Wedbush lowered the firm’s price target on Fortinet (FTNT) to $120 from $130 to reflect some choppiness in the field, while keeping an Outperform rating on the shares. The firm notes the company reported its Q1 results, which saw revenue/billings come on par with the Street and EPS coming in ahead of expectations but will be overshadowed by the company not raising FY25 revenue/billings guidance by looking to remain cautious in this uneasy macro.
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Read More on FTNT:
- Fortinet price target lowered to $108 from $113 at Baird
- Fortinet price target lowered to $105 from $115 at UBS
- Fortinet price target lowered to $94 from $111 at Bernstein
- Fortinet’s Uncertain Outlook Amid Strong Q1 Results and Competitive Pressures
- Fortinet’s Financial Outlook: Hold Rating Amidst Growth Uncertainty and Macroeconomic Risks