Semiconductor names and crypto-related stocks have been two of the hottest sectors throughout the last few months. But, Chaikin Analytics founder Marc Chaikin says that just because they’ve done well, doesn’t mean they’re both buying opportunities.
SentinelOne (NYSE: S) upgraded to Buy, price target raised to $35. Positive outlook on profitability, ARR growth, and market conditions. Strong competition and risks, but potential for top-line and nnARR upside. Trading at a discount compared to peers. Fourth-quarter revenue and EPS projected at $169.26 million and $(0.04).
AI-driven cybercriminals targeting government and corporate records are pushing for increased AI deployment. Companies like Microsoft and OpenAI are detecting and banning state-backed hacking groups.
Nvidia and Meta Platforms, top AI plays and members of Magnificent 7, lead S&P 500 this year. Other AI stocks like Palo Alto, Fortinet, and Juniper also show strong growth potential.
Wedbush analyst Daniel Ives maintained Fortinet with an Outperform and raised the price target from $75 to $86.
Susquehanna analyst Anne Meisner maintained Fortinet with a Neutral and raised the price target from $55 to $80.
Wednesday is a bullish day on Wall Street, with major large-cap indices extending record highs, aided by robust corporate earnings. Despite the overall market optimism, concerns linger within segments such as regional banks, highlighting investor caution.
Shares of Fortinet Inc (NASDAQ: FTNT) climbed in premarket trading on Wednesday, after the cybersecurity company reported better-than-expected fourth-quarter results.