Fortinet (NASDAQ:FTNT) Downgrade
In analysts note sent to investors today, JPMorgan lowered shares of Fortinet (NASDAQ:FTNT) to Neutral rating from Overweight rating.
In spite of the rating downgrade NASDAQ:FTNT is at the moment trading 0.17% higher at $40.39 as of 8:18 AM New York time. Fortinet’s stock is 0% in the last 200 days. It has underperformed the S&P 500 Index, which has surged 6.00% in the same time.
According to data compiled by Thomson Reuters, Fortinet (NASDAQ:FTNT)’s stock is covered by 28 equity analysts across the Street, with 0 analysts giving it a Sell rating, 22 a Buy rating, while 11 consider it a Hold. The 12-month consensus target price for the stock is $40.79, which reflects an upside potential of 0.99% 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 0.17% on 12 December, hitting $40.39. A total of 271,334 shares of the company’s stock traded hands. This is down from average of 1.38 million 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 $7.10 billion and a P/E ratio of 110.46.
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