How Analysts Feel About Fortinet Inc (NASDAQ:FTNT) After Increase in Sellers?

July 27, 2018 - By Billy Entrekin

Fortinet, Inc. (NASDAQ:FTNT) Logo

The stock of Fortinet Inc (NASDAQ:FTNT) registered an increase of 6.25% in short interest. FTNT’s total short interest was 4.97 million shares in July as published by FINRA. Its up 6.25% from 4.68 million shares, reported previously. With 1.40 million shares average volume, it will take short sellers 4 days to cover their FTNT’s short positions. The short interest to Fortinet Inc’s float is 3.34%.

The stock increased 0.20% or $0.14 during the last trading session, reaching $68.57. About 989,802 shares traded. Fortinet, Inc. (NASDAQ:FTNT) has risen 52.26% since July 27, 2017 and is uptrending. It has outperformed by 39.69% the S&P500.

Fortinet, Inc. provides cybersecurity solutions for enterprises, service providers, and government organizations worldwide. The company has market cap of $11.53 billion. The firm offers FortiGate physical and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and wide area network acceleration; FortiManager product family to provide a central management solution for FortiGate products comprising software updates, configuration, policy settings, and security updates; and the FortiAnalyzer product family, which offers a single point of network log data collection. It has a 193.15 P/E ratio. It also provides FortiAP secure wireless access points; FortiWeb, a Web application firewall; FortiMail email security; FortiDB database security appliances; FortiClient, an endpoint security software; and FortiSwitch secure switch connectivity products.

Fortinet, Inc. (NASDAQ:FTNT) Ratings Coverage

Among 17 analysts covering Fortinet (NASDAQ:FTNT), 7 have Buy rating, 1 Sell and 9 Hold. Therefore 41% are positive. Fortinet had 33 analyst reports since February 5, 2018 according to SRatingsIntel. The stock has “Buy” rating by Piper Jaffray on Friday, May 4. The firm has “Hold” rating given on Wednesday, April 11 by Stephens. The company was maintained on Tuesday, February 6 by Citigroup. KeyBanc Capital Markets maintained the shares of FTNT in report on Thursday, March 1 with “Buy” rating. The stock has “Buy” rating by BMO Capital Markets on Wednesday, March 28. The stock of Fortinet, Inc. (NASDAQ:FTNT) earned “Equal-Weight” rating by Barclays Capital on Tuesday, February 6. The rating was maintained by Deutsche Bank on Friday, May 4 with “Hold”. Citigroup maintained it with “Neutral” rating and $56 target in Monday, April 16 report. The firm has “Buy” rating by Piper Jaffray given on Wednesday, February 28. The rating was maintained by Stephens on Tuesday, February 6 with “Hold”.

More notable recent Fortinet, Inc. (NASDAQ:FTNT) news were published by: Globenewswire.com which released: “Fortinet to Announce Second Quarter 2018 Financial Results” on July 02, 2018, also 247Wallst.com with their article: “Short Sellers Hike Their Bets in Cybersecurity Stocks” published on July 25, 2018, Nasdaq.com published: “Fortinet Expands Security Fabric Offerings on Google Cloud Platform to Enable Consistent Protection Across Hybrid …” on July 23, 2018. More interesting news about Fortinet, Inc. (NASDAQ:FTNT) were released by: Fool.com and their article: “Why Fortinet, Inc. Stock Has Popped 51.7% So Far in 2018” published on July 17, 2018 as well as Seekingalpha.com‘s news article titled: “Fortinet: A Better Palo Alto?” with publication date: July 06, 2018.

Fortinet, Inc. (NASDAQ:FTNT) Ratings Chart

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