Investing.com -- KeyBanc Capital Markets upgraded Okta Inc (NASDAQ:OKTA) and Fortinet Inc (NASDAQ:FTNT) to "overweight," on improving demand in the cybersecurity sector for 2025, while it downgraded C3.ai Inc (NYSE:AI) to "underweight."
The brokerage expects stronger IT budgets next year, with identity and firewalls emerging as top priorities in security.
Okta benefits from its leadership in identity solutions, while Fortinet is poised for growth from a broader industry refresh and its competitive edge in secure access service edge.
KeyBanc set a price target of $115 for both Okta and Fortinet, noting their attractive valuation and potential for estimate revisions and multiple expansion.
“We don't think Fortinet's own end-of-service refresh opportunity is sufficiently captured in consensus estimates,” analyst said.
C3.ai was downgraded due to concerns about slowing subscription revenue growth and reliance on key partnerships. KeyBanc set a $29 price target for the stock, implying 28% downside.
The brokerage said Snowflake (NYSE:SNOW) was in the early innings of benefiting from an increased strategic priority of OLAP, a significantly expanded product portfolio, including in AI, adding “believe an opportunity for further improvement in investor sentiment.”
Related Articles
KeyBanc upgrades Okta, Fortinet as it sees a bright 2025 for cybersecurity
Dealmakers eye $4 trillion-plus M&A haul in 2025 on Trump boost
Amazon workers strike at seven US facilities ahead of Christmas rush
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。