Cowen Downgrades Fortinet (FTNT) to Underperform

Cowen downgraded Fortinet (NASDAQ: FTNT) from to Underperform with a price target of $37.00, saying the future could be more challenging.

Analyst Gregg Moskowitz commented, "We are lowering our FTNT rating to Underperform from Market Perform. The security market remains strong, and the co.'s recent execution has unquestionably been very good. However, we believe tougher compares, an increasingly competitive environment, and challenges truly penetrating the enterprise could make it difficult for FTNT to meet or exceed investor expectations over the next 12-18 months."

For an analyst ratings summary and ratings history on Fortinet click here. For more ratings news on Fortinet click here.

Shares of Fortinet closed at $41.23 yesterday.

You May Also Be Interested In

• Paychex (PAYX) PT Lowered to $105 at TD Cowen
• Freedom Broker Starts Autoliv, Inc. (ALV) at Buy
• Akamai Technologies (AKAM) PT Raised to $149 at TD Cowen