Fortinet (FTNT) plunges 23% on lowered full-year guidance; Prompts several downgrades
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Oppenheimer Downgrades Fortinet (FTNT) to Perform
November 3, 2023 4:09 AM EDTOppenheimer analyst Ittai Kidron downgraded Fortinet (NASDAQ: FTNT) from Outperform to Perform.
For an analyst ratings summary and ratings history on Fortinet click here. For more ratings news on Fortinet click here.
Shares of Fortinet closed at $57.59 yesterday.
... MoreWilliam Blair Downgrades Fortinet (FTNT) to Market Perform
November 3, 2023 4:09 AM EDTWilliam Blair analyst Jonathan Ho downgraded Fortinet (NASDAQ: FTNT) from Outperform to Market Perform.
For an analyst ratings summary and ratings history on Fortinet click here. For more ratings news on Fortinet click here.
Shares of Fortinet closed at $57.59 yesterday.
... MoreJPMorgan Downgrades Fortinet (FTNT) to Neutral, 'unfavorable risk-reward'
November 3, 2023 3:26 AM EDT(Updated - November 3, 2023 4:01 AM EDT)
JPMorgan analyst Brian Essex downgraded Fortinet (NASDAQ: FTNT) from Overweight to Neutral with a price target of $52.00 (from $67.00).
The analyst comments "Wary of greater risk through this cycle. Fortinet reported billings and revenue under expectations and cut full year billings and revenue guidance for the second quarter in a row. Weakness in the quarter was attributed to sales execution as well... More
Evercore ISI Downgrades Fortinet (FTNT) to In Line, 'Transformation Carries NT Execution Risk'
November 3, 2023 3:24 AM EDT(Updated - November 3, 2023 4:03 AM EDT)
Evercore ISI analyst Amit Daryanani downgraded Fortinet (NASDAQ: FTNT) from Outperform to In Line with a price target of $51.00 (from $78.00).
The analyst comments "We are shifting our rating on FTNT to In Line (vs. Outperform previously) following their Q3 revenue/billings miss and guide down (attributable to slowdown in firewall market and sales/marketing challenges). While we remain confident in the companys management team and ability to execute longer term, we think FTNTs reorganization around the Secure Networking, Security... More
Cantor Fitzgerald Downgrades Fortinet (FTNT) to Neutral
November 3, 2023 1:55 AM EDTCantor Fitzgerald analyst Jonathan Ruykhaver downgraded Fortinet (NASDAQ: FTNT) from Overweight to Neutral with a price target of $50.00 (from $75.00).
For an analyst ratings summary and ratings history on Fortinet click here. For more ratings news on Fortinet click here.
Shares of Fortinet closed at $57.59 yesterday.
... MoreStifel Downgrades Fortinet (FTNT) to Hold
November 3, 2023 12:37 AM EDTStifel analyst Adam C. Borg downgraded Fortinet (NASDAQ: FTNT) from Buy to Hold with a price target of $52.00 (from $69.00).
For an analyst ratings summary and ratings history on Fortinet click here. For more ratings news on Fortinet click here.
Shares of Fortinet closed at $57.59 yesterday.
... More