Fortinet, Inc.

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Analysts’ Opinions Are Mixed on These Technology Stocks: TD SYNNEX Corporation (SNX), Oracle (ORCL) and Fortinet (FTNT)

💰 RBC Capital analyst David Paige reiterated a Buy rating on TD SYNNEX Corporation (SNX) with a $180.00 price target.

📈 The stock closed at $155.55, suggesting significant upside potential based on the analyst's view.

📊 Analyst consensus for SNX is Strong Buy with an average price target of $178.57 from TipRanks.com data.

⚖️ RBC Capital analyst Rishi Jaluria maintained a Hold rating on Oracle (ORCL) with a price target of $160.00.

📉 Oracle shares closed at $149.40, while the overall street consensus remains Strong Buy with a $259.71 average target.

👨‍💼 Analyst Jaluria has an average return of -6.0% and covers other tech sector stocks like Zoom Video Communications.

🛡️ Piper Sandler analyst Rob Owens maintained a Hold rating on Fortinet (FTNT) with a $90.00 price target.

📉 FTNT shares closed at $84.20, aligning with the street consensus of Hold and an average target of $87.70.

⭐️ Analyst Owens is rated as a 5-star professional by TipRanks.com with a 58.4% success rate.

🔄 BTIG also maintained a Hold rating on Fortinet in a report released yesterday.

🌐 The Technology sector received significant coverage today due to the mixed analyst opinions on these three major firms.

📅 This content was published by Tipranks on March 12, covering analyst actions from recent reports.

⚠️ The article includes disclosures that syndicated content may be compensated for placement on the site.

📱 TD SYNNEX is involved in a free stock picking contest with Globe and Mail registration closing March 28.

🎯 Analyst consensus ratings indicate divergence between individual recommendations and general street sentiment for Oracle and Fortinet.

Bullish Signals
  • RBC Capital analyst David Paige reiterated a Buy rating on Fortinet (FTNT) with a price target of $90.00, representing upside potential from the recent closing price of $84.20.
  • Analyst Rob Owens from Piper Sandler maintained a Hold rating on Fortinet with a 5-star ranking, an average return of 16.1%, and a 58.4% success rate, indicating strong performance relative to peers.
  • The company's shares traded at $84.20 last Tuesday, showing resilience against broader market concerns about inflation and surging crude prices mentioned in Thursday's market news.
  • Fortinet benefits from analyst coverage focusing on key cybersecurity competitors like CrowdStrike Holdings, Palo Alto Networks, and Tenable Holdings, highlighting its relevant market position.
Risk Factors
  • Analyst consensus for Fortinet (FTNT) is Hold with a $87.70 average price target representing only 4.1% upside from current levels of $84.20.
  • BTIG maintained a Hold rating on Fortinet in a report released yesterday, indicating cautious sentiment.
  • RBC Capital analyst Rishi Jaluria has an average return of -6.0% when recommending Oracle (ORCL), and maintains a Hold rating with a price target of $160.00 below the company's recent trading levels.
Full Analysis
Analyst opinions remain divided on major technology stocks, with coverage focused on TD SYNNEX Corporation (SNX), Oracle (ORCL), and Fortinet (FTNT). For TD SYNNEX, RBC Capital analyst David Paige reiterated his Buy rating yesterday and established a price target of $180.00, compared to the stock's closing price of $155.55 last Tuesday. Paige has an average return of 19.5% on recommendations for the company and is ranked 3278th out of 12,124 analysts according to TipRanks.com data. Overall market sentiment suggests a Strong Buy consensus for TD SYNNEX with an average price target of $178.57. Regarding Oracle, RBC Capital analyst Rishi Jaluria maintained a Hold rating yesterday and set a price target of $160.00, while the shares closed at $149.40 last Tuesday. Jaluria currently holds 0 stars out of a possible five on TipRanks.com, with an average return of -6.0% and a 48.6% success rate covering the Technology sector. Despite the Hold from RBC Capital and another report from Monness issued on March 9 maintaining a Hold rating, the general analyst consensus on Oracle remains Strong Buy with an average price target of $259.71, representing a 69.1% upside from current levels. Fortinet received mixed signals as well, with Piper Sandler analyst Rob Owens issuing a Hold rating today and a price target of $90.00 against last Tuesday's closing price of $84.20. Owens is a five-star analyst on TipRanks.com with an average return of 16.1% and a 58.4% success rate, focusing on technology companies like CrowdStrike Holdings and Palo Alto Networks. Broad market sentiment suggests a Hold consensus for Fortinet with an average price target of $87.70, which translates to only a 4.1% upside from current trading levels, a view reinforced by a recent report from BTIG that also maintained a Hold rating on the stock.