TD Cowen analyst Shaul Eyal maintains $Fortinet (FTNT.US)$ with a buy rating, and maintains the target price at $90.
According to TipRanks data, the analyst has a success rate of 70.6% and a total average return of 26.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Fortinet (FTNT.US)$'s main analysts recently are as follows:
The company delivered stronger than expected billings for Q3, yet provided a more cautious guidance for Q4.
Fortinet's overall third-quarter results were considered satisfactory, yet the reacceleration in billings and the guidance for the fourth quarter were seen as somewhat lacking in excitement. It is believed that the company's shares are currently fairly valued.
The firm has presented a cautious billings-growth expectation, indicating a current subdued interest in product updates. Nevertheless, management has underscored a considerable upcoming refresh-cycle in FY25, which is anticipated to invigorate demand ahead of 2026, due to a substantial number of older FortiGate units approaching their end-of-support phase.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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