Fortinet (NASDAQ:FTNT) Stock Price Expected to Rise, Piper Sandler Analyst Says

According to a report by Benzinga Piper Sandler analysts increased their price target for Fortinet (NASDAQ; FTNT. Get Free Report) from $80 to $100 on Tuesday and maintained a "neutral" rating on the companys stock.The new price target implies a 9..55 % increase, in the current stock price of Fortinet.

Several additional brokerage firms have recently published analyses on FTNT well. Scotiabank raised Fortinets price target from$75 to$85. Labeled the stock as "sector outperform. Recommending it in a report dated Friday November 8th. DZ Bank also upgraded Fortinet from a "sell" to a "hold" rating. Specified a target price of$65, per share in their report on Thursday August 8th. Stifel Nicolaus increased their target price for Fortinet from $84 to $90. Rated the company as "hold " according to a report released on Tuesday. Guggenheim downgraded Fortinet from a "buy" to a "rating in a research report dated Monday 29th July. In another report, on Tuesday Wells Fargo & Company raised their target price for Fortinet from $80 to$85. Rated the company as "equal weight.”One analyst recommended selling the stock while nineteen suggested holding onto it and twelve advised buying shares of the companys stock; one analyst strongly recommended buying it instead of holding or selling it entirely according to MarketBeats consensus rating of "Hold". The average target price for the stock is $86 as, per their analysis.

Check out our recent insights, on Fortinet.

Fortinets shares experienced a decline of $0.60 on Tuesday to reach $91.28 with a trading volume of 1,990 471 shares – compared to its average volume of 5,496 537 shares. The company has a market capitalization valued at $69.96 billion. Holds a P/E ratio of 46.10 along with a P/E/G ratio standing at 2.82 and a beta value of 1.00. Fortinet saw fluctuations, between its 1 year low at $50.65. Its high reaching $100.59. The business shows a ratio of 1;25 and a current ratio of 1;34 with a debt to equity ratio of 1;09 in its financial performance indicators or metrics; also noting that the company has an average price of $81;10 over 50 days and $69;51 over 200 days, in moving averages.

In Fortinet updates today; CEO Ken Xie recently sold 23 307 shares of the companys stock on Wednesday the 16th of October at an average price of $81 89 per share. Totaling to a transaction value of about$ 1908610 23. Following this move the companys chief executive officer now holds 48915530 shares in total which equates to an estimated value of around$400569275170 This corresponds to a small0 point zero five percent decrease in ownership of the companys stock.The details regarding this transaction were made public in a filing, with the SEC. Can be viewed through this link provided here. Insiders own 18 percent of the companys stock at present.

Big investors have been trading shares of the company lately. During the third quarter period Eastern Bank acquired an interest in Fortinet shares worth around $25 000. Ashton Thomas Securities LLC also got into Fortinet during the quarter with an investment of $26 000. Private Wealth Management Group LLC increased their stake, in Fortinet shares by 73. 3 % During that quarter. Private Wealth Management Group LLC currently holds 409 shares of the software companys stock valued at $32k after acquiring a 173 shares last quarter; Oakworth Capital Inc initiated a new investment in Fortinet during the second quarter totaling around $33k; and finally Versant Capital Management Inc increased its stake, in Fortinet by 61· 20 % during the same quarter owning now 627 shares of the software companys stock valued at $38k after acquiring an additional 238 shares during that period. Institutional investors own, around 83 percent of the companys stock holdings.

Fortinet Inc provides cybersecurity and networking security solutions globally with a focus on combining networking and security features in their offerings such as networking solutions and network firewall solutions like Fortigate data centers and distributed firewalls along with encrypted applications wireless LAN solutions secure connectivity options like Fortiswitch secure ethernet switches Fortiap wireless local area network access points and Fortextender 5g connectivity gateways, among other products.

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