Analysts at FBR Capital Markets lifted their price target on shares of Fortinet (NASDAQ:FTNT) from $23.00 to $25.00 in a research report issued to clients and investors on Thursday, ARN reports. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price target would suggest a potential upside of 17.15% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at B. Riley upgraded shares of Fortinet from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday. They now have a $24.00 price target on the stock, up previously from $23.00. Separately, analysts at Nomura reiterated a “buy” rating on shares of Fortinet in a research note to investors on Wednesday. They now have a $23.00 price target on the stock, up previously from $22.00. Finally, analysts at Northland Securities downgraded shares of Fortinet from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. They now have a $23.00 price target on the stock.
Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.39.
Shares of Fortinet (NASDAQ:FTNT) traded down 0.09% during mid-day trading on Thursday, hitting $21.32. Fortinet has a one year low of $16.47 and a one year high of $28.23. The stock’s 50-day moving average is currently $19.0. The company has a market cap of $3.459 billion and a P/E ratio of 56.16.
Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.10 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.10. The company had revenue of $147.40 million for the quarter, compared to the consensus estimate of $142.63 million. During the same quarter last year, the company posted $0.12 earnings per share. Fortinet’s revenue was up 14.3% compared to the same quarter last year. Analysts expect that Fortinet will post $0.47 EPS for the current fiscal year.
Fortinet, Inc (NASDAQ:FTNT) provides network security solutions.
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