Stifel analyst Adam Borg raised the firm’s price target on Fortinet to $72 from $64 and keeps a Buy rating on the shares following the company’s "better-than-feared" report and FY23 guidance. The "quarter was not without warts," but "this was an overall solid set of results," said the firm, which continues to believe Fortinet remains well-positioned to be a net-share gainer.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on FTNT:
- FTNT Earnings Push Cyber Stocks Higher
- Fortinet Helps Launch The Cybercrime Atlas Initiative, Enabling Businesses, Law Enforcement Agencies, and Threat Intelligence Researchers to Disrupt Cybercrime at a Global Scale
- Fortinet price target raised to $70 from $65 at Jefferies
- Fortinet price target raised to $70 from $64 at Wedbush
- Fortinet price target raised to $72 from $62 at Wells Fargo