Fortinet Inc (NASDAQ:FTNT) stock is lifting the cybersecurity sector today, after the company's stronger-than-expected fourth-quarter results, announced after yesterday's close. FTNT has pared gains since its earlier surge to $73.91, but was still up 2.2% at $68.97 at last check.
No fewer than 21 analysts lifted their price targets on the equity after the report, bringing the 12-month consensus price target to $74.42. Over the last month, Fortinet stock saw two downgrades despite its recent uptrend, but analysts have yet to chime in with any rating adjustments today.
The stock has been climbing since its Nov. 3 52-week low of $44.12, up 17.2% just in 2024 with help from its 20-day moving average. Its earlier surge had it nearing its pre-August bear-gap levels, though not quite there.
Unsurprisingly, options traders are targeting Fortinet stock after the earnings event, with 54,000 calls and 28,000 puts exchanged so far -- five times the average daily volume. The weekly 2/9 70-strike call is the most popular, where new positions are being opened.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
