Fortinet, Inc. (NASDAQ:FTNT) is one of the In this newsletter, Enrique Abeyta teases a stock that’s part of the ‘AI Endgame.’ Call us intrigued.
Quoting the consultancy McKinsey, he remarks that “McKinsey has gone so far as to call AI ‘the greatest threat…and defense…in cybersecurity today.’” Naturally, this hints that the stock he’s going to be talking about belongs to the cybersecurity sector
To make it even more attractive, Abeyta points out that “even government agencies like NASA and the Department of Defence use this company’s technology to protect their most sensitive systems…” Fortinet, Inc. (NASDAQ:FTNT) is the firm he’s talking about. The shares are up by 17% over the past year and by 46% year-to-date. The stock closed a whopping 20% higher on May 7th.
The jump followed the firm’s first quarter-earnings report, with media reports commenting that Fortinet, Inc. (NASDAQ:FTNT) had dispelled fears of AI disrupting its business. Wells Fargo had set a $63 share price target and an Underweight rating on March 3rd as it wondered about the impact of hardware-centric markets on the firm’s business. While we acknowledge the potential of FTNT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk.