Analyst Rating Update on Fortinet (FTNT)

Fortinet (NASDAQ:FTNT) : The consensus on Fortinet (NASDAQ:FTNT) based on 19 analyst recommendation on the company stock is 1.84, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 10 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 7 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Fortinet (NASDAQ:FTNT) stock is expected to deviate a maximum of $7.23 from the average target price of $41.31 for the short term period. 16 Street Experts have initiated coverage on the stock with the most promising target being $54 and the most muted being $30.

For the current week, the company shares have a recommendation consensus of Buy. Also, Equity Analysts at the Brokerage Firm, Stifel Nicolaus, downgrades their rating on the shares of Fortinet (NASDAQ:FTNT). Stifel Nicolaus has a Hold rating on the shares. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on April 27, 2016.

Fortinet (NASDAQ:FTNT): stock turned positive on Tuesday. Though the stock opened at $30.44, the bulls momentum made the stock top out at $30.56 level for the day. The stock recorded a low of $29.9 and closed the trading day at $30.13, in the green by 0.53%. The total traded volume for the day was 2,212,956. The stock had closed at $29.97 in the previous days trading.

In an insider trading activity,The officer (Chief Financial Officer) of Fortinet Inc, Del Matto Andrew H sold 2,750 shares at $34.23 on June 1, 2016. The Insider selling transaction had a total value worth of $94,133. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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