Analysts Offer Insights on Technology Companies: ServiceNow (NYSE: NOW) and Fortinet (NASDAQ: FTNT)

By Austin Angelo

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on ServiceNow (NYSE: NOW) and Fortinet (NASDAQ: FTNT).

ServiceNow (NYSE: NOW)

In a report released yesterday, Matthew Hedberg from RBC Capital reiterated a Buy rating on ServiceNow (NYSE: NOW), with a price target of $110. The company’s shares closed last Friday at $106.03, close to its 52-week high of $106.73.

According to TipRanks.com, Hedberg is a top 25 analyst with an average return of 24.5% and a 78.0% success rate. Hedberg covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Automatic Data Processing, and Interactive Intelligence.

Currently, the analyst consensus on ServiceNow is Strong Buy and the average price target is $109.57, representing a 3.3% upside.

In a report issued on May 25, Stephens also initiated coverage with a Buy rating on the stock with a $120 price target.
Fortinet (NASDAQ: FTNT)

RBC Capital analyst Ross MacMillan reiterated a Hold rating on Fortinet (NASDAQ: FTNT) yesterday and set a price target of $41. The company’s shares closed last Friday at $39.49, close to its 52-week high of $41.33.

According to TipRanks.com, MacMillan is a top 25 analyst with an average return of 24.9% and a 88.5% success rate. MacMillan covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Intralinks Holdings, and Palo Alto Networks.

Fortinet has an analyst consensus of Strong Buy, with a price target consensus of $44.25.

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