15 AI News You Must Read Today

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7. Fortinet, Inc. (NASDAQ:FTNT)

Market Capitalization: $74.33 billion

Fortinet, Inc. (NASDAQ:FTNT) provides enterprise-level next-generation firewalls and network security solutions, leveraging artificial intelligence across its cybersecurity products.

On November 13, Baird raised the firm’s price target on Fortinet, Inc. (NASDAQ:FTNT) to $95 from $88 and kept an “Outperform” rating on the shares. The price target raise comes from increased optimism surrounding the company’s major FY25 refresh cycle. 2026 will witness a record number of FortiGate firewalls, which are next-generation firewalls backed by FortiGuard AI-Powered Security Services, reach end-of-support status. Consequently, customers will start the refresh cycle sometime in 2025, boosting the company’s performance. This optimism is crucial to the company given its cautious Q4 billings guidance.

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