Fortinet Inc (NASDAQ:FTNT)’s Trend Up, Especially After Decreased 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 6.96M 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 1.33 million 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. Citigroup maintained Fortinet, Inc. (NASDAQ:FTNT) rating on Friday, August 2. Citigroup has “Sell” rating and $8000 target. Stifel Nicolaus maintained Fortinet, Inc. (NASDAQ:FTNT) rating on Tuesday, April 16. Stifel Nicolaus has “Hold” rating and $95 target. The rating was initiated by Mizuho with “Hold” on Tuesday, March 26. J.P. Morgan upgraded it to “Buy” rating and $93 target in Monday, June 24 report. Morgan Stanley maintained the stock with “Equal-Weight” rating in Friday, August 2 report.

More notable recent Fortinet, Inc. (NASDAQ:FTNT) news were published by: Nasdaq.com which released: “Currency War, Amazon Dips, TTWO Climbs, Disney Earnings & Why Fortinet (FTNT) Stock is a Strong Buy | Free Lunch – Nasdaq” on August 06, 2019, also Nasdaq.com with their article: “ANSYS (ANSS) Q2 Earnings Grow & Beat Estimates, View Raised – Nasdaq” published on August 06, 2019, Nasdaq.com published: “Fortinet Breaks Above 200-Day Moving Average – Bullish for FTNT – Nasdaq” on July 09, 2019. More interesting news about Fortinet, Inc. (NASDAQ:FTNT) were released by: Finance.Yahoo.com and their article: “Have Insiders Been Selling Fortinet, Inc. (NASDAQ:FTNT) Shares? – Yahoo Finance” published on June 04, 2019 as well as Benzinga.com‘s news article titled: “38 Technology Stocks Moving In Thursday’s After-Market Session – Benzinga” with publication date: August 02, 2019.

Fortinet, Inc. (NASDAQ:FTNT) Ratings Chart

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