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Research analysts at Stifel Nicolaus initiated coverage on shares of Fortinet (NASDAQ:FTNT) in a report released on Thursday. The firm set a “hold” rating on the stock.

Shares of Fortinet (NASDAQ:FTNT) opened at 25.59 on Thursday. Fortinet has a 52 week low of $16.29 and a 52 week high of $26.35. The stock’s 50-day moving average is $24.84 and its 200-day moving average is $23.19. The company has a market cap of $4.191 billion and a P/E ratio of 117.61.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.10 by $0.01. The company had revenue of $184.10 million for the quarter, compared to the consensus estimate of $171.58 million. During the same quarter last year, the company posted $0.10 earnings per share. Fortinet’s revenue was up 24.9% compared to the same quarter last year. On average, analysts predict that Fortinet will post $0.48 EPS for the current fiscal year.

FTNT has been the subject of a number of other recent research reports. Analysts at Piper Jaffray initiated coverage on shares of Fortinet in a research note on Tuesday, August 12th. They set an “overweight” rating and a $31.00 price target on the stock. Separately, analysts at Nomura reiterated a “buy” rating on shares of Fortinet in a research note on Thursday, July 24th. They now have a $30.00 price target on the stock, up previously from $27.00. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Fortinet in a research note on Thursday, July 24th. They now have a $29.00 price target on the stock, up previously from $25.00. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $27.45.

Fortinet, Inc (NASDAQ:FTNT) provides network security solutions.

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