Fortinet (NASDAQ:FTNT) Rating Upgrade
Deutsche Bank has raised Fortinet (NASDAQ:FTNT) stock to Buy in a research report issued to clients and investors on 18 October, and has set an estimated 12-month PT at $48.0. FTNT’s old rating was Hold.
This rating upgrade is well-received by stock traders, as NASDAQ:FTNT is at the moment trading 2.83% higher at $40.37 as of 10:09 AM New York time. Fortinet’s stock is 0% in the last 200 days. It has underperformed the S&P 500 Index, which has added 6.00% in the same time period.
Out of 28 analysts covering Fortinet, 22 rate it a Buy, 11 indicate a Hold while 0 suggest a Sell. The highest target is $55 and the lowest is $27 according to Thomson/First Call. The 12-month mean target is $40.79, which means upside potential of 1.04% over the current price.
Fortinet (NASDAQ:FTNT) Profile
Fortinet, Inc. is a network security company. The Company provides cyber security solutions to a range of enterprises, service providers and government organizations across the world. Its network security solution consists of FortiGate physical, virtual machine and cloud platforms, which provide integrated security and networking functions to protect data, applications and users from network-and content-level security threats.
Fortinet (NASDAQ:FTNT) traded up 2.83% on 18 October, hitting $40.37. A total of 1.66M shares of the company’s stock traded hands. This is up from average of 1.33M shares. Fortinet has a 52 week low of $28.50 and a 52 week high of $41.56. The company has a market cap of $7.10B and a P/E ratio of 110.41.
Get the latest Fortinet (NASDAQ:FTNT) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.
The post Analysts at Deutsche Bank Improved Fortinet (NASDAQ:FTNT) Rating from Hold to Buy. The Target is Set to $48.0 appeared first on Octafinance.