Fly News Breaks for February 7, 2020
Feb 7, 2020 | 07:53 EDT
Wedbush analyst Daniel Ives raised his price target for Fortinet to $150 from $130 after the company delivered another "masterpiece" quarter, handily beating the Street's Billings estimates and exceeding on almost every metric. Ives tells investors that he believes Fortinet's security fabric offering is increasingly resonating with the global market as it offers a platform approach with increased visibility into the entire attack surface, a reduced number of isolated point products, and provides automation allowing the customer to build and orchestrate end-to-end workflow, and continues to strongly believe that the company is finding particular success on more technical firewall sales.
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