Fortinet PT Raised to $26.00 (FTNT)
Analysts at Jefferies Group hoisted their price objective on shares of Fortinet (NASDAQ:FTNT) from $25.00 to $26.00 in a research report issued to clients and investors on Thursday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price target points to a potential upside of 13.39% from the stock’s previous close.
FTNT has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Fortinet in a research note on Thursday. They now have a $27.00 price target on the stock, up previously from $25.00. Separately, analysts at Nomura reiterated a “buy” rating on shares of Fortinet in a research note on Monday, April 7th. They now have a $26.00 price target on the stock, down previously from $27.00. Finally, analysts at Wells Fargo & Co. upgraded shares of Fortinet from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 2nd. They now have a $25.00 price target on the stock, up previously from $23.00. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $25.09.
Shares of Fortinet (NASDAQ:FTNT) traded up 4.03% during mid-day trading on Thursday, hitting $22.929. 6,584,143 shares of the company’s stock traded hands. Fortinet has a 52 week low of $16.29 and a 52 week high of $23.93. The stock has a 50-day moving average of $22.40 and a 200-day moving average of $20.80. The company has a market cap of $3.734 billion and a price-to-earnings ratio of 84.77.
Fortinet (NASDAQ:FTNT) last released its earnings data on Wednesday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $168.90 million for the quarter, compared to the consensus estimate of $157.96 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, analysts predict that Fortinet will post $0.49 earnings per share for the current fiscal year.
Fortinet, Inc (NASDAQ:FTNT) provides network security solutions.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.