Analysts Offer Insights on Technology Companies: Fortinet (FTNT) and Cloudflare (NET)


There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Fortinet (FTNT) and Cloudflare (NET) with bullish sentiments.

Fortinet (FTNT)

Oppenheimer analyst Ittai Kidron maintained a Buy rating on Fortinet today and set a price target of $190.00. The company’s shares closed last Wednesday at $161.32.

According to TipRanks.com, Kidron is a top 25 analyst with an average return of 45.9% and a 80.1% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, CrowdStrike Holdings, and Slack Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fortinet with a $164.56 average price target, implying a 2.9% upside from current levels. In a report issued on February 5, Wedbush also maintained a Buy rating on the stock with a $185.00 price target.

See today’s analyst top recommended stocks >>

Cloudflare (NET)

In a report released today, Timothy Horan from Oppenheimer maintained a Buy rating on Cloudflare, with a price target of $77.00. The company’s shares closed last Wednesday at $90.91, close to its 52-week high of $94.82.

According to TipRanks.com, Horan is a 5-star analyst with an average return of 22.1% and a 70.3% success rate. Horan covers the Technology sector, focusing on stocks such as Rackspace Technology, Digital Turbine, and Ondas Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cloudflare with a $84.89 average price target, a -10.4% downside from current levels. In a report issued on February 1, Jefferies also maintained a Buy rating on the stock with a $95.00 price target.

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