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.

Fortinet Trading Down 0.0 %

Shares of FTNT traded down $0.02 during mid-day trading on Monday, hitting $54.27. 51,975 shares of the company's stock traded hands, compared to its average volume of 6,717,478. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 4.24. Fortinet has a 1 year low of $48.73 and a 1 year high of $74.35. The firm has a market capitalization of $42.79 billion, a P/E ratio of 66.69, a PEG ratio of 3.88 and a beta of 1.14. The business's 50-day moving average price is $62.18 and its 200-day moving average price is $61.78.

Analysts Set New Price Targets

FTNT has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on Fortinet to $66.00 and set an "equal weight" rating for the company in a research note on Monday, June 27th. Barclays cut their price target on shares of Fortinet from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Thursday, August 4th. BMO Capital Markets reduced their price objective on shares of Fortinet from $70.00 to $68.00 and set an "outperform" rating on the stock in a research note on Thursday, August 4th. KeyCorp decreased their price target on shares of Fortinet from $82.00 to $70.60 in a research note on Wednesday, May 11th. Finally, Evercore ISI cut their price target on shares of Fortinet to $75.00 in a report on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $72.16.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 8,267 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $60.64, for a total value of $501,310.88. Following the transaction, the vice president now owns 29,772,120 shares of the company's stock, valued at $1,805,381,356.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Michael Xie sold 8,267 shares of the 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 in the company, valued at $1,805,381,356.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith Jensen sold 1,324 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $250,268.69. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,479 shares of company stock valued at $3,117,553. 18.60% of the stock is currently owned by corporate insiders.