Fortinet Likely to Report Inline Q1 Results, Oppenheimer Says

MT Newswires Live04-14

Fortinet (FTNT) is likely to report inline Q1 results due to client pull-forward ahead of March price hikes, Oppenheimer said in a Tuesday note.

According to the analysts, they are confident in the company's full-year product growth guidance as pricing tailwinds take effect, supporting growth beyond Q1.

Oppenheimer said its subscription revenue growth guidance also improved due to momentum in sovereign SASE and AI-based FortiOS 8.0.

However, the brokerage remains neutral due to rising SASE competition and the relative immaturity of the company's AI security strategy, according to the note.

The brokerage said it reiterated its perform rating on the stock.

Price: 78.36, Change: -0.38, Percent Change: -0.48

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