What Analysts Are Saying About Fortinet Stock
Portfolio Pulse from Benzinga Insights
In the past three months, 21 analysts have provided ratings for Fortinet (NASDAQ:FTNT), with a mix of bullish, somewhat bullish, and indifferent sentiments. The average 12-month price target has increased to $72.57 from $70.75. Analysts have recently adjusted their ratings and price targets, reflecting their updated perspectives on Fortinet's market performance. Fortinet has shown positive revenue growth and strong profitability metrics, but its high debt-to-equity ratio raises concerns about financial leverage.
August 08, 2024 | 3:00 pm
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Fortinet has received mixed ratings from analysts over the past three months, with an average price target increase to $72.57. The company shows strong profitability but has a high debt-to-equity ratio.
The increase in the average price target and the majority of analysts raising their ratings suggest a positive short-term impact on Fortinet's stock price. However, the high debt-to-equity ratio may temper some of the optimism.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100