Fortinet downgraded to Perform from Outperform at Oppenheimer

Oppenheimer analyst Ittai Kidron downgraded Fortinet to Perform from Outperform without a price target following the “weak” Q3 report. Fortinet must now face the reality of constrained demand in its core firewall market, which will pressure its growth moving forward, the analyst tells investors in a research note. The firm says the company is facing highly competitive markets that it was late to invest in. It sees a “complicated path forward” for Fortinet.