Fortinet (FTNT) Gets PT Hike-But Can It Deliver Beyond Q2?

Fortinet, Inc. (NASDAQ:FTNT) is one of the AI Stocks in the Spotlight Today. On July 28, Wells Fargo analyst Andrew Nowinski raised the firm’s price target on the stock to $110 from $95 and kept an “Equal Weight” rating on the shares. The rating affirmation comes ahead of the company’s quarterly results.

According to checks conducted by the firm, Fortinet has had modest upside to product revenue and billings. Regardless, the firm is cautious on the overall FY25 outlook as there is a chance that subscription services growth may decelerate.

Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $110 implies a 5% upside; however, the Street-high target of $135 implies an upside of 28.7%.

Fortinet, Inc. (NASDAQ:FTNT), a cybersecurity company, provides enterprise-level next-generation firewalls and network security solutions, leveraging artificial intelligence across its cybersecurity products.

While we acknowledge the potential of FTNT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.