Fortinet, Inc. (NASDAQ:FTNT) is one of the 10 AI Stocks Gaining Attention on Wall Street. On February 2, Scotiabank analyst Patrick Colville downgraded the stock from Sector Outperform to Sector Perform with an $85 price target.
The firm sees Fortinet as a strong company, but believes that the optimism for 2026 appears overstated. It acknowledged that Fortinet is a strong and legendary company with a compelling offering in core secure networking.
However, it is still downgrading the name based on its latest quantitative analysis and recent CISO checks with mid/large-sized enterprises.
“We feel less optimistic about the name in 2026.”
Fortinet, Inc. (NASDAQ:FTNT), a cybersecurity company, provides enterprise-level next-generation firewalls and network security solutions, leveraging artificial intelligence across its cybersecurity products. While we acknowledge the potential of FTNT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
