Fortinet faces setback as SASE demand falters

Wells Fargo Cuts Fortinet as SASE Demand Starts Slowly

Fortinet (FTNT) shares were downgraded from Overweight to Equal Weight by Wells Fargo on Tuesday. The analysts also increased the price target for the stock to $65 from $60 per share. This downgrade was based on several factors, including the slow start of SASE (Secure Access Service Edge) demand trends, which are a crucial driver of billings and free cash flow growth.