Intel stock extends gains after report of possible U.S. government stake
Investing.com - Cantor Fitzgerald raised its price target on Fortinet (NASDAQ:FTNT) to $110.00 from $100.00 on Wednesday, while maintaining a Neutral rating on the cybersecurity company’s stock. The company has demonstrated strong financial performance, with impressive gross profit margins of 81.34% and a remarkable 76.41% stock return over the past year. InvestingPro analysis shows the company maintains a GREAT financial health score.
The firm’s second-quarter 2025 checks on Fortinet indicate improved trends quarter-over-quarter, with an uptick in close rates and channel incentives driving refresh strength.
Cantor Fitzgerald expects continued cautious commentary overall from the company, but anticipates a less-conservative guidance driven by another product beat.
The research firm remains focused on evidence of success with SASE (Secure Access Service Edge) and SecOps as long-term drivers of Fortinet’s business.
Despite the price target increase, Cantor Fitzgerald maintained its Neutral rating on Fortinet stock, reflecting a balanced outlook on the company’s near-term prospects.
In other recent news, Fortinet has announced significant enhancements to its cybersecurity offerings, including the launch of the FortiMail Workspace Security suite and upgrades to its FortiDLP data loss prevention solution. These advancements aim to provide comprehensive protection against AI-enabled cybercrime. Meanwhile, Fortinet’s first-quarter financial performance for 2025 has been a focal point for analysts. Stifel analysts adjusted their outlook by lowering the price target to $95 while maintaining a Hold rating, noting robust performance but also highlighting concerns such as higher-than-expected customer churn and a decline in services revenue.
Cantor Fitzgerald confirmed a neutral stance with a $100 price target, citing mixed results that included strong product sales but slower subscription revenue growth. Truist Securities maintained a Buy rating with a $125 target, pointing out Fortinet’s solid performance and growth in Secure Access Service Edge (SASE) and Security Operations (SecOps). KeyBanc Capital Markets also maintained an Overweight rating, with a $115 target, despite acknowledging some concerns about Fortinet’s go-to-market team turnover. These developments reflect Fortinet’s ongoing efforts to adapt to the evolving cybersecurity landscape and its strategic focus on key growth areas.
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