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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley dropped their target price on Fortinet to $66.00 and set an "equal weight" rating for the company in a report on Monday, June 27th. StockNews.com upgraded Fortinet from a "hold" rating to a "buy" rating in a report on Tuesday, August 2nd. Mizuho raised Fortinet from a "neutral" rating to a "buy" rating and raised their price target for the stock from $68.00 to $70.00 in a research note on Thursday, May 5th. BMO Capital Markets decreased their price target on Fortinet from $70.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, August 4th. Finally, The Goldman Sachs Group raised their price target on Fortinet from $72.40 to $78.00 in a research note on Tuesday, April 12th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $72.16.

Fortinet Trading Down 2.1 %

Shares of NASDAQ:FTNT opened at $52.19 on Wednesday. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.12 and a quick ratio of 1.05. The stock has a market capitalization of $41.89 billion, a P/E ratio of 64.43, a price-to-earnings-growth ratio of 3.88 and a beta of 1.14. Fortinet has a 1-year low of $48.73 and a 1-year high of $74.35. The business has a fifty day moving average price of $62.52 and a 200 day moving average price of $61.77.

Insider Buying and Selling

In related news, CFO Keith Jensen sold 1,324 shares of the company's stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $283.43, for a total transaction of $375,261.32. Following the completion of the sale, the chief financial officer now directly owns 883 shares in the company, valued at approximately $250,268.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Michael Xie sold 8,267 shares of the company'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 transaction, the vice president now directly owns 29,772,120 shares of the company's stock, valued at approximately $1,805,381,356.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith Jensen sold 1,324 shares of the company's stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $283.43, for a total value of $375,261.32. Following the transaction, the chief financial officer now directly owns 883 shares in the company, valued at $250,268.69. The disclosure for this sale can be found here. Insiders sold 17,479 shares of company stock worth $3,117,553 in the last three months. 18.60% of the stock is owned by insiders.