15 AI News That Should Not Be Ignored

10. Fortinet, Inc. (NASDAQ:FTNT)

Market Capitalization: $74.33 billion

Fortinet, Inc. (NASDAQ:FTNT) provides cybersecurity solutions and services worldwide. This leading cybersecurity company leverages artificial intelligence across its cybersecurity products.

On November 11, HSBC analyst Stephen Bersey upgraded Fortinet, Inc. (NASDAQ:FTNT) to “Buy” from Hold and raised his price target to $111 from $83. The rating upgrade comes after the company’s better-than-expected Q3 earnings result and long-term outlook. The company reported a revenue of $1.51 billion for the third quarter, beating the analyst forecast of $1.48 billion and up 13% from the previous year. The company’s growth in the quarter was fueled by factors such as growth in Unified SASE (Secure Access Service Edge) billings and Security Operations billings (driven by demand from large enterprises), and a return to positive growth in Secure Networking. The company’s innovative use of FortiOS and FortiASIC technology also proved to be beneficial, while AI-driven security operations were its fastest-growing pillar, outpacing the market with a 32% billings growth.