Barclays raised its price target for Fortinet to $155, while Wells Fargo increased its target to $125 despite maintaining a 'Sell' rating. Analysts subsequently reissued a 'Strong Buy' rating as product revenues surged 41% YoY, driven by significant demand from AI data centers. The company's 2026 guidance projects billings between $8.8–$9.1 billion with gross margins reaching up to 81%.
Analysts reissue a 'Strong Buy' for Fortinet following a 41% surge in product revenue driven by AI data center demand and robust 2026 guidance.
Read the full storyWells Fargo analysts raised Fortinet's price target from $70 to $125 but maintained a 'Sell' rating, signaling continued caution regarding the cybersecurity firm's valuation.
Barclays increased its price target for Fortinet by nearly 35%, signaling rising analyst conviction in global cybersecurity equipment and service demand.