Fortinet Inc (NASDAQ:FTNT) on Focus After Report of Less Shorts

Fortinet, Inc. (NASDAQ:FTNT) Logo

The stock of Fortinet Inc (NASDAQ:FTNT) registered a decrease of 6.11% in short interest. FTNT’s total short interest was 6.54 million shares in August as published by FINRA. Its down 6.11% from 6.96 million shares, reported previously. With 1.66M shares average volume, it will take short sellers 4 days to cover their FTNT’s short positions. The short interest to Fortinet Inc’s float is 4.56%.

The stock decreased 0.76% or $0.61 during the last trading session, reaching $80.1. About 1.33M shares traded. Fortinet, Inc. (NASDAQ:FTNT) has risen 27.92% since August 15, 2018 and is uptrending. It has outperformed by 27.92% the S&P500.

Fortinet, Inc. provides cybersecurity solutions for enterprises, service providers, and government organizations worldwide. The company has market cap of $13.70 billion. The firm offers FortiGate physical and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, Web filtering, anti-spam, and wide area network acceleration; FortiManager product family to provide a central management solution for FortiGate products comprising software updates, configuration, policy settings, and security updates; and the FortiAnalyzer product family, which offers a single point of network log data collection. It has a 37.71 P/E ratio. It also provides FortiAP secure wireless access points; FortiWeb, a Web application firewall; FortiMail email security; FortiDB database security appliances; FortiClient, an endpoint security software; and FortiSwitch secure switch connectivity products.

Fortinet, Inc. (NASDAQ:FTNT) Ratings Coverage

Among 5 analysts covering Fortinet (NASDAQ:FTNT), 1 have Buy rating, 1 Sell and 3 Hold. Therefore 20% are positive. Fortinet has $95 highest and $7900 lowest target. $86.83’s average target is 8.40% above currents $80.1 stock price. Fortinet had 14 analyst reports since March 26, 2019 according to SRatingsIntel. J.P. Morgan upgraded the stock to “Buy” rating in Monday, June 24 report. Morgan Stanley maintained it with “Equal-Weight” rating and $7900 target in Friday, August 2 report. Mizuho initiated Fortinet, Inc. (NASDAQ:FTNT) on Tuesday, March 26 with “Hold” rating. The stock of Fortinet, Inc. (NASDAQ:FTNT) earned “Hold” rating by Stifel Nicolaus on Tuesday, April 16. Citigroup maintained the stock with “Sell” rating in Friday, August 2 report.

More notable recent Fortinet, Inc. (NASDAQ:FTNT) news were published by: Nasdaq.com which released: “Microchip (MCHP) Q1 Earnings Beat Estimates, Revenues Miss – Nasdaq” on August 07, 2019, also Nasdaq.com with their article: “Fortinet Sweeps Three Categories in CRN’s 2019 Annual Report Card Awards – Nasdaq” published on August 12, 2019, Nasdaq.com published: “Avnet’s (AVT) Q4 Earnings Lag Estimates, Revenues Down Y/Y – Nasdaq” on August 12, 2019. More interesting news about Fortinet, Inc. (NASDAQ:FTNT) were released by: Benzinga.com and their article: “38 Technology Stocks Moving In Thursday’s After-Market Session – Benzinga” published on August 02, 2019 as well as Investorplace.com‘s news article titled: “6 Big Growth ETFs to Buy For the Second Half of 2019 – Investorplace.com” with publication date: August 07, 2019.

Fortinet, Inc. (NASDAQ:FTNT) Ratings Chart

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