Fortinet launches new cloud services for identity and storage
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August 7, 2025 5:37 AM EDT
Evercore ISI analyst Amit Daryanani lowered the price target on Fortinet (NASDAQ: FTNT) to $78.00 (from $105.00) while maintaining a In Line rating.
The analyst comments "FTNT delivered in-line Q2 results, making for an uneventful quarter on the surface. While the FY guide was reiterated, a $50mn mix shift from services to product revenue stood out. At first glance, it seemed explainable and easy for the street to look past. However, a closer look suggests this revision reflects softer performance in next-gen software (non-firewall rev) than previously... More
August 7, 2025 5:11 AM EDT
Raymond James analyst Adam Tindle reiterated a Market Perform rating on Fortinet (NASDAQ: FTNT).
The analyst comments "We maintain our Market Perform rating on FTNT following 2Q results where Billings (key growth metric) was above our view of buyside bogeys prior to the quarter (link), but qualitative commentary poured... More
