The stock of Fortinet, Inc. (NASDAQ:FTNT) hit a new 52-week high and has $67.49 target or 6.00% above today’s $63.67 share price. The 6 months bullish chart indicates low risk for the $10.70 billion company. The 1-year high was reported on Jun, 12 by Barchart.com. If the $67.49 price target is reached, the company will be worth $642.18 million more. The stock increased 0.66% or $0.42 during the last trading session, reaching $63.67. About 453,435 shares traded. Fortinet, Inc. (NASDAQ:FTNT) has risen 52.26% since June 12, 2017 and is uptrending. It has outperformed by 39.69% the S&P500. Some Historical FTNT News: ; 03/05/2018 – FORTINET 1Q ADJ EPS 33C, EST. 24C; 03/05/2018 – FORTINET INC FTNT.O FY2018 SHR VIEW $1.42, REV VIEW $1.71 BLN — THOMSON REUTERS l/B/E/S; 16/05/2018 – Fortinet Presenting at Bank of America Conference Jun 5; 03/05/2018 – FORTINET INC QTRLY BILLINGS OF $463.2 MLN, UP 15% YEAR OVER YEAR; 03/05/2018 – FORTINET INC QTRLY DEFERRED REVENUE OF $1.40 BLN, UP 27% YEAR OVER YEAR; 04/05/2018 – FORTINET INC FTNT.O : BMO RAISES TARGET PRICE TO $61 FROM $58; 11/04/2018 – Media Advisory: Fortinet to Showcase the Third and the Latest Generation of Network Security with the Evolution of its Security Fabric at RSA Conference 2018; 03/05/2018 – Fortinet 1Q EPS 24c; 15/05/2018 – Blue Harbour Adds Fortinet, Exits Zayo Group: 13F; 11/04/2018 – Arista Networks Joins Fortinet Fabric-Ready Partner Program to Advance Security Automation Across Data Center and Cloud Networks
Proshares Short Vix Short Term Futures Etf (NYSEARCA:SVXY) had an increase of 2.2% in short interest. SVXY’s SI was 13.86 million shares in June as released by FINRA. Its up 2.2% from 13.56M shares previously. With 19.20 million avg volume, 1 days are for Proshares Short Vix Short Term Futures Etf (NYSEARCA:SVXY)’s short sellers to cover SVXY’s short positions. The stock increased 0.43% or $0.06 during the last trading session, reaching $13.92. About 3.79M shares traded. ProShares Short VIX Short-Term Futures (NYSEARCA:SVXY) has declined 82.11% since June 12, 2017 and is downtrending. It has underperformed by 94.68% the S&P500.
Among 36 analysts covering Fortinet Inc. (NASDAQ:FTNT), 21 have Buy rating, 1 Sell and 14 Hold. Therefore 58% are positive. Fortinet Inc. has $70 highest and $27 lowest target. $49.16’s average target is -22.79% below currents $63.67 stock price. Fortinet Inc. had 131 analyst reports since July 23, 2015 according to SRatingsIntel. Monness initiated it with “Buy” rating and $4500 target in Wednesday, June 14 report. On Wednesday, October 12 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The firm has “Buy” rating by Bank of America given on Tuesday, February 6. The rating was maintained by Piper Jaffray with “Buy” on Wednesday, February 28. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, October 23. Deutsche Bank downgraded the shares of FTNT in report on Tuesday, January 26 to “Hold” rating. The firm has “Outperform” rating given on Wednesday, March 29 by Robert W. Baird. The stock of Fortinet, Inc. (NASDAQ:FTNT) earned “Outperform” rating by FBR Capital on Friday, October 23. The company was maintained on Tuesday, February 6 by Stifel Nicolaus. As per Friday, May 4, the company rating was maintained by BMO Capital Markets.
Analysts await Fortinet, Inc. (NASDAQ:FTNT) to report earnings on July, 25. They expect $0.18 EPS, up 28.57% or $0.04 from last year’s $0.14 per share. FTNT’s profit will be $30.26 million for 88.43 P/E if the $0.18 EPS becomes a reality. After $0.17 actual EPS reported by Fortinet, Inc. for the previous quarter, Wall Street now forecasts 5.88% EPS growth.
Fortinet, Inc. provides cybersecurity solutions for enterprises, service providers, and government organizations worldwide. The company has market cap of $10.70 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 179.35 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.
More notable recent Fortinet, Inc. (NASDAQ:FTNT) news were published by: Nasdaq.com which released: “Fortinet Inc Earnings Confirm My Bull Thesis” on June 08, 2018, also 247Wallst.com with their article: “Short Sellers Hike Bets in Cybersecurity Stocks” published on June 12, 2018, Globenewswire.com published: “Fortinet Acquires Bradford Networks” on June 04, 2018. More interesting news about Fortinet, Inc. (NASDAQ:FTNT) were released by: Nasdaq.com and their article: “Fortinet Introduces Machine Learning Capabilities to its FortiWeb Web Application Firewall for Advanced Behavioral …” published on June 05, 2018 as well as Nasdaq.com‘s news article titled: “Fortinet Expands Global Managed Security Service Provider Program with New Services Enablement and Technical …” with publication date: May 30, 2018.