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FTNT

Fortinet

$104.16

0.67 (0.65%)

09:05
12/12/19
12/12
09:05
12/12/19
09:05

Fortinet acquires SOAR provider CyberSponse, terms not disclosed

Fortinet announced that it has completed the acquisition of CyberSponse, a Security Orchestration, Automation and Response platform provider based in Arlington, Virginia. CyberSponse, already a Fortinet Security Fabric partner, will further extend the automation and incident response capabilities of FortiAnalyzer, FortiSIEM and FortiGate, for example, and further simplify security operations. Terms of the deal were not disclosed.

  • 12

    Dec

  • 08

    Jan

FTNT Fortinet
$104.16

0.67 (0.65%)

11/19/19
MSCO
11/19/19
NO CHANGE
Target $96
MSCO
Equal Weight
Fortinet price target raised to $96 from $82 at Morgan Stanley
Morgan Stanley analyst Melissa Franchi said Fortinet hosted a "bullish" analyst day where they laid out the case for being positioned for sustainable mid-teens growth. While management's reaffirmation of 15% or greater billings growth through 2023 is ahead of consensus and should be a relief, she believes the magnitude of margin leverage seen in FY19 is unlikely to repeat. Franchi keeps an Equal Weight rating on Fortinet shares, but raised her price target on the stock following the analyst event to $96 from $82.
11/19/19
RBCM
11/19/19
NO CHANGE
Target $109
RBCM
Sector Perform
Fortinet price target raised to $109 from $100 at RBC Capital
RBC Capital analyst Dan Bergstrom raised his price target on Fortnet to $109 and kept his Sector Perform rating after attending the company's analyst day, saying the presentation highlighted its products, position and opportunity. The analyst notes that he is turning "incrementally more positive" on Fortinet prospects given the additional color around SD-WAN and the rapid growth of its Fabric platform but maintains a neutral stance given the financial risk of a shift to larger deals, the competitive nature of the firewall/security market, the risks of pricing pressure, and the "mixed signals" in the macro backdrop.
11/20/19
BMOC
11/20/19
NO CHANGE
Target $115
BMOC
Market Perform
Fortinet price target raised to $115 from $104 at BMO Capital
BMO Capital analyst Keith Bachman raised his price target on Fortinet to $115 after its Analyst Day medium term guidance of 15% revenue and billings growth over a 3-year period. The analyst notes that the management's plan is "credible" thanks to the company's y SD WAN / competitive advantages in firewall and fabric, adding that the "relatively flat" operating outlook is also likely to be "conservative". Bachman is keeping his Market Perform rating in spite of his higher conviction of durable growth at Fortinet, citing valuation.
12/05/19
CLVD
12/05/19
NO CHANGE
CLVD
Buy
Fortinet feedback suggests upside in Q4 and FY20, says Cleveland Research
Cleveland Research analyst Ben Bollin says his firm's work on Fortinet continues to suggest upside to guidance and consensus estimates in Q4 and fiscal 2020. Discussions with partners suggest potential for growth to approach 20% in Q4, with expectations of 15%-plus growth in 2020, Bollin tells investors in a research note. His work suggests Fortinet continues to show up in more large enterprise opportunities and grow net new customers with sales outside of its security core. The analyst keeps a Buy rating on the shares with a $122 fair value estimate.

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IMVT

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TBLT

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MYO

Myomo

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  • 21

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SRRA

Sierra Oncology

$0.40

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SRNE

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AKER

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ECA

Encana

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  • 29

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MBRX

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APLS

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