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A statement released earlier today by Wunderlich Securities about Fortinet (NASDAQ:FTNT) drops the target price to $42.00

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 the stock traded hands, up from an average trading volume of 1,548,740

Fortinet (NASDAQ:FTNT) had its target price dropped to $42.00 by Wunderlich Securities in an issued report announced 10/12/2016. The bumped down target suggests a possible upside of 0.23% from the company's last closing price.

Previously on 9/13/2016, Wunderlich reported on Fortinet (NASDAQ:FTNT) increased the target price from $42.00 to $45.00. At the time, this indicated a possible upside of 0.25%.

See Chart Below

Fortinet (NASDAQ:FTNT)

Fortinet has a P/E ratio of 921.35 with a 52 week low of $23.16 and a 52 week high of $44.63 FTNT’s total market value is currently $0.

In addition to Wunderlich Securities reporting its stock price target, a total of 28 brokers have issued a research note on the company. The average stock price target is $40.79 with 9 brokers rating the stock a strong buy, 13 brokers rating the stock a buy, 11 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis On 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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