Fortinet, Inc. (NASDAQ:FTNT) is downgraded by Morgan Stanley analyst Meta Marshall to Underweight with a price target of $67.00. Consensus estimates for FY26/27 may be affected due to potential decrease in firewall sales, making the stock a “relative underperformer.”

Despite FTNT’s success in attaching products to its installed base, a smaller-than-expected firewall refresh could lead to downward revisions in future estimates, posing a challenge for the stock. The company is down 17% YTD with a negative near-term risk-reward outlook.

Fortinet, Inc. (NASDAQ:FTNT) provides enterprise-level next-generation firewalls and network security solutions with AI integration. While FTNT shows investment potential, some AI stocks offer greater upside and less downside risk. For undervalued AI stock options, consider exploring our free report on the best short-term AI stock.

Read more at Yahoo Finance: Fortinet (FTNT) Downgraded as Firewall Refresh Falls Short of Expectations