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Fortinet Inc (NASDAQ:FTNT) has been downgraded to Sell in a report by Zacks Investment Research today.

Just yesterday Fortinet Inc (NASDAQ:FTNT) traded -0.58% lower at $31.19. Fortinet Inc’s 50-day moving average is $35.71 and its 200-day moving average is $33.60. The last stock price is down -7.72% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 1,059,020 shares of FTNT traded hands, down from an average trading volume of 1,969,340

Zacks Investment Research has downgraded Fortinet Inc (NASDAQ:FTNT) to Sell in a report released on 10/14/2016.

Previously on 10/12/2016, Dougherty & Co released a statement about Fortinet Inc (NASDAQ:FTNT) reduced the target price from $40.00 to $35.00. At the time, this indicated a possible upside of 0.03%.

See Chart Below

Fortinet Inc (NASDAQ:FTNT)

Fortinet Inc has a 52 week low of $23.16 and a 52 week high of $44.63 with a P/E ratio of 838.11 The company’s market cap is currently $0.

In addition to Zacks Investment Research reporting its target price, a total of 28 firms have reported on the stock. The consensus target price 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 equity analysts rating the company a underperform, and lastly zero equity analysts rating the company a sell.

Brief Synopsis About Fortinet Inc (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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