Fortinet (FTNT) : Traders are bullish on Fortinet (FTNT) as it has outperformed the S&P 500 by a wide margin of 3.13% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.97%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.29% in the last 1 week, and is up 2.91% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
For the current week, the company shares have a recommendation consensus of Buy. The stock has recorded a twenty day Moving Average of 4.41% and the fifty day Moving Average is 5.6%. Fortinet Inc. is up 5.09% in the last three month period. Year-to-Date the stock performance stands at 14.53%.
Fortinet (FTNT) : 14 investment research analysts covering Fortinet (FTNT) have an average price target of $39.07 for the near short term. The highest target price given by the Brokerage Firm to the stock is $50 and the lowest target is $30 for the short term. Analysts expect the variance to be within $5.05 of the average price.
Fortinet (NASDAQ:FTNT): stock turned positive on Friday. Though the stock opened at $35.59, the bulls momentum made the stock top out at $35.87 level for the day. The stock recorded a low of $35.29 and closed the trading day at $35.7, in the green by 0.34%. The total traded volume for the day was 966,392. The stock had closed at $35.58 in the previous days trading.
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.