Fortinet (FTNT) Downgraded as Analysts Reassess 2026 Growth Outlook

Fortinet, Inc. (NASDAQ:FTNT) is one of the 10 AI Stocks Gaining Attention on Wall StreetOn February 2, Scotiabank analyst Patrick Colville downgraded the stock from Sector Outperform to Sector Perform with an $85 price target.

The firm sees Fortinet as a strong company, but believes that the optimism for 2026 appears overstated. It acknowledged that Fortinet is a strong and legendary company with a compelling offering in core secure networking.

Fortinet (FTNT) Downgraded as Analysts Reassess 2026 Growth Outlook

However, it is still downgrading the name based on its latest quantitative analysis and recent CISO checks with mid/large-sized enterprises.

“We feel less optimistic about the name in 2026.”

Fortinet, Inc. (NASDAQ:FTNT), a cybersecurity company, provides enterprise-level next-generation firewalls and network security solutions, leveraging artificial intelligence across its cybersecurity products.

While we acknowledge the risk and potential of FTNT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FTNT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.