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FTNT

Fortinet

$70.50

-2.1 (-2.89%)

07:22
01/22/19
01/22
07:22
01/22/19
07:22

Fortinet downgraded to Market Perform at BMO Capital on valuation

As reported earlier, BMO Capital analyst Keith Bachman downgraded Fortinet to Market Perform and lowered his price target to $78 from $90. The analyst notes that he is not bearish on the stock, expecting the firewall market to remain healthy for several years given the changing throughput requirements, but sees the rating change as reflective of its more balanced risk-reward. Based on Fortinet's enterprise value to free cash flow multiple, Bachman contends that its valuation "reflects its revenue growth and FCF generating capabilities."

  • 24

    Jan

  • 06

    Feb

  • 25

    Feb

FTNT Fortinet
$70.50

-2.1 (-2.89%)

01/22/19
BMOC
01/22/19
DOWNGRADE
BMOC
Market Perform
Fortinet downgraded to Market Perform from Outperform at BMO Capital
01/18/19
OTRG
01/18/19
DOWNGRADE
OTRG
Mixed
Fortinet downgraded to Mixed from Positive at OTR Global
01/16/19
STFL
01/16/19
NO CHANGE
STFL
Checks show firewall spending remains 'robust,' says Stifel
Stifel analyst Gur Talpaz said his latest quarterly survey of 30 North American security-centric resellers left him "cautiously encouraged" about the overall security spending environment, particularly within the firewall space. Despite recent fears about an imminent slowdown in firewall spending, his checks point to a "robust" deal pipeline through 2019, particularly for Palo Alto Networks (PANW), Talpaz tells investors. Outside of Palo Alto, Talpaz also said he is "more optimistic" on Check Point (CHKP) than he has been "in some time." While he also noted that the was "generally pleased" that the number of resellers pointing to a decline in their Proofpoint (PFPT) business improve to the best level seen in 2018, Talpaz continues to see "work to be done." Others in the cybersecurity space include Rapid7 (RPD), FireEye (FEYE), Fortinet (FTNT), Symantec (SYMC) and CyberArk (CYBR).
01/07/19
OPCO
01/07/19
NO CHANGE
Target $88
OPCO
Outperform
Fortinet price target lowered to $88 from $97 at Oppenheimer
Oppenheimer analyst Shaul Eyal lowered his price target for Fortinet to $88 from $97 ahead of Q4 results to reflect market's multiple contraction. The analyst says his checks with 21 VARs across the U.S. and Europe indicate momentum remains intact driving a solid finish to Q4. Fortinet's continued momentum is supported by the ongoing refresh cycle coupled with strength from its Security-First approach to SD-WAN and FortiCASB solution for the Cloud, he contends. The analyst is also expecting solid performance from both the Services segment as well as the Product segment, with the latter being driven by the high-end E-Series appliance traction.

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HYMTF

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AYI

Acuity Brands

$123.00

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HYAC

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SAGE

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NVDA

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CURLF

Curaleaf Holdings

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PETQ

PetIQ

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T

AT&T

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SGSOY

SGS SA

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CLX

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BA

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