10 AI Stocks Worth Watching Today

8. Fortinet, Inc. (NASDAQ:FTNT)

Number of Hedge Fund Holders: 61

Fortinet, Inc. (NASDAQ:FTNT) is a cybersecurity company that provides enterprise-level next-generation firewalls and network security solutions, leveraging artificial intelligence across its cybersecurity products. On February 24, Robert W. Baird analyst Shrenik Kothari maintained a “Hold” rating on the stock with an associated price target of $115.00.

Kothari discussed the company’s revenue growth, especially in service and security subscriptions, which have demonstrated a considerable year-over-year increase.  However, Fortinet is expanding its data center and cloud hosting capacities which may impact future profitability, he noted.

In addition, the company’s customer base is solid, but revenue contribution from recent acquisitions remains minimal. Fortinet is also seen to rely on a limited number of countries, negatively impacting its growth stability. All of these factors contribute toward a cautious outlook for the stock.