Analyst Price Target Update on Fortinet (NASDAQ:FTNT)

Fortinet (NASDAQ:FTNT) should head towards $40.94 per share according to 17 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $30 per share. The higher price estimate target is at $54 according to the Analysts.

Many analysts have stated their opinion on the company shares. Brokerage firm Stifel Nicolaus downgrades its rating on Fortinet (NASDAQ:FTNT). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on April 27, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Del Matto Andrew H, officer (Chief Financial Officer) of Fortinet Inc, had unloaded 2,750 shares at an average price of $34.23 in a transaction dated on June 1, 2016. The total value of the transaction was worth $94,133.

Fortinet (NASDAQ:FTNT) : On Monday heightened volatility was witnessed in Fortinet (NASDAQ:FTNT) which led to swings in the share price. The stock opened for trading at $33.42 and hit $34.33 on the upside , eventually ending the session at $33.95, with a gain of 0.74% or 0.25 points. The heightened volatility saw the trading volume jump to 1,427,002 shares. The 52-week high of the share price is $50.31 and the company has a market cap of $5,828 million. The 52-week low of the share price is at $23.16 .

Fortinet, Inc. provides cyber security solutions to enterprise, service providers and government organizations across the world. The Companys network security solution consists of FortiGate physical and virtual appliance products that provide an array of integrated security and networking functions to protect data, applications and users from network-and content-level security threats. The Companys FortiGate appliances may be deployed as Next Generation Firewalls (NGFW), Data Center Firewalls (DCFW), Unified Threat Management (UTM) systems, Internal Network Firewall (INFW), Virtual Machine Firewalls or Cloud Firewalls. The FortiGate appliances range from the FortiGate-20 series for small businesses and branch offices to the FortiGate-5000 series for enterprises and service providers, and are based on its technology platform. Its security services are based on intelligence gathered by its FortiGuard Labs team.

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