Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fortinet, Inc. regarding a class action lawsuit due to alleged false statements and misrepresentations made by the company during a specific class period [1]. Summary by Relevant Sections Allegations - The complaint alleges that Fortinet misrepresented the potential profitability of its product refresh cycle, claiming it would be more lucrative than it actually was, as it involved old products that constituted a "small percentage" of the company's business [1]. - It is also claimed that Fortinet did not have a clear understanding of the actual number of FortiGate firewalls eligible for upgrades and misled investors about the momentum of the refresh cycle, stating it would gain traction over two years while pushing through about half of it in just a few months by the end of Q2 2025 [1]. Class Action Details - The class period for the lawsuit is defined as November 8, 2024, to August 6, 2025, and shareholders are encouraged to register for participation [2]. - The deadline for shareholders to seek lead plaintiff status is November 21, 2025, and there is no cost or obligation to participate in the case [2]. Firm's Mission - The Gross Law Firm aims to protect the rights of investors who have suffered losses due to deceitful practices and seeks to ensure companies adhere to responsible business practices [3].

Core Points - A securities class action lawsuit has been filed against Fortinet, Inc. for alleged misleading statements and omissions during the Class Period from November 8, 2024, to August 6, 2025 [1][2] - The lead plaintiff deadline for investors to seek representation is November 21, 2025 [1][3] Allegations Against Fortinet - The complaint claims that Fortinet misrepresented the profitability of its refresh cycle, stating it would be more lucrative than it actually was, as it involved old products that constituted a "small percentage" of the business [2] - Fortinet allegedly concealed the true number of FortiGate firewalls eligible for upgrades, leading to misleading statements about the company's operations and prospects [2] - The company is accused of misrepresenting the momentum of the refresh cycle, having pushed through approximately half of it in just a few months by the end of Q2 2025, contrary to claims of gradual growth over two years [2]

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, leading to significant losses for investors [7]. Allegation Details - The lawsuit claims that Fortinet's management misled investors about the profitability of the refresh cycle, stating it would be lucrative when it was actually based on outdated products that represented a small portion of the business [7]. - It is alleged that Fortinet did not have a clear understanding of the number of FortiGate firewalls eligible for upgrades and misrepresented the momentum of the refresh cycle, which was pushed through rapidly in a short time frame [7]. - On August 6, 2025, Fortinet disclosed during an earnings call that it was only 40% to 50% through the 2026 upgrade cycle, contradicting previous statements about the refresh's potential impact [7]. Impact on Stock Price - Following the revelations during the earnings call, Fortinet's stock price dropped by more than 22%, indicating a significant market reaction to the disclosed information [7].

Core Insights - Fortinet (NASDAQ: FTNT) is a cybersecurity company that provides integrated network, cloud, and endpoint protection solutions, with earnings scheduled for November 5, prompting analysis of its stock for potential investment opportunities [1] Group 1: Company Overview - Fortinet specializes in cybersecurity solutions, focusing on integrated network, cloud, and endpoint protection [1] Group 2: Investment Strategy - The analysis emphasizes a GARP (growth at a reasonable price) investment strategy while remaining open to other opportunities [1] - The investment horizon is flexible, with a focus on holding stocks as long as the investment thesis remains valid [1] Group 3: Analyst Background - The analyst has developed market-beating algorithms using Python to identify attractive investment opportunities and has been investing since 2016 [1] - Previous experience includes roles at TipRanks as an analysis/news writer and editor, enhancing the understanding of market trends and investor interests [1]

Core Insights - Fortinet (NASDAQ: FTNT) is a cybersecurity company that provides integrated network, cloud, and endpoint protection solutions, with earnings scheduled for November 5, prompting analysis of its stock for potential investment opportunities [1] Group 1: Company Overview - Fortinet specializes in cybersecurity solutions, focusing on integrated protection across network, cloud, and endpoint environments [1] Group 2: Investment Strategy - The analysis emphasizes a GARP (growth at a reasonable price) investment strategy while remaining open to various investment opportunities [1] - The investment horizon is flexible, with a focus on holding stocks as long as the investment thesis remains valid [1] Group 3: Analytical Background - The analyst has developed market-beating algorithms using Python to identify attractive investment opportunities [1] - Previous experience includes roles at TipRanks as an analysis/news writer and editor, enhancing the understanding of market trends and investor interests [1]

Core Viewpoint - A class action securities lawsuit has been filed against Fortinet, Inc. for alleged securities fraud affecting investors between November 8, 2024, and August 6, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Fortinet's management made false statements regarding the refresh cycle of their products, suggesting it would be more profitable than it actually was, as it involved older products that represented a "small percentage" of the company's business [2]. - It is alleged that Fortinet misrepresented the number of FortiGate firewalls eligible for upgrades and that the company had pushed through approximately half of the refresh in just a few months, contrary to claims of a gradual momentum over two years [2]. Group 2: Investor Information - Investors who suffered losses during the specified timeframe have until November 21, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving in this role [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating no financial obligation to participate in the lawsuit [3]. Group 3: Legal Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States, with over 70 employees dedicated to serving clients [4].

Core Insights - Fortinet (FTNT) is at a pivotal moment as its firewall upgrade cycle is halfway through, with 40-50% of the refresh opportunity completed, driven by customers replacing legacy systems with Next-Generation Firewalls (NGFWs) before their 2026 end-of-service dates [1] Financial Performance - In Q2 2025, Fortinet's billings increased by 15% year-over-year to $1.78 billion, indicating strong demand for its advanced NGFWs, which integrate AI-driven threat prevention, zero-trust access, and secure SD-WAN [2] - The company anticipates that approximately 650,000 firewall units will reach end-of-service by late 2026, followed by another 350,000 low-end units in 2027, presenting a stable revenue opportunity [2] - Fortinet raised its 2025 billings guidance by $100 million to a range of $7.325-$7.475 billion, reflecting confidence in continued demand [3] Growth Projections - The Zacks Consensus Estimate projects Fortinet's total revenues to grow by 13.29% in 2025 and 11.05% in 2026, indicating steady double-digit growth [4] - Earnings estimates for Fortinet are $2.52 per share for 2025 and $2.77 per share for 2026, suggesting year-over-year earnings growth of 6.33% for 2025 and 9.83% for 2026 [13] Competitive Landscape - Fortinet competes with Palo Alto Networks (PANW) and Check Point Software Technologies (CHKP) in the next-generation firewall market. While PANW excels in enterprise deployments and advanced cloud integration, Fortinet maintains an edge in cost efficiency for mid-sized businesses [5] - Check Point emphasizes a prevention-first security approach, but Fortinet's integrated Security Fabric and faster innovation provide it with a competitive advantage in scalability and efficiency [6] Valuation Metrics - Fortinet shares have declined by 10.4% year-to-date, underperforming the Zacks Security industry's 23.2% rally and the broader Computer and Technology sector's 23.8% growth [7] - The company appears overvalued with a forward 12-month price-to-sales ratio of 8.84, higher than the sector's average of 6.94 [10]

Core Insights - Fortinet (NASDAQ: FTNT) has achieved an Annual Recurring Revenue (ARR) growth of 69%, positively impacting its operating and net margins [1] Company Summary - Fortinet is recognized as a leading global cybersecurity company [1] - The increase in NATO spending is expected to further benefit Fortinet's business [1] Industry Context - The technology sector, particularly Software as a Service (SaaS) and cloud businesses, is highlighted for its significant growth opportunities [1]

Core Insights - Fortinet (NASDAQ: FTNT) is a leading global cybersecurity company that has achieved a 69% increase in its Annual Recurring Revenue (ARR), positively impacting its operating and net margins [1]. Company Performance - The significant increase in NATO spending is expected to further benefit Fortinet, enhancing its market position and financial performance [1]. Industry Context - The cybersecurity sector, particularly companies like Fortinet, is experiencing robust growth driven by increased demand for security solutions amid rising global threats [1].

https://securitiesclasslaw.com/securities/fortinet-inc-loss-submission-form/?id=173408&from=4 CLASS PERIOD: November 8, 2024 to August 6, 2025 Accessibility StatementSkip Navigation NEW YORK, Oct. 23, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Fortinet, Inc. (NASDAQ: FTNT). Shareholders who purchased shares of FTNT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not r ...