Analyst Calls Fortinet a Sell as Shares Stay High

A top analyst just slapped a sell rating on Fortinet. The price target sits at $115 while the stock closed at $136.08 yesterday. Investors might wonder why the target is well below the current price.

That analyst boasts a 44.3% average return and a 93.75% win rate. He covers names like Okta, Zscaler and SentinelOne. His track record suggests he often gets it right.

Another firm, Mizuho, also issued a sell on October 29. Meanwhile Citi kept a hold rating on the same stock. The split opinions show the market is unsure.

The latest quarter showed revenue of $2.08 billion and profit of $635.5 million. A year earlier revenue was $1.72 billion and profit $473.9 million. Revenue grew about 21% year over year. Profit jumped roughly 34%.

What does this mean for you? Consider the gap between target and price. Look at the earnings trend. Decide if the risk fits your plan.