Analyse Fortinet stock

Adjusted price target instead of confirmation: The consensus price target of 100.38 EUR is around 26.5% below the current price of 136.56 EUR and therefore just outside the specified plausibility range of +/-25%.

Quantitative: Fortinet is trading at a high level with P/E ratio 52.99, which is not implausible for a security growth stock, but only if earnings and free cash flow growth continues to be solid. The strong operational quality speaks against the very low target: high margins, robust cash flow generation, low balance sheet risks and a structurally attractive cybersecurity market. For a target of EUR 100.38, a clear multiple compressio...