The stock of Fortinet Inc (NASDAQ:FTNT) is a huge mover today! About 16.03 million shares traded hands or 990.48% up from the average. Fortinet Inc (NASDAQ:FTNT) has risen 23.20% since March 9, 2016 and is uptrending. It has outperformed by 15.79% the S&P500.
The move comes after 8 months negative chart setup for the $5.06 billion company. It was reported on Oct, 12 by Barchart.com. We have $27.35 PT which if reached, will make NASDAQ:FTNT worth $455.40M less.
Analysts await Fortinet Inc (NASDAQ:FTNT) to report earnings on October, 27. They expect $0.05 earnings per share, up 25.00% or $0.01 from last year’s $0.04 per share. FTNT’s profit will be $8.42M for 150.25 P/E if the $0.05 EPS becomes a reality. After $0.03 actual earnings per share reported by Fortinet Inc for the previous quarter, Wall Street now forecasts 66.67% EPS growth.
Fortinet Inc (NASDAQ:FTNT) Ratings Coverage
Out of 23 analysts covering Fortinet Inc. (NASDAQ:FTNT), 16 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 70% are positive. Fortinet Inc. has been the topic of 45 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The company was initiated on Monday, March 21 by Goldman Sachs. Cowen & Co upgraded the shares of FTNT in a report on Thursday, March 31 to “Outperform” rating. The stock of Fortinet Inc (NASDAQ:FTNT) earned “Buy” rating by Wunderlich on Wednesday, April 27. FBR Capital maintained the stock with “Outperform” rating in Thursday, July 23 report. On Tuesday, September 13 the stock rating was reinitiated by Wunderlich with “Buy”. On Wednesday, January 6 the stock rating was maintained by Barclays Capital with “Overweight”. The stock of Fortinet Inc (NASDAQ:FTNT) earned “Overweight” rating by JP Morgan on Thursday, July 23. The stock has “Neutral” rating given by Piper Jaffray on Wednesday, January 20. Evercore initiated the stock with “Hold” rating in Thursday, April 14 report. The stock has “Buy” rating given by Dougherty & Company on Friday, October 23.
According to Zacks Investment Research, “Fortinet, Inc., headquartered in Sunnyvale, California, is a provider of network security appliances and Unified Threat Management network security solutions to enterprises, service providers and government entities worldwide. Its solutions are designed to integrate multiple levels of security protection, including firewall, virtual private networking, antivirus, intrusion prevention, Web filtering, antispam and wide area network acceleration. Through its products and subscription services, the company provides integrated protection against dynamic security threats while simplifying the IT security infrastructure. Its solution incorporates the application-specific integrated circuits, hardware architecture, operating system, and set of associated security and networking functions to defend against multiple categories of IT security attacks without impacting network performance. Its flagship UTM solution consists of FortiGate appliance product line and FortiGuard security subscription services.”
More recent Fortinet Inc (NASDAQ:FTNT) news were published by: Schaeffersresearch.com which released: “Analyst Downgrades: Fortinet Inc, Valeant Pharmaceuticals Intl Inc, and Xilinx …” on October 12, 2016. Also Rttnews.com published the news titled: “Fortinet Inc. (FTNT) Is Falling After Q3 Guidance Lowered” on October 11, 2016. 247Wallst.com‘s news article titled: “Top Analyst Upgrades and Downgrades: AMD, Corrections Corp, Fortinet, Motorola …” with publication date: October 12, 2016 was also an interesting one.
FTNT Company Profile
Fortinet, Inc., incorporated on November 28, 2000, 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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.