Fortinet Gets a Hold Rating from Stephens


In a report released yesterday, Jonathan Ruykhaver from Stephens reiterated a Hold rating on Fortinet (NASDAQ: FTNT), with a price target of $60. The company’s shares closed yesterday at $66.56, close to its 52-week high of $67.45.

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 33.3% and a 82.4% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Netscout Systems, New Relic Inc, and Mimecast Ltd.

Fortinet has an analyst consensus of Moderate Buy, with a price target consensus of $59.46.

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Fortinet’s market cap is currently $11.18B and has a P/E ratio of 190.17. The company has a Price to Book ratio of 16.12.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Ken Xie, the President & CEO of FTNT sold 50,000 shares for a total of $3,025,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Fortinet, Inc. engages in the provision of threat management and network security solutions that are designed to address the fundamental problems of an increasingly bandwidth-intensive network environment and a more sophisticated information technology threat landscape.

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