Fortinet (FTNT) experienced an eventful Q2, per various reports from financial firms. Morgan Stanley, Wedbush, UBS Group, Cantor Fitzgerald, Susquehanna, Royal Bank of Canada, Robert W. Baird, Scotiabank, Deutsche Bank, and others either reiterated their rating of the cybersecurity company's stock or raised the price target, which ranged from $64.00 to $80.00. The firm's Q2 earnings beat expectations, with revenue also surpassing the forecast. This contributed to a surge in Fortinet's share price, leading to numerous investors piling into the stock. Notably, Simplicity Wealth LLC and CX Institutional increased their stakes in Fortinet. Despite increased investor interest, some analysts warned of potential market dips. Meanwhile, Fortinet completed the acquisition of
Lacework. Hsbc Global Res upgraded Fortinet's rating twice within the reporting period. The company issued solid earnings results and announced record margins and strong service revenue growth. In less positive news, Rosenblatt cut its price target for FTNT, and the stock experienced a few falls. Nevertheless, Fortinet increased its annual revenue forecast, signaling a positive outlook for future growth.
Fortinet FTNT News Analytics from Tue, 16 Apr 2024 07:00:00 GMT to Sun, 11 Aug 2024 15:35:39 GMT -
Rating 8
- Innovation 6
- Information 9
- Rumor -6
