In a report released today, Saket Kalia from Barclays maintained a Hold rating on Fortinet (FTNT – Research Report), with a price target of $80.00. The company’s shares closed last Friday at $64.18.
Kalia covers the Technology sector, focusing on stocks such as Autodesk, Adobe, and Palo Alto Networks. According to TipRanks, Kalia has an average return of 14.3% and a 58.98% success rate on recommended stocks.
Fortinet has an analyst consensus of Moderate Buy, with a price target consensus of $76.07, a 18.53% upside from current levels. In a report released on April 15, RBC Capital also maintained a Hold rating on the stock with a $71.00 price target.
Based on Fortinet’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.42 billion and a net profit of $310.9 million. In comparison, last year the company earned a revenue of $1.28 billion and had a net profit of $313.8 million
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Fortinet (FTNT) Company Description:
Founded in 2000, California-based Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions to a variety of business, such as enterprises, communication service providers and small businesses.
Read More on FTNT:
- Fortinet Named a Challenger in the 2024 Gartner® Magic Quadrant™ for Security Service Edge
- Fortinet Releases its 2023 Sustainability Report
- Fortinet Wins Two Google Cloud Technology Partner of the Year Awards for Security
- Early notable gainers among liquid option names on April 3rd
- Fortinet Introduces Expansive Upgrades to its Real-Time Network Security Operating System to Empower Enterprises to Fortify Their Networks
