Does Fortinet, Inc. (NASDAQ:FTNT)'s Growth Make it a Buy?

Alain Brian
Juin 10, 2017

FTNT's total short interest was 5.62 million shares in June as published by FINRA.

FTNT has been the topic of a number of recent research reports.

Insider Trades for Fortinet Inc. show that the latest trade was made on 16 May 2017 where JENSEN KEITH, the Officer completed a transaction type "Buy" in which 624 shares were traded at a price of $23.83. Vetr raised Fortinet from a "hold" rating to a "strong-buy" rating and set a $48.00 price target on the stock in a report on Monday, April 24th. As per Wednesday, October 12, the company rating was maintained by Oppenheimer. The firm earned "Outperform" rating on Tuesday, August 25 by FBR Capital. The company was maintained on Friday, October 23 by Dougherty & Company. The average 12-month price target among brokerages that have covered the stock in the previous year is $40.67.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Fortinet Inc (NASDAQ:FTNT) high price target of $50 and with a conservative view have low price target of $36. The company had a trading volume of 900,251 shares.

There has been some selling insider activity on Fortinet, Inc. The stock has a market capitalization of $6.95 billion, a PE ratio of 171.83 and a beta of 1.28. The stock is trading at $37.32 marginally under the 50 day moving average which is $39.58 and just above the 200 day moving average of $35.57.

Fortinet (NASDAQ:FTNT) last announced its quarterly earnings results on Thursday, April 27th. The consensus mean EPS for the current quarter is at $0.2 derived from a total of 25 estimates from the analysts who have weighed in on projected earnings. Fortinet had a return on equity of 4.74% and a net margin of 2.09%. The business had revenue of $340.60 million during the quarter, compared to the consensus estimate of $334.44 million. During the same period in the prior year, the company posted $0.12 EPS. The business's revenue for the quarter was up 19.7% on a year-over-year basis. On average, equities analysts anticipate that Fortinet Inc will post $0.91 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Transcript Daily and is owned by of Transcript Daily. Following the sale, the vice president now owns 11,868 shares of the company's stock, valued at approximately $468,192.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1607 Capital Partners Llc owns 1.38 million shares or 0.81% of their USA portfolio. The disclosure for this sale can be found here.

Large investors have recently added to or reduced their stakes in the stock.

Quentec Asset Management Llc increased Canadian Solar Inc (NASDAQ:CSIQ) stake by 609,242 shares to 2.21 million valued at $26.89M in 2016Q4. Pinnacle Associates Ltd. now owns 7,295 shares of the software maker's stock valued at $280,000 after buying an additional 410 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Fortinet by 23.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,267,868 shares of the software maker's stock worth $48,624,000 after buying an additional 342,882 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Fortinet during the fourth quarter valued at approximately $121,000. Marshall Wace LLP boosted its stake in Fortinet by 159.2% in the fourth quarter. Zacks Investment Management now owns 293,387 shares of the software maker's stock worth $10,835,000 after buying an additional 3,956 shares during the last quarter. Two Sigma Investments LP now owns 2,091,115 shares of the software maker's stock worth $62,984,000 after buying an additional 1,138,307 shares during the period. Pacer Advisors Inc. boosted its stake in Fortinet by 19.1% in the first quarter. The Firm 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 Inc. had 65 analyst reports since July 23, 2015 according to SRatingsIntel.

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