FTNT stock rose 0.5% on February 23, 2026. The cybersecurity sector experienced significant weakness on this date. Shares of cybersecurity companies including CrowdStrike, Datadog, and Zscaler fell approximately 11%, while Fortinet declined roughly 6% initially before recovering slightly. The sector decline was driven by investor concerns following Anthropic's launch of Claude Code Security, a new AI tool designed to detect vulnerabilities in open-source software. Additionally, Amazon reported that a Russian-speaking threat actor used AI services to breach over 600 Fortinet FortiGate firewalls across 55 countries between January 11 and February 18, 2026, exploiting exposed management interfaces and weak credentials rather than product vulnerabilities. Freedom Capital Markets downgraded Fortinet from Buy to Hold on February 17, citing valuation concerns and margin pressures from memory prices and competition.
Read full analysisFTNT stock rose 0.5% on February 23, 2026. The cybersecurity sector experienced significant weakness on this date. Shares of cybersecurity companies including CrowdStrike, Datadog, and Zscaler fell approximately 11%, while Fortinet declined roughly 6% initially before recovering slightly. The sector decline was driven by investor concerns following Anthropic's launch of Claude Code Security, a new AI tool designed to detect vulnerabilities in open-source software. Additionally, Amazon reported that a Russian-speaking threat actor used AI services to breach over 600 Fortinet FortiGate firewalls across 55 countries between January 11 and February 18, 2026, exploiting exposed management interfaces and weak credentials rather than product vulnerabilities. Freedom Capital Markets downgraded Fortinet from Buy to Hold on February 17, citing valuation concerns and margin pressures from memory prices and competition.
Fortinet is a major cybersecurity company that sells enterprise-grade firewalls, network security appliances, and cloud-based security services including its Unified SASE platform. The company reported strong Q4 2025 results with 15% revenue growth and a 40% surge in SASE billings. Its stock is currently caught in a sector-wide selloff triggered by fears that Anthropic's AI security tools could disrupt traditional cybersecurity business models.