Baird lowered the firm’s price target on Fortinet to $75 from $81 and keeps an Outperform rating on the shares. The firm said they reported a robust quarter, beating revenue, although billings slightly missed, largely impacted by only one $10+ million deal, versus six in the previous quarter.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FTNT:
- Fortinet Earnings Update: Did it Beat Estimate Forecasts?
- Is FTNT a Buy, Before Earnings?
- Fortinet Named a Challenger in the 2024 Gartner® Magic Quadrant™ for Security Service Edge
- Fortinet Releases its 2023 Sustainability Report
- Fortinet Wins Two Google Cloud Technology Partner of the Year Awards for Security