NEW YORK (TheStreet) -- Fortinet (FTNT) has had its price target increased to $26 from $25, Jefferies said Thursday. The firm said its revision was driven by growth reacceleration with outperformance in service provider sales and traction with enterprise large deal flow. Jefferies reiterated a "buy" rating.
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Separately, TheStreet Ratings team rates FORTINET INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FORTINET INC (FTNT) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. 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. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."
- You can view the full analysis from the report here: FTNT Ratings Report