Fortinet, Inc. (FTNT) Gets Price Target Boosts, Here’s Why

Fortinet, Inc. (NASDAQ:FTNT) is among the most profitable software stocks to buy now. On February 9, Fatima Boolani, an analyst at Citi, lifted the price target on Fortinet, Inc. (NASDAQ:FTNT) to $90 from $85 and maintained a Neutral rating, according to TheFly. In line with the consensus estimate, the firm’s guidance implies a 6.81% upside.

On the same day, BMO Capital also raised the price target on Fortinet, Inc. (NASDAQ:FTNT) to $95, up from $90, and reiterated a Market Perform rating. BMO highlighted the company’s fourth-quarter earnings, noting results that outperformed expectations across key metrics. What’s even more interesting is that management’s FY26 billings growth projection of 13% YoY exceeded the street forecast of 11%, BMO noted.

The firm’s cautious stance is driven by disappointing service growth, with higher service revenue growth required to support a bullish outlook. Looking ahead, the firm expects potential upside to topline estimates, while anticipating Fortinet, Inc. (NASDAQ:FTNT) to gain even more traction in the Secure Access Service Edge (SASE) space.

Fortinet, Inc. (NASDAQ:FTNT) is a California-based provider of cybersecurity and various networking and security solutions. Founded in 2000, the company offers its products to enterprises, communication service operators, and government institutions.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

Disclosure: None.