Fortinet - FTNT Stock Forecast, Price & News

Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products. It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiToken and FortiAuthenticator product families for multi-factor authentication to safeguard systems, assets, and data; and FortiEDR/XDR, an endpoint protection solution that provides both comprehensive machine-learning anti-malware execution and real-time post-infection protection. It provides security subscription, technical support, professional, and training services. It sells its security solutions to channel partners and directly to various customers in telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare industries. It has strategic alliance with Linksys. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wedbush cut their price objective on shares of Fortinet from $74.00 to $68.00 in a report on Thursday, May 5th. Morgan Stanley decreased their price target on shares of Fortinet to $66.00 and set an "equal weight" rating on the stock in a research report on Monday, June 27th. TheStreet downgraded shares of Fortinet from a "b" rating to a "c+" rating in a research report on Tuesday, May 10th. Barclays decreased their price objective on shares of Fortinet from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Thursday, August 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Fortinet from $60.00 to $63.00 in a research report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $72.16.

Fortinet Stock Performance

Shares of NASDAQ:FTNT opened at $52.52 on Friday. Fortinet has a 52 week low of $48.73 and a 52 week high of $74.35. The stock has a market capitalization of $41.41 billion, a P/E ratio of 64.84, a PEG ratio of 3.73 and a beta of 1.14. The firm has a fifty day simple moving average of $62.28 and a two-hundred day simple moving average of $61.67. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 4.24.

Insiders Place Their Bets

In other Fortinet news, CFO Keith Jensen sold 7,888 shares of Fortinet stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $284.10, for a total value of $2,240,980.80. Following the completion of the transaction, the chief financial officer now directly owns 883 shares of the company's stock, valued at approximately $250,860.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Keith Jensen sold 7,888 shares of the firm's stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $284.10, for a total value of $2,240,980.80. Following the completion of the sale, the chief financial officer now owns 883 shares in the company, valued at approximately $250,860.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Xie sold 8,267 shares of the firm's stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $60.64, for a total transaction of $501,310.88. Following the completion of the sale, the vice president now owns 29,772,120 shares of the company's stock, valued at approximately $1,805,381,356.80. The disclosure for this sale can be found here. Insiders sold 17,479 shares of company stock valued at $3,117,553 in the last three months. Corporate insiders own 18.60% of the company's stock.