Movement Alert｜Fortinet Rises 3.15% in Pre-Market Trading, Cybersecurity and AI Software Stocks Rally Broadly

Market Focus09-14 16:29

On September 14, Fortinet rose 3.15% in pre-market trading, trading at $160.99/share, with turnover of $749,000. The gain came amid a broad rally across cybersecurity and AI application software stocks.

Multiple cybersecurity names posted strong pre-market gains, with CrowdStrike up over 4%, and Okta, Palo Alto Networks, Zscaler, and SentinelOne each climbing more than 3%. AI application software stocks also advanced, with ServiceNow up nearly 4%, Salesforce and HubSpot rising over 3%, and GitLab and Duolingo gaining more than 2%. The sector-wide strength provided a favorable tailwind for Fortinet shares.

Notably, Wedbush recently downgraded Fortinet to neutral from outperform on September 11, while raising its price target to $155 from $125. The stock closed at $156.07 on September 11 after falling 1.75%. The current pre-market price of $160.99 has moved above both the new Wedbush target and the analyst consensus mean price target of $166.54.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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