recognition as a platform compared to competitors - JPM

** Brokerage says acquisitions have contributed to FTNT’s growth profile over the past few years, but inorganic growth is unlikely to provide upside in 2026

** 10 of 43 brokerages rate the stock "buy" or higher, 30 "hold" and 3 "sell"; their median PT is $86 - LSEG data

** As of last close, stock down 12.7% YTD

 (Reporting by Utkarsh Tushar Hathi)

 ((utkarshtushar.hathi@thomsonreuters.com))