New Sell Rating for Fortinet (FTNT), the Technology Giant
In a report released today, Meta Marshall from Morgan Stanley maintained a Sell rating on Fortinet, with a price target of $70.00.
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According to TipRanks, Marshall is a 4-star analyst with an average return of 3.1% and a 54.31% success rate. Marshall covers the Technology sector, focusing on stocks such as Corning, Ciena, and Cisco Systems.
In addition to Morgan Stanley, Fortinet also received a Sell from J.P. Morgan’s Brian Essex in a report issued today. However, on the same day, TD Cowen reiterated a Buy rating on Fortinet (NASDAQ: FTNT).
Based on Fortinet’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.72 billion and a net profit of $473.9 million. In comparison, last year the company earned a revenue of $1.51 billion and had a net profit of $539.9 million
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- Fortinet price target raised to $73 from $72 at JPMorgan
- Fortinet price target raised to $90 from $80 at Jefferies
- Fortinet price target raised to $90 from $80 at UBS
- Balanced Product Strength vs. Service Slowdown Keeps Fortinet at Hold: Solid Long-Term Story but Limited Near-Term Upside
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