Bank of America Securities analyst Tal Liani has reiterated their bullish stance on FTNT stock, giving a Buy rating today.
Tal Liani has given his Buy rating due to a combination of factors that suggest Fortinet’s current challenges are temporary and that the company is well-positioned for future growth. Despite weaker guidance for the second quarter, Fortinet’s product revenue growth outperformed expectations, indicating strong underlying demand. The cautious outlook from the sales team is seen as a timing issue, with potential delays in customer orders related to the 2026 End of Support cycle.
Furthermore, Fortinet’s growth foundations remain solid, driven by its Unified SASE and SecOps offerings, which have shown significant year-over-year growth. The anticipated upgrades from the End of Support cycle are expected to bolster demand, and the company’s strategic acquisitions are contributing positively to its growth trajectory. Liani believes that once macroeconomic uncertainties, such as tariffs, are resolved, Fortinet’s growth will accelerate, justifying the Buy rating.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $115.00 price target.