Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Fortinet (FTNT) and Skyworks Solutions (SWKS).
Fortinet (FTNT)
In a report released today, Shaul Eyal from Oppenheimer maintained a Buy rating on Fortinet, with a price target of $97. The company’s shares closed yesterday at $91.51, close to its 52-week high of $96.96.
Eyal noted:
“FTNT reported solid 1Q19 results with in-line revenue (up 18% y/y), and better than expected EPS, CFO, and billings (up 19% y/y) metrics. FY19 revenue guidance was notched up from 15% to 16% at the mid-point) and billings guidance saw similar trends (16% vs. the prior 15% at the mid point). Whereas EMEA grew 1Q19 at 23% y/y vs. 15% in 1Q18, the Americas saw some temporary softness (14% y/y vs. 20% in 1Q18) driven partly by hiring targets being slightly below plans. We are not losing sleep here and believe that overall trends remain on strong footings driven by a product refresh as well as Fortinet’s Security Fabric realizing solid traction with customers and partners. Our FY19-FY21 estimates remain largely intact. Outperform/PT of $97.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 17.7% and a 69.5% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and CyberArk Software.
Currently, the analyst consensus on Fortinet is a Moderate Buy with an average price target of $90.80, representing a -0.8% downside. In a report released today, Northland Securities also maintained a Buy rating on the stock with a $100 price target.
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Skyworks Solutions (SWKS)
Susquehanna analyst Christopher Rolland reiterated a Hold rating on Skyworks Solutions today and set a price target of $85. The company’s shares closed yesterday at $90.79.
According to TipRanks.com, Rolland is a 5-star analyst with an average return of 12.1% and a 66.5% success rate. Rolland covers the Consumer Goods sector, focusing on stocks such as Power Integrations, Texas Instruments, and Maxim Integrated.
Currently, the analyst consensus on Skyworks Solutions is a Moderate Buy with an average price target of $92.31, representing a 1.7% upside. In a report released today, Oppenheimer also assigned a Hold rating to the stock.
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