BMO Capital Upgrades Fortinet (NASDAQ:FTNT) Rating to Outperform from Market Perform Having $46.0 Target Price

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BMO Capital Markets Analyst Rating Change Fortinet NASDAQ:FTNT

Fortinet (NASDAQ:FTNT) Rating Increased

In analysts note shared with investors and clients on Friday, 21 April, research professionals at BMO Capital’s equities research division upgraded Fortinet (NASDAQ:FTNT)’s stock from Market Perform to Outperform. They have a price target of $46.0 on FTNT or 19.45 % more upside.

The rating upgrade is well-received by equity trades, as NASDAQ:FTNT is currently trading 0.21% higher at $38.51 as of 10:07 PM New York time. Fortinet shares have [From2] 0% over the last 200 days, while the S&P 500 has surged 12.80% in the same time.

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 5.92% 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 0.21% on 21 April, hitting $38.51. A total of 400 shares of the company’s stock traded hands. This is down from average of 1.43M shares. Fortinet has a 52 week low of $28.50 and a 52 week high of $39.03. The company has a market cap of $6.74B and a P/E ratio of 212.19.

Get the latest Fortinet (NASDAQ:FTNT) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

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