FTNT - Cybersecurity Firm Fortinet Takes 'Step In Right Direction': 7 Analysts Deep Dive Into Q4 Print | Benzinga
Shares of Fortinet Inc (NASDAQ: FTNT) climbed in premarket trading on Wednesday, after the cybersecurity company reported better-than-expected fourth-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
- Piper Sandler analyst Rob Owens maintained a Neutral rating, while lifting the price target from $60 to $75.
- Truist Securities analyst Junaid Siddiqui reiterated a Buy rating, while raising the price target from $60 to $80.
- Mizuho Securities analyst Michael Romanelli reaffirmed a Neutral rating, while lifting the price target from $60 to $70.
- Stifel analyst Adam Borg maintained a Hold rating, while raising the price target from $52 to $78.
- Wedbush analyst Daniel Ives reiterated an Outperform rating, while lifting the price target from $75 to $86.
- Baird analyst Shrenik Kothari reiterated an Outperform rating and price target of $81.
- KeyBanc Capital Markets analyst Eric Heath reaffirmed a Sector Weight rating on the stock.
Check out other analyst stock ratings.
Piper Sandler: "Following two quarters of resets, 4Q results provided a sense of stabilization to the narrative, with billings showing strong outperformance on large deal trends / execution, helping the 2024 billings guide come in modestly ahead of expectations,” Owens wrote in a note.
While Fortinet’s secure networking business could continue facing ...