Fortinet (FTNT) : Analyst Rating Update

Fortinet (FTNT) : 10 brokerage houses believe that Fortinet (FTNT) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 7 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Fortinet (FTNT). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 19 Wall Street Analysts endorse the stock as a Buy with a rating of 1.84.

Fortinet (FTNT) : 16 Wall Street analysts covering Fortinet (FTNT) believe that the average level the stock could reach for the short term is $41.31. The maximum price target given is $54 and the minimum target for short term is around $30, hence the standard deviation is calculated at $7.23.

Fortinet (NASDAQ:FTNT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.28 and $30.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.88. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.68, notching a gain of 0.35% for the day. The total traded volume was 1,422,227 . The stock had closed at $31.57 on the previous day.

Also, In the latest statement by the brokerage house, Stifel Nicolaus downgrades its outlook on Fortinet (NASDAQ:FTNT). The current rating of the shares is Hold, according to the research report released by the firm. Previously, the company had a rating of Buy. The rating by the firm was issued on April 27, 2016. The company shares have dropped -22.18% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $50.31 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $33.37 and the 200 Day Moving Average price is recorded at $30.17.

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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