20 July, 2017
Among 32 analysts covering Fortinet Inc. Finally, Dougherty & Co upped their price target on shares of Fortinet from $38.00 to $46.00 and gave the company a "buy" rating in a research report on Friday, April 21st.
FTNT has been the subject of several other research reports. Robert W. Baird upgraded Fortinet Inc (NASDAQ:FTNT) on Wednesday, March 29 to "Outperform" rating. Nine investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Morgan Stanley downgraded Fortinet Inc (NASDAQ:FTNT) rating on Wednesday, October 12.
06/07/2017 - Susquehanna began new coverage on Fortinet, Inc. giving the company a "neutral" rating. Northland Securities began coverage on Fortinet in a research note on Thursday, June 29th. Out of 4 Wall Street analysts rating DISH Network, 2 give it "Buy", 1 "Sell" rating, while 1 recommend "Hold". The company has a consensus rating of Buy and an average price target of $41.52. Following the transaction, the director now owns 67,949 shares in the company, valued at $2,652,728.96. The stock's market capitalization is 7.07B, it has a 52-week low of 28.50 and a 52-week high of 41.33. The company has market cap of $7.27 billion.
Shares are trading at $40.47 a tad above $38.49, the stock's 50 day moving average and just above the 200 day moving average of $37.23.
Fortinet (NASDAQ:FTNT) last announced its quarterly earnings data on Thursday, April 27th. The software maker reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $340.60 million for the quarter, compared to analyst estimates of $334.44 million.
EPS in next five year years is expected to touch 19.56% while EPS growth in past 5 year was -13.70% along with sales growth of 24.10% in the last five years. During the same quarter in the previous year, the company posted $0.12 earnings per share. Analysts forecast that Fortinet, Inc. will post $0.91 EPS for the current fiscal year. Analyst's mean target price for FTNT is $44.21 while analysts mean recommendation is 2.10. "(FTNT) Lifted to Positive at OTR Global" was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was stolen and reposted in violation of US & worldwide copyright laws. The legal version of this article can be viewed at https://www.thestockobserver.com/2017/07/19/fortinet-nasdaqftnt-receives-news-impact-score-of-0-17-updated.html.
In other news, Director Ming Hsieh sold 4,743 shares of the company's stock in a transaction that occurred on Thursday, June 8th. The shares were sold on May 17th for an average price of $40.73. Also, VP John Whittle sold 11,057 shares of the business's stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $39.45, for a total transaction of $436,198.65. Following the sale, the insider now directly owns 978 shares in the company, valued at $39,833.94. CAO Keith Jensen disclosed the sale of 624 shares. The overall volume in the last trading session was 1.91 million shares.
Investors of this company earned a return of 1.10% on the assets it owns in past twelve month. (WPG) have 186.28 million outstanding shares now held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders. Louisiana State Employees Retirement System boosted its stake in shares of Fortinet by 3.3% in the first quarter. Paloma Partners Management Co now owns 96,682 shares of the software maker's stock worth $3,707,000 after buying an additional 31,740 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Fortinet by 21.4% in the first quarter. Inc. now owns 3,275 shares of the software maker's stock worth $126,000 after buying an additional 2,750 shares in the last quarter. NY increased its position in shares of Fortinet by 1.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 426,986 shares of the software maker's stock valued at $16,375,000 after buying an additional 50,922 shares during the last quarter.
HighTower Advisors LLC increased its stake in Fortinet, Inc. NEXT Financial Group Inc now owns 4,349 shares of the software maker's stock worth $163,000 after buying an additional 4,324 shares during the last quarter. Fny Partners Fund Lp now holds 1,400 shares valued at $53,000.
COPYRIGHT VIOLATION WARNING: "Highbridge Capital Management LLC Buys 35,350 Shares of Fortinet, Inc". The Company provides cyber security solutions to a range of enterprises, service providers and government organizations across the world.