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Stock Market & Financial Investment News

News Breaks
July 24, 2014
07:22 EDTFTNTFortinet price target raised to $29 from $26 at Pacific Crest
Pacific Crest raised its price target on Fortinet as the firm thinks the company reported impressive Q2 results. The firm believes that the company is gaining market share and seeing strong momentum. It keeps an Outperform rating on the shares.
News For FTNT From The Last 14 Days
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March 3, 2015
13:27 EDTFTNTFortinet sees opportunity for growth in Enterprise in 2015
Comments made at Morgan Stanley investor conference.
07:27 EDTFTNTMorgan Stanley to hold a conference
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February 24, 2015
10:28 EDTFTNTAnalyst sees 'massive' IT security upgrade cycle still in early innings
A number of trends are spurring businesses and the government to spend aggressively on cyber security offerings, benefiting companies in the IT security sector, wrote research firm FBR Capital in a note to investors today. In conjunction, the firm raised its price target on a number of stocks in the sector. WHAT'S NEW: After conducting checks, FBR Capital analyst Daniel Ives believes that spending on advanced cyber security products has increased this quarter. The ongoing series of well-publicized cyber attacks on large companies is causing businesses to become more concerned about protecting themselves from this threat, according to Ive, who believes that advanced IT security products have "massive," once in a multi-decade growth potential. Data points indicate that enterprises are looking to buy more advanced firewall/cloud security solutions, while the sizes of purchases by customers in the space have increased. Meanwhile, given the high priority that the Obama administration has placed on cyber security, the federal government's spending on IT security is likely to rise in the coming quarters and years, Ives wrote. Forecasting a 20% increase in overall cyber security spending this year, the analyst believes that the following companies should benefit disproportionately from the positive trends, since they have "the right products at the right time:" Palo Alto (PANW), FireEye (FEYE), Proofpoint (PFPT), Check Point (CHKP), and Fortinet (FTNT). The analyst raised his price target on Fortinet to $39 from $36, on Palo Alto to $160 from $121, on Proofpoint to $67 from $60, and on Check Point to $93 from $85. He kept Outperform ratings on all the stocks named. WHAT'S NOTABLE: In its own note to investors, RBC Capital said it expects Palo Alto to report stronger than expected Q2 results, driven by "impressive" revenue and margin improvements. The firm raised its price target on the shares to $150 from $145 and kept an Outperform rating on the stock. PRICE ACTION:In early trading, Palo Alto added 0.2% to $138.41, FireEye advanced 1.2% to $43.87, Proofpoint lost slipped fractionally to $56.55, Check Point rose 0.5% at $82.77, and Fortinet gained 1.3% to $33.76.
09:16 EDTFTNTFortinet price target raised to $43 from $37 at BofA/Merrill
BofA/Merrill recommends focusing on Fortinet given 2015 revenue growth acceleration and margin improvement. The firm said Fortinet trades significantly below the peer group but is exhibiting accelerating billings and revenue growth and strong demand for new products. The firm reiterates its Buy rating and raised its price target to $43 and views downside as limited.
08:32 EDTFTNTFBR checks show strong cybersecurity deal momentum
FBR Capital raised its price targets in the next-generation cybersecurity space after its channel checks showed strong deal momentum so far in the March quarter. The firm believes the "massive upgrade cycle" for next-generation cybersecurity remains in the early days. It raised its price target for Fortinet (FTNT) to $39 from $36, for Palo Alto (PANW) to $160 from $121, for FireEye (FEYE) to $53 from $45, for Proofpoint (PFPT) to $67 from $60 and for Check Point (CHKP) to $93 from $85.
February 23, 2015
10:15 EDTFTNTCyberArk sinks after JPMorgan analyst cuts rating to sell
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