There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Fortinet (FTNT) and Five9 (FIVN) with bullish sentiments.
Fortinet (FTNT)
BTIG analyst Gray Powell reiterated a Buy rating on Fortinet on April 29 and set a price target of $240.00. The company’s shares closed last Friday at $204.23, close to its 52-week high of $209.39.
According to TipRanks.com, Powell is a 4-star analyst with an average return of 15.6% and a 60.2% success rate. Powell covers the Technology sector, focusing on stocks such as Palo Alto Networks, Tenable Holdings, and Coinbase Global.
Fortinet has an analyst consensus of Moderate Buy, with a price target consensus of $209.20, which is a 5.6% upside from current levels. In a report issued on April 21, Monness also maintained a Buy rating on the stock with a $225.00 price target.
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Five9 (FIVN)
In a report issued on April 29, Matthew VanVliet from BTIG reiterated a Buy rating on Five9, with a price target of $205.00. The company’s shares closed last Friday at $187.97, close to its 52-week high of $201.75.
According to TipRanks.com, VanVliet is a 4-star analyst with an average return of 25.7% and a 65.1% success rate. VanVliet covers the Technology sector, focusing on stocks such as Tyler Technologies, Bill.com Holdings, and Sprout Social.
Currently, the analyst consensus on Five9 is a Moderate Buy with an average price target of $206.05, a 13.8% upside from current levels. In a report issued on April 19, Wells Fargo also maintained a Buy rating on the stock with a $220.00 price target.
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