{"id":5845,"date":"2023-05-08T15:12:28","date_gmt":"2023-05-08T19:12:28","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/fortinet-pops-as-bofa-moves-to-buy-on-solid-fundamentals-and-execution\/"},"modified":"2023-05-08T15:12:28","modified_gmt":"2023-05-08T19:12:28","slug":"fortinet-pops-as-bofa-moves-to-buy-on-solid-fundamentals-and-execution","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=5845","title":{"rendered":"Fortinet pops as BofA moves to buy on solid fundamentals and execution"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. Fortinet (FTNT) pops as BofA moves to Buy on solid fundamentals and execution<\/span>
\n<\/i>\n<\/div>\n

Fortinet <\/span><\/span> (NASDAQ:) shares trade 1.5% higher in pre-market after Bank of America analysts upgraded the stock to Buy from Neutral with a price target of $75.00 per share.<\/p>\n

The new price target is based on a premium to cybersecurity peers, but the analysts added that \u201cis warranted given the company\u2019s strong fundamentals.\u201d<\/p>\n

\u201cWe expressed concerns over weak orders masked by backlog drawdowns; however, trends are solid and we highlight continued strong execution despite a challenged environment, attesting to the high value Fortinet delivers to its customers,\u201d they said in a note.<\/p>\n

The analysts believe the strong business momentum offsets concerns centered around backlog drawdowns.<\/p>\n

All-in-all, the company is well-positioned to achieve long-term targets.<\/p>\n

\u201cWe believe that in the current uncertain environment, it is more prudent for investors to focus on the basic value proposition of Fortinet and ignore the quarterly noise of backlog trends. Fortinet is a leading network security company, with a unique hardwareled approach that provides substantial price advantage over competition and enables it to bundle more services into its platforms. The company is also expanding into new areas, and the success of this strategy is evident in its financial results,\u201d they concluded.<\/p>\n

Fortinet shares are up 33.7% year-to-date.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Fortinet (FTNT) pops as BofA moves to Buy on solid fundamentals and execution Fortinet (NASDAQ:) shares trade 1.5% higher in pre-market after Bank of America analysts upgraded the stock to Buy from Neutral with a price target of $75.00 per share. The new price target is based on a premium to cybersecurity peers, […]<\/p>\n","protected":false},"author":1,"featured_media":5517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-5845","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nFortinet pops as BofA moves to buy on solid fundamentals and execution | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. Fortinet (FTNT) pops as BofA moves to Buy on solid fundamentals and execution Fortinet (NASDAQ:) shares trade 1.5% higher in pre-market after\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=5845\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fortinet pops as BofA moves to buy on solid fundamentals and execution | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. Fortinet (FTNT) pops as BofA moves to Buy on solid fundamentals and execution Fortinet (NASDAQ:) shares trade 1.5% higher in pre-market after\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=5845\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-08T19:12:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEC0I0PA_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"531\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=5845#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=5845\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Fortinet pops as BofA moves to buy on solid fundamentals and execution\",\"datePublished\":\"2023-05-08T19:12:28+00:00\",\"dateModified\":\"2023-05-08T19:12:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=5845\"},\"wordCount\":230,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=5845#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=5845\",\"url\":\"https:\/\/ifintechworld.com\/?p=5845\",\"name\":\"Fortinet pops as BofA moves to buy on solid fundamentals and execution | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-08T19:12:28+00:00\",\"dateModified\":\"2023-05-08T19:12:28+00:00\",\"description\":\"\u00a9 Reuters. Fortinet (FTNT) pops as BofA moves to Buy on solid fundamentals and execution Fortinet (NASDAQ:) shares trade 1.5% higher in pre-market after\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=5845#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=5845\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=5845#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fortinet pops as BofA moves to buy on solid fundamentals and execution\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fortinet pops as BofA moves to buy on solid fundamentals and execution | iFintechWorld","description":"\u00a9 Reuters. Fortinet (FTNT) pops as BofA moves to Buy on solid fundamentals and execution Fortinet (NASDAQ:) shares trade 1.5% higher in pre-market after","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=5845","og_locale":"en_US","og_type":"article","og_title":"Fortinet pops as BofA moves to buy on solid fundamentals and execution | iFintechWorld","og_description":"\u00a9 Reuters. Fortinet (FTNT) pops as BofA moves to Buy on solid fundamentals and execution Fortinet (NASDAQ:) shares trade 1.5% higher in pre-market after","og_url":"https:\/\/ifintechworld.com\/?p=5845","og_site_name":"iFintechWorld","article_published_time":"2023-05-08T19:12:28+00:00","og_image":[{"width":800,"height":531,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEC0I0PA_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=5845#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=5845"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Fortinet pops as BofA moves to buy on solid fundamentals and execution","datePublished":"2023-05-08T19:12:28+00:00","dateModified":"2023-05-08T19:12:28+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=5845"},"wordCount":230,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=5845#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=5845","url":"https:\/\/ifintechworld.com\/?p=5845","name":"Fortinet pops as BofA moves to buy on solid fundamentals and execution | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-08T19:12:28+00:00","dateModified":"2023-05-08T19:12:28+00:00","description":"\u00a9 Reuters. Fortinet (FTNT) pops as BofA moves to Buy on solid fundamentals and execution Fortinet (NASDAQ:) shares trade 1.5% higher in pre-market after","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=5845#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=5845"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=5845#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Fortinet pops as BofA moves to buy on solid fundamentals and execution"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/5845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5845"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/5845\/revisions"}],"predecessor-version":[{"id":5846,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/5845\/revisions\/5846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/5517"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}