"I Don't Really Care About" Fortinet, Inc. (FTNT), Says Jim Cramer

We recently published 10 Latest Stocks on Jim Cramer’s Radar. Fortinet, Inc. (NASDAQ:FTNT) is one of the stocks Jim Cramer recently discussed. Cybersecurity firm Fortinet, Inc. (NASDAQ:FTNT)’s shares have lost 18.8% year-to-date as they have lagged peers in an otherwise robust sector. The shares are in the red because of a massive 23% fall in August that followed the firm’s second-quarter earnings. Fortinet, Inc. (NASDAQ:FTNT’s shares were shunned as the firm failed to convince investors that it could deliver growth in its order pipeline for the rest of the year. Cramer mentioned a Morgan Stanley note that downgraded the stock to Underweight from Equalweight and cut the share price target to $67 from $78:

“And they [Morgan Stanley] also downgraded Fortinet. Now Fortinet missed the numbers so I don’t really care about that. . “

[Shutterstock: 380107090, scyther5]Here is what Cramer said about Fortinet, Inc. (NASDAQ:FTNT) after the firm’s earnings report:

“They missed big. Cybersecurity miss. We tend not to have any. They did a new iteration, no one was really excited about it. You can’t have a not great cybersecurity company, cause they’re all valued on amazingly high revenues.”

While we acknowledge the potential of FTNT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.