Evercore ISI Group Initiates Coverage on Fortinet Inc to Hold

Evercore ISI Group Initiates Coverage on Fortinet Inc(NASDAQ:FTNT). The shares have been rated Hold. The rating by Evercore ISI Group was issued on Apr 14, 2016.

In a different note, On Mar 31, 2016, Cowen & Company said it Upgrades its rating on Fortinet Inc. The shares have been rated ‘Outperform’ by the firm. Goldman Sachs said it Initiates Coverage on Fortinet Inc, according to a research note issued on Mar 21, 2016. The shares have been rated ‘Conviction Buy’ by the firm. On Jan 29, 2016, Needham said it Downgrades its rating on Fortinet Inc. The shares have been rated ‘Buy’ by the firm. On Jan 26, 2016, Deutsche Bank said it Downgrades its rating on Fortinet Inc. The shares have been rated ‘Hold’ by the firm. On Jan 20, 2016, Piper Jaffray said it Downgrades its rating on Fortinet Inc. The shares have been rated ‘Neutral’ by the firm.

Fortinet Inc (FTNT) made into the market gainers list on Mondays trading session with the shares advancing 2.13% or 0.63 points. Due to strong positive momentum, the stock ended at $30.27, which is also near the day’s high of $30.55. The stock began the session at $29.49 and the volume stood at 15,81,228 shares. The 52-week high of the shares is $50.31 and the 52 week low is $23.16. The company has a current market capitalization of $5,194 M and it has 17,16,03,610 shares in outstanding.

Fortinet Inc(FTNT) last announced its earnings results on Jan 28, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $295.53M. Analysts had an estimated revenue of $296.27M. Earnings per share were $0.18. Analysts had estimated an EPS of $0.18.

Several Insider Transactions has been reported to the SEC. On Mar 23, 2016, John Whittle (VP CorpDev&Strat Alliance, GC) sold 1,779 shares at $30.00 per share price.Also, On Mar 2, 2016, Matto Andrew H Del (Chief Financial Officer) sold 2,250 shares at $28.94 per share price.On Feb 17, 2016, Christopher B Paisley (director) sold 6,000 shares at $24.70 per share price, according to the Form-4 filing with the securities and exchange commission.

Fortinet Inc. provides cyber security solutions to enterprise service providers and government organizations across the world. The Company’s 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 Company’s’ 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.

Leave a Reply

Fortinet Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Fortinet Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.