AI will Act as Tailwind for the Company, According to Fortinet (FTNT)’s Management

Fortinet, Inc. (NASDAQ:FTNT) earns a place on our 13 stocks with consistent growth to buy right now.

Several analysts revisited Fortinet, Inc. (NASDAQ:FTNT) after the company’s management held its Accelerate conference in Las Vegas from March 9 to March 12.

At the conference, management cited its integrated platform strategy, discussing the advantages of its single OS architecture, ASIC-driven performance, and growing portfolio. Furthermore, the company emphasized accelerating growth in SD-WAN and SASE. Importantly, management believes AI will act as a tailwind for the company, as it is expected to boost traffic, expand the threat surface, and drive demand for both infrastructure security and AI-enabled operations. Several analysts retained their “Hold” rating on Fortinet, Inc. (NASDAQ:FTNT) following the conference.

While we await recent official analyst comments, one of the earlier analyst comments turned out to be quite bearish.

Assigning an “Underweight” rating to the stock with a $64 price target (March 3), Wells Fargo analysts believe the company’s hardware-centricity could backfire once demand for firewall hardware upgrades settles. Analysts at the firm say the execution risk surrounding Fortinet, Inc. (NASDAQ:FTNT)’s heavy dependence on hardware-centric markets is not fully priced into the shares.

Fortinet, Inc. (NASDAQ:FTNT) offers corporations, service providers, governments, and small-to-medium enterprises all over the world network security, secure access service edge, security operations, enterprise networking, and application security, which are just a few of the cybersecurity solutions.

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