NEW YORK (TheStreet) -- Shares of Fortinet (FTNT) - Get Fortinet, Inc. (FTNT) Report were gaining in early-morning trading on Tuesday as Pacific Crest Securities raised its rating on the stock to "overweight" from "sector weight."

The firm has a $47 price target on shares of the Sunnyvale, CA-based provider of cyber-security solutions.

"Renewed management focus around driving enhanced profitability, coupled with success in adjacent solutions and management sticking to its mid-market approach, combine to drive outperformance in shares, in our view," Pacific Crest wrote in a note.

The firm expects the heightened focus on operating efficiency to be well-received by a market prone to reward profitability. Pacific Crest also sees the potential for further margin upside through 2017.

Additionally, the firm believes Fortinet's "breadth of platform" continues to resonate well with customers.

(Fortinetis held in the Growth Seeker portfolio. See all of the holdings with a free trial).

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Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins.

But the team also finds weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: FTNT

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