RBC Capital Sticks to Their Hold Rating for Fortinet (FTNT)
In a report released yesterday, Dan Bergstrom from RBC Capital maintained a Hold rating on Fortinet, with a price target of $90.00. The company’s shares closed yesterday at $78.93.
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According to TipRanks, Bergstrom is a 4-star analyst with an average return of 14.6% and a 63.93% success rate. Bergstrom covers the Technology sector, focusing on stocks such as CommVault Systems, Fortinet, and CSG Systems International.
In addition to RBC Capital, Fortinet also received a Hold from BTIG’s Gray Powell 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 December 31, the company reported a quarterly revenue of $1.91 billion and a net profit of $506 million. In comparison, last year the company earned a revenue of $1.66 billion and had a net profit of $526.2 million
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- Fortinet price target raised to $74 from $72 at Mizuho
- 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
