Fortinet, Inc. (NASDAQ:FTNT) registered a 0.24% increase, still its new closing price is 43.26% up from the company’s 1 year high of 37.48.It posted 1.87% gains in previous 5 sessions and is now the subject of 10 analysts who together assign a hold rating on stock. 0 of Wall Street analysts have an underperform rating; the 0 sells versus 5 buy or better ratings. The 28 stock analysts following this company have an average price target at $35.48, with individual PT in the $30.00-$42.00 range. The shares moved at $33.18, implying that brokerage firms see shares gaining about 25.73% in twelve months time.
Fortinet, Inc. (FTNT) SEC Form 4 News
The stock is getting much attention these days as insiders are offloading shares while they posted a 10.16% rise year to date. A President & CEO at Fortinet, Inc. (FTNT) offloaded shares in a transaction closed on Wednesday December 07, 2016. Xie Ken sold 50,000 shares in the company at $30.38 each and collected $1,519,000 in proceeds. Xie Ken now owns 12,815,800 shares in the company after this transaction. A CFO in the company, DEL MATTO ANDREW H, disclosed a transaction on Monday December 05, 2016 that ended up generating $80,001 from the sale of 2,750 shares at $29.39 per share.
Fortinet, Inc. (NASDAQ:FTNT) Upcoming Results on Tap
Fortinet, Inc. will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $0.18 in that period. Sales during the quarter are predicted to arrive at $332.22 million.
Earnings surprise history: Last quarter, the company posted approximately $316.65 million in revenue and EPS of $0.18. The mean forecast was for $314.07 million and $0.15 a share, respectively. One quarter earlier, revenue for the stock was at $311.39 million, with earnings at $0.14/share.
Fortinet, Inc. (FTNT) Brokerage Update
Fortinet, Inc. (FTNT) is in Morgan Stanley’s research list so their analyst rating change is noteworthy. These shares were upgraded to Overweight from Equal-Weight by Morgan Stanley, according to news reported on Tuesday November 15, 2016.Another important research note was issued by Pacific Crest on Tuesday August 30, 2016.The firm upgraded FTNT to Overweight from Sector Weight. Over the last six months and over the last three months, the shares of Fortinet, Inc. (FTNT), have changed -2.90% and 4.47%, respectively.