Computer and Technology sector’s Fortinet’s (NASDAQ:FTNT) Buy rating Reiterated by Oppenheimer Holdings Inc.

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Fortinet (NASDAQ:FTNT)‘s stock had its Buy rating Reiterated by analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors. A price-to-earnings ratio of 62.78, market cap of 21.6B and a beta of 1.  Fortinet has a twelve month low $70.20 of  and a twelve month high of $149.69.

Shares of Fortinet traded down -$1.08 on Monday, reaching $133.47. 1484400 shares of the stock traded hands, compared to its average volume of 1682220. Shares of Fortinet at end of the day on Monday were at $133.47. The firm’s 50 day moving average is $129.87 and its 200 day moving average is 106.89.Fortinet  has a 12 month low of $128.31 and a 12 month high of $149.69. While on yearly highs and lows, Fortinet’s today has traded high as $134.40 and has touched $128.31 on the downward trend. See More Analyst Rating at: RATING

Fortinet (NASDAQ:FTNT) Moving Average Technical Analysis

5 day Moving Average is 134.66 And 5 day price change is -11.37 (-7.96%)  with average volume for 5 day average is 1,418,559. While technical analysis for average 20 days shows significant difference, 20 day moving average is  136.83 and 20 day price change is -13.25 (-9.15%) and average 20 day moving volume is 1,501,295. 50 day moving average is 129.87  and 50 day price change is 18.54 ( 0.1641)  and with average volume for 50 days is : 1,736,908. 200 day moving average is 106.89  and 200 day price change is 53.13 (0.6779)  and with average volume for 200 days is : 1,671,765.

See More Analyst Rating at: RATING

Fortinet Earnings and What to expect: 

Fortinet last released its earnings data on May 6th, 2020. The software maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.10. The firm earned $576.90 million during the quarter, compared to analyst estimates of $554.22 million. Its quarterly revenue was up 22.1% on a year-over-year basis. Fortinet has generated $1.91 earnings per share over the last year and currently has a price-to-earnings ratio of 61.7. Fortinet has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, August 6th, 2020 based off prior year’s report dates.

Earnings for Fortinet are expected to grow by 20.73% in the coming year, from $1.93 to $2.33 per share. The P/E ratio of Fortinet is 61.73, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 16.08. The P/E ratio of Fortinet is 61.73, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 41.51. Fortinet has a PEG Ratio of 4.98. PEG Ratios above 1 indicate that a company could be overvalued. Fortinet has a P/B Ratio of 17.09. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Latest Insiders Trading and Volume : 

  • Insider Ownership Percentage: 18.20%
  • On 5/26/2020 CFO Keith Jensen Sell 6,693 at average share price of $140.35 which equates to $939,362.55 in money value.
  • On 5/26/2020 VP Michael Xie Sell 30,000 at average price of  $140.17 with total value of : Not Data Available
  • On 5/21/2020 VP John Whittle Sell 700 at average price of  $144.83 with total value of : $101,381.00

What other brokers have to say about Fortinet :

  • 6/24/2020 – Fortinet had its price target raised by analysts at Monness Crespi & Hardt from $140.00 to $155.00. They now have a “buy” rating on the stock. ()
  • 6/24/2020 – Fortinet was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating. ()
  • 6/16/2020 – Fortinet had its price target raised by analysts at Piper Sandler from $125.00 to $146.00. They now have an “overweight” rating on the stock. ()
  • 6/9/2020 – Fortinet was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating. ()

Other firm’s rating by Oppenheimer Holdings Inc.:

  • 6/29/2020 – Global Payments had its price target raised by analysts at Oppenheimer Holdings Inc. from $190.00 to $202.00. They now have an “outperform” rating on the stock. ()
  • 6/29/2020 – Fidelity National Information Servcs had its price target raised by analysts at Oppenheimer Holdings Inc. from $145.00 to $161.00. They now have an “outperform” rating on the stock. ()
  • 6/29/2020 – Intercept Pharmaceuticals was downgraded by analysts at Oppenheimer Holdings Inc. from an “outperform” rating to a “market perform” rating. They now have a $46.00 price target on the stock, down previously from $124.00. ()
  • 6/29/2020 – Kaleyra is now covered by analysts at Oppenheimer Holdings Inc.. They set an “outperform” rating and a $12.00 price target on the stock. ()

See More Analyst Rating at: RATING