Core Viewpoint - Fortinet, Inc. is expected to report its third-quarter results, with analysts projecting a slight decline in non-GAAP profit per share, while the company has consistently exceeded earnings expectations in recent quarters [2][5]. Financial Performance - Fortinet's Q3 non-GAAP profit is anticipated to be $0.55 per share, down 1.8% from $0.56 in the same quarter last year [2]. - For the full fiscal year 2025, adjusted EPS is expected to be $2.21, reflecting a 5.7% increase from $2.09 in 2024, with further growth projected for fiscal 2026 to $2.42 per share, a 9.5% year-over-year increase [3]. - The company's Q2 revenue grew 14% year-over-year to $1.6 billion, with net income rising 15.9% to $440.1 million, both figures surpassing consensus estimates [5]. Market Performance - Fortinet's stock has seen a modest increase of 2.7% over the past 52 weeks, significantly underperforming the Technology Select Sector SPDR Fund's 23.2% gains and the S&P 500 Index's 14.5% returns during the same period [4]. - Following the release of Q2 results, despite better-than-expected financials, Fortinet's stock price dropped over 22% in a single trading session due to missed revenue guidance for Q3 [5][6]. Analyst Sentiment - Analysts maintain a cautious outlook on Fortinet, with a consensus "Hold" rating. Among 43 analysts, there are nine "Strong Buys," 31 "Holds," one "Moderate Sell," and two "Strong Sells" [7]. - The stock is currently trading slightly below its mean price target of $88.30 [7].

Core Points - The Gross Law Firm has issued a notice to shareholders of Fortinet, Inc. regarding a class action lawsuit related to alleged false statements made by the company during a specific period [1][3] - The class period for the lawsuit is from November 8, 2024, to August 6, 2025, during which Fortinet is accused of misrepresenting the potential profitability of its product refresh cycle [3][4] - Shareholders are encouraged to register for the class action by November 21, 2025, to potentially become lead plaintiffs and receive updates on the case [4] Allegations - The complaint alleges that Fortinet's management misled investors about the refresh cycle's profitability, claiming it would be more lucrative than it actually was, as it involved old products that represented a "small percentage" of the company's business [3] - It is also claimed 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, stating it would gain traction over two years while it was pushed through rapidly in just a few months [3] Next Steps for Shareholders - Shareholders who purchased FTNT shares during the class period should register to be enrolled in a portfolio monitoring system that will provide updates on the case [4] - There is no cost or obligation for shareholders to participate in the class action [4] About the Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [5]

Core Viewpoint - A securities class action lawsuit has been filed against Fortinet, Inc. for allegedly making false and misleading statements regarding its business operations and product refresh cycle during the specified Class Period from November 8, 2024, to August 6, 2025 [1][2]. Allegations of Misconduct - The lawsuit claims that Fortinet misrepresented the profitability of its product refresh cycle, stating it would be lucrative despite it consisting of older products that represented only a small portion of the business [2]. - It is alleged that Fortinet did not accurately disclose the actual number of FortiGate firewalls eligible for upgrades, leading to misleading statements about the company's operational capabilities [2]. - The complaint asserts that Fortinet misled investors by claiming that the refresh would gain momentum over two years, while in reality, the company had pushed through about half of the refresh in just a few months by the end of Q2 2025 [2]. - As a result of these actions, the statements made by Fortinet regarding its business, operations, and future prospects were materially false and lacked a reasonable basis [2]. Lead Plaintiff Process - Investors in Fortinet have until November 21, 2025, to seek appointment as a lead plaintiff representative in the class action, which involves directing the litigation on behalf of all class members [3]. - The lead plaintiff is typically the investor or group of investors with the largest financial interest in the case and is responsible for selecting legal counsel to represent the class [3]. Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering significant amounts for victims of corporate misconduct [4].

Core Insights - Conestoga Capital Advisors reported that equity markets reached new all-time highs in Q3 2025, but their Mid Cap Composite returned -3.2% net-of-fees, underperforming the Russell Midcap Growth Index which gained 2.8% [1] - The focus on high-quality, profitable companies struggled in a risk-on environment during the quarter [1] Company Highlights: Fortinet, Inc. (NASDAQ:FTNT) - Fortinet is recognized as the market share leader in network security firewalls by units and reported solid results in Q3 2025, but faced share pressure due to lower-than-expected revenue growth estimates for 2026 and 2027 [3] - The stock of Fortinet had a one-month return of -0.57% and a 52-week gain of 2.84%, closing at $84.78 per share with a market capitalization of $64.964 billion on October 21, 2025 [2] - Fortinet is not among the 30 most popular stocks among hedge funds, with 46 hedge fund portfolios holding its stock at the end of Q2 2025, down from 62 in the previous quarter [4] Investment Perspective - While Fortinet is acknowledged for its potential, the company is viewed as having less upside compared to certain AI stocks, which are believed to offer greater potential and lower downside risk [4]

Core Viewpoint - A class action lawsuit has been filed against Fortinet, Inc. for alleged misrepresentations regarding its product refresh cycle and the true number of FortiGate firewalls eligible for upgrades, leading to significant investor losses [7]. Allegation Details - The lawsuit claims that Fortinet's management misrepresented the potential profitability of the refresh cycle, stating it would not be as lucrative as suggested due to the age and limited scope of the products involved [7]. - It is alleged that Fortinet concealed the uncertainty regarding the number of FortiGates that required upgrades and misled investors about the momentum of the refresh cycle [7]. - Following the earnings call on August 6, 2025, where Fortinet disclosed that it was only 40% to 50% through the upgrade cycle, the stock price dropped over 22% [7]. Next Steps - Investors who purchased Fortinet shares during the specified 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]. - The deadline for investors to apply to be appointed as lead plaintiff in the lawsuit is November 21, 2025 [7]. About the Law Firm - Bragar Eagel & Squire, P.C. is a nationally recognized law firm that represents individual and institutional investors in complex litigation across various courts in the United States [5].

Core Viewpoint - Class action lawsuits have been filed on behalf of shareholders of several publicly-traded companies, with specific deadlines for filing lead plaintiff motions [1] Group 1: Fortinet, Inc. (NASDAQ: FTNT) - Class period is from November 8, 2024, to August 6, 2025, with a lead plaintiff deadline of November 21, 2025 [2] - Allegations include false and misleading statements regarding the refresh cycle's profitability, lack of clarity on upgradeable FortiGate firewalls, and misrepresentation of the refresh momentum [2] Group 2: Molina Healthcare, Inc. (NYSE: MOH) - Class period is from February 5, 2025, to July 23, 2025, with a lead plaintiff deadline of December 2, 2025 [3] - Allegations include failure to disclose adverse facts about medical cost trend assumptions, dependency on low utilization of services for growth, and likely cuts to financial guidance for fiscal year 2025 [3] Group 3: Marex Group plc (NASDAQ: MRX) - Class period is from May 16, 2024, to August 5, 2025, with a lead plaintiff deadline of December 8, 2025 [4] - Allegations include selling over-the-counter financial instruments to itself, inconsistencies in financial statements, and unreliability of Marex's financial disclosures [4]

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 [2]. - It is alleged that the refresh cycle consisted of old products that represented only a "small percentage" of Fortinet's overall business [2]. - The complaint also states that Fortinet misrepresented the number of FortiGate firewalls available for upgrade and that the refresh momentum was overstated, with only half of the refresh completed by the end of Q2 2025 [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until November 21, 2025, to request appointment as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

Core Viewpoint - A securities class action lawsuit has been filed against Fortinet, Inc. for allegedly making false and misleading statements regarding its business operations and product refresh cycle during the class period from November 8, 2024, to August 6, 2025 [1][2]. Allegations Against Fortinet - The lawsuit claims that Fortinet misrepresented the profitability of its product refresh cycle, stating it would be more lucrative than it actually was, as it involved older products that constituted a "small percentage" of the company's business [2]. - It is alleged that Fortinet did not have a clear understanding of the actual number of FortiGate firewalls eligible for upgrades, which misled investors about the company's operational capabilities [2]. - The company reportedly misled investors by claiming that the refresh would gain momentum over two years, while in reality, it pushed through about half of the refresh in just a few months by the end of the second quarter of 2025 [2]. - As a result of these actions, the statements made by Fortinet regarding its business, operations, and future prospects were deemed materially false and misleading [2]. Lead Plaintiff Process - Investors in Fortinet have until November 21, 2025, to seek appointment as a lead plaintiff representative in the class action lawsuit, which involves directing the litigation on behalf of all class members [3]. - The lead plaintiff is typically the investor or group of investors with the largest financial interest in the case and is responsible for selecting legal counsel to represent the class [3]. Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering billions for victims of corporate misconduct [4].

Core Insights - Range Financial Group LLC has fully exited its position in Fortinet, liquidating 29,944 shares for an estimated $3.2 million, which previously accounted for 1.2% of the fund's assets under management (AUM) [1][2]. Company Overview - Fortinet, Inc. is a global provider of integrated cybersecurity solutions, offering a broad product portfolio and scalable security infrastructure [4]. - The company serves a diverse customer base across various sectors, including telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare [4]. - Fortinet generates revenue primarily through hardware and software sales, security subscriptions, technical support, and professional services [5]. Financial Performance - As of October 17, 2025, Fortinet's market capitalization is $63.94 billion, with a trailing twelve months (TTM) revenue of $6.34 billion and a net income of $1.94 billion [3]. - The company's share price closed at $83.44 on October 17, 2025, reflecting a 3.2% increase over the past year, although it underperformed the S&P 500's total return by 12.4 percentage points [2]. Recent Developments - Fortinet reported a 14% revenue increase to over $1.6 billion, exceeding management's quarterly guidance, and adjusted diluted earnings per share of $0.64, which also surpassed budgeted figures [8]. - Despite the positive revenue growth, concerns arose regarding the completion of 40% to 50% of its planned firewall upgrade cycle, leading to fears of limited future revenue growth as many customers may have already upgraded [9]. - Following the second-quarter earnings release on August 6, 2025, Fortinet's share price dropped nearly 22% the next day, prompting several analysts to downgrade their ratings [7][9].

Core Viewpoint - A securities class action lawsuit has been filed against Fortinet, Inc. for allegedly making false and misleading statements regarding its business operations and product refresh cycle during the specified Class Period from November 8, 2024, to August 6, 2025 [1][2]. Allegations Against Fortinet - The lawsuit claims that Fortinet misrepresented the profitability of its product refresh cycle, stating it would be more lucrative than it actually was, as it involved older products that constituted a "small percentage" of the company's business [2]. - It is alleged that Fortinet did not have a clear understanding of the actual number of FortiGate firewalls eligible for upgrades, which misled investors about the company's operational capabilities [2]. - The complaint asserts that Fortinet falsely indicated that the product refresh would gain momentum over two years, while in reality, the company had pushed through about half of the refresh in just a few months by the end of the second quarter of 2025 [2]. - As a result of these actions, the statements made by Fortinet regarding its business, operations, and future prospects were materially false and misleading [2]. Lead Plaintiff Process - Investors in Fortinet have until November 21, 2025, to apply to be appointed as lead plaintiffs in the class action, representing the interests of all class members [3]. - The lead plaintiff is typically the investor or group of investors with the largest financial stake in the case and is responsible for directing the litigation [3]. Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering billions for victims of corporate misconduct [4].