Fortinet rises after KeyBanc upgrades to 'overweight'

Okta

19/12/2024 12:52

** Shares of cybersecurity firm Fortinet  FTNT.O  rise 2.4%
to $95.63 premarket
    ** KeyBanc Capital Markets upgrades rating on FTNT stock to
"overweight" from "sector weight" on industry wide refresh
opportunity in 2025
    ** There is market opportunity for FTNT in the mid-market
segment, compared with competitive enterprise market - brokerage
    ** FTNT will primarily target smaller customers vs. those
targeted by big competitors such as Palo Alto Networks  PANW.O 
and Zscaler  ZS.O  - brokerage
    ** Brokerage also upgrades digital identity verification
firm Okta  OKTA.O  to "overweight" from "sector weight"
    ** Brokerage says it is more positive on the outlook for
identity security, which focuses on verification of individuals
or devices, and firewall, which helps secure corporate
boundaries by inspecting network traffic
    ** Up to last close, stock up ~60% this year

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))