BMO Capital Maintains Market Perform Rating for Fortinet: Here's What You Need To Know

BMO Capital has decided to maintain its Market Perform rating of Fortinet FTNT and raise its price target from $67.00 to $75.00.

Shares of Fortinet are trading down 1.46% over the last 24 hours, at $65.01 per share.

A move to $75.00 would account for a 15.37% increase from the current share price.

About Fortinet

Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 500,000 customers across the world.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.