Wunderlich Securities Reiterates Hold, $20 PT on Fortinet

Wunderlich Securities is still rated Hold with a $20 PT on Fortinet (NASDAQ: FTNT) following a solid fourth quarter, in which the company beat consensus estimates on both top and bottom lines.

Wunderlich Securities says, "The company posted EPS of $0.14 on revenue of $121 million versus the Street's call for EPS of $0.12 on revenue of $117 million. The quarter was underscored by strong product growth, particularly within the high-end segment, and solid performance from APAC. Less impressive was the company's performance in the Americas and EMEA."

FTNT closed at $22.81 a share on Tuesday.