10 AI Stocks Dominating Wall Street

7. Fortinet, Inc. (NASDAQ:FTNT)

Number of Hedge Fund Holders: 47

Fortinet, Inc. (NASDAQ:FTNT), a cybersecurity company, provides enterprise-level next-generation firewalls and network security solutions, leveraging artificial intelligence across its cybersecurity products. On February 7, BMO Capital analyst Keith Bachman reiterated the “Market Perform” rating on the stock with the associated price target raised to $122 from $100. The analyst told investors in a research note that Fortinet has delivered a strong quarter. Particularly, the company has gained from a significant demand boost due to an end-of-service firewall refresh cycle. It has gained from an impressive number of new customer wins and also delivered strong results in its Unified SASE and SecOps segments. Fortinet has embedded artificial intelligence in both its SASE and SecOps offerings, helping it detect and respond to threats proactively. The company’s product segment has also witnessed prominent growth, with total billings surpassing expectations and robust revenue increases in the SMB sector and EMEA region. There is also a potential for continued success in the absence of escalating US tariffs, further contributing to the rating.