15 hours ago 1

Stifel Lowers Fortinet (FTNT) Price Target, Keeps Hold Rating

Fri, Aug 15, 2025, 12:05 PM 2 min read

Fortinet, Inc. (NASDAQ:FTNT) reported second-quarter results that surpassed expectations. Billings grew 15% compared to last year and revenue increased by 14%. Product revenue also went up by 13%. The company’s margins and EPS beat both Steifel’s and the consensus estimates. Fortinet, Inc. (NASDAQ:FTNT) raised its billings guidance for the full year 2025.

Stifel Lowers Fortinet (FTNT) Price Target, Keeps Hold Rating

A high-rise office building, its staff busy at work providing cybersecurity services.

Stifel noted that the company’s management shared that 40%-50% of the fiscal year 2026 end-of-support (EOS) firewall refresh opportunity has already been completed. The executives seemed to downplay this opportunity as well as the EOS refresh cycle in fiscal year 2027.

The firm pointed out that there are concerns about weakness in services, customer losses, and questions about the company’s growth rate being sustainable. These concerns prompted Stifel to stay “on the sidelines” regarding Fortinet, Inc. (NASDAQ:FTNT).

Fortinet, Inc. (NASDAQ:FTNT) is a global cybersecurity company focused on networking and security solutions and services. The company offers a large integrated portfolio of more than 50 enterprise-grade products.

While we acknowledge the potential of FTNT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.