Robert W. Baird Maintains Hold Rating on Fortinet (FTNT) Stock
Key takeaways
- Baird Maintains Hold Rating on Fortinet (FTNT) Stock Bob Karr Sun, May 17, 2026 at 11:39 PM GMT+7 1 min read FTNT Fortinet, Inc.
- Notably, a significant portion of future revenue remains already contracted, which bolsters the durability of Fortinet, Inc.
- The analyst highlighted a high concentration of hardware manufacturing in Taiwan.
Robert W. Baird Maintains Hold Rating on Fortinet (FTNT) Stock Bob Karr Sun, May 17, 2026 at 11:39 PM GMT+7 1 min read FTNT Fortinet, Inc. (NASDAQ:FTNT) is one of the Best Fundamentally Strong Stocks to Buy Now. On May 11, Shrenik Kothari from Robert W. Baird maintained a “Hold” rating on the company’s stock with a price objective of $115.00. The rating is influenced by several factors that demonstrate strong fundamentals and emerging risks for Fortinet. The analyst noted that remaining performance obligations and current RPO continue to grow at a healthy pace.
Notably, a significant portion of future revenue remains already contracted, which bolsters the durability of Fortinet, Inc. (NASDAQ:FTNT)’s subscription and support model. However, the analyst also noted the increasing inventory purchase commitments as well as supply chain constraints, mainly related to components like memory chips, which can result in execution and balance sheet risk.
The analyst highlighted a high concentration of hardware manufacturing in Taiwan. This is despite the diversification efforts. Therefore, the company is exposed to geopolitical and operational disruptions.