On July 25, 2023, Catharine Trebnick, an analyst at Rosenblatt, reaffirmed her optimistic stance on Fortinet (NASDAQ:FTNT) and revised the price target to $95, up from the previous $80. This update comes after Rosenblatt initiated coverage of Fortinet on May 2, 2023, with a Buy recommendation.
As of May 11, 2023, the average one-year price target for Fortinet stands at $75.38, with various forecasts ranging from a low of $63.63 to a high of $94.50. These projections reflect the market’s expectations for the company’s future performance.
Fortinet is expected to achieve a projected annual revenue of $5,501MM, showcasing a notable increase of 16.43% compared to previous figures. Additionally, the projected annual non-GAAP EPS is estimated to be 1.43.
Overall, Catharine Trebnick’s continued Buy rating on Fortinet and the raised price target indicate her confidence in the company’s potential for growth and success in the market.
