A report released earlier today by Dougherty & Co about Fortinet (NASDAQ:FTNT) lowers the target price to $35.00
- Updated: October 12, 2016
Yesterday Fortinet (NASDAQ:FTNT) traded -2.57% lower at $34.09. The company’s 50-day moving average is $35.98 and its 200-day moving average is $33.64. The last closing price is up 1.33% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 4,197,863 shares of Fortinet exchanged hands, up from an avg. volume of 1,548,740
In a report issued 10/12/2016 Dougherty & Co dropped the price target of Fortinet (NASDAQ:FTNT) from $40.00 to $35.00 reporting a potential upside of 0.03%.
Previously on Tuesday September 13, 2016, Wunderlich reported about Fortinet (NASDAQ:FTNT) raised the target price from $42.00 to $45.00. At the time, this indicated a possible upside of 0.25%.
With a total market value of $0, Fortinet has price-earnings ratio of 921.35 with a one year low of $23.16 and a one year high of $44.63 .
A total of 28 equity analysts have released a ratings update on FTNT. Nine equity analysts rating the company a strong buy, thirteen equity analysts rating the company a buy, eleven equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $40.79.
Brief Synopsis About Fortinet (NASDAQ:FTNT)
Fortinet, Inc. provides cyber security solutions to enterprises, service providers and government organizations across the world. The Company's flagship network security solution consists of FortiGate physical, virtual machine and cloud platforms, which provide integrated security and networking functions to protect data, applications and users from network-and content-level security threats. The Company's product offerings consist of its FortiGate product family, along with its FortiManager central management and FortiAnalyzer central logging and reporting product families. The Company's cybersecurity platform includes a range of products, which include its FortiMail e-mail security, FortiSandbox advanced threat protection (ATP), FortiWeb Web application firewall, FortiDDos and FortiDB database security appliances, as well as its FortiClient endpoint security software, FortiAP secure wireless access points and FortiSwitch secure switch connectivity products.
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