Does Fortinet Inc (NASDAQ:FTNT) Have Gas After Even Less Sellers Involved?

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 6.54M 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 1.33 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 the stock with “Sell” rating in Friday, August 2 report. The stock of Fortinet, Inc. (NASDAQ:FTNT) has “Equal-Weight” rating given on Friday, August 2 by Morgan Stanley. J.P. Morgan upgraded the shares of FTNT in report on Monday, June 24 to “Buy” rating. The company was maintained on Tuesday, April 16 by Stifel Nicolaus. The firm has “Hold” rating by Mizuho given on Tuesday, March 26.

More notable recent Fortinet, Inc. (NASDAQ:FTNT) news were published by: Finance.Yahoo.com which released: “Have Insiders Been Selling Fortinet, Inc. (NASDAQ:FTNT) Shares? – Yahoo Finance” on June 04, 2019, also Nasdaq.com with their article: “Fortinet Boosts Guidance Despite Escalating Trade War – Nasdaq” published on August 02, 2019, Nasdaq.com published: “S&P 500 Movers: FTNT, MYL – Nasdaq” on July 29, 2019. More interesting news about Fortinet, Inc. (NASDAQ:FTNT) were released by: Nasdaq.com and their article: “Currency War, Amazon Dips, TTWO Climbs, Disney Earnings & Why Fortinet (FTNT) Stock is a Strong Buy | Free Lunch – Nasdaq” published on August 06, 2019 as well as Seekingalpha.com‘s news article titled: “Fortinet, Inc. 2019 Q2 – Results – Earnings Call Slides – Seeking Alpha” with publication date: August 02, 2019.

Fortinet, Inc. (NASDAQ:FTNT) Ratings Chart

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