Here's What Truist Financial Thinks About Fortinet, Inc (FTNT)

​Fortinet, Inc. (NASDAQ:FTNT) is one of the Best Cybersecurity Stocks to Buy in 2026. On January 20, Junaid Siddiqui from Truist Financial reiterated a Buy rating on the stock but lowered the price target from $95 to $88. Earlier on January 15, Brian Essex from RBC Capital reiterated a Sell rating on Fortinet, Inc. (NASDAQ:FTNT) with a $75 price target.

​The rating comes as the company gets close to releasing its fiscal Q4 2025 results, scheduled for February 5, 2026. Truist noted that revenue growth remained muted in fiscal Q3 2025, with only a 12.7% year-over-year increase, below expectations. However, looking ahead, the firm expects the company to re-accelerate growth in the second half of 2026, driven by strength in products. Moreover, the firm also highlighted that the impact of China’s ban on software from certain US and Israeli cybersecurity companies remains minimal for Fortinet, Inc. (NASDAQ:FTNT). This is because China accounts for only around 1% of the 19% revenue the company generates from the Asia-Pacific region.

​On the other hand, J.P. Morgan noted the Sell rating is due to heightened risks from surging DDR4 memory costs driven by AI demand. The firm noted that the price increase threatens margins for firewall hardware. J.P. Morgan believes that Fortinet, Inc. (NASDAQ:FTNT) faces greater vulnerability than peers due to the company’s heavy reliance on hardware revenue and limited software mix.

​Fortinet, Inc. (NASDAQ:FTNT) is a provider of cybersecurity solutions to a range of businesses, including government organizations, communication service providers, enterprises, and small to medium-sized businesses. The company’s portfolio includes secure access service edge, network security, application security, enterprise networking, and operational technology.

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. This article is originally published at Insider Monkey.