Shares of Fortinet Inc (NASDAQ: FTNT) tanked in early trading on Friday, after the company reported mixed quarterly results.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
- Truist Securities analyst Junaid Siddiqui maintained a Buy rating, while slashing the price target from $82 to $60.
- Guggenheim Securities analyst Raymond McDonough reiterated a Buy rating, which reducing the price target from $70 to $62.
- Needham analyst Matt Dezort reaffirmed a Hold rating on the stock.
- Oppenheimer analyst Ittai Kidron maintained a Perform rating on the stock.
- KeyBanc analyst Eric Heath reiterated a Sector Weight rating on the stock.
Check out other analyst stock ratings.
Truist Securities: Fortinet reported its third-quarter results below expectations, “amidst an increasingly challenging macro driven by continued weakness in its product revenue segment,” Siddiqui said in a note.
Management reset their full-year guidance, indicating a slowdown in the company’s core secure networking ...