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Fintel reports that on April 20, 2023, Jefferies maintained coverage of Fortinet (NASDAQ:FTNT) with a Buy recommendation.
Analyst Price Forecast Suggests 8.06% Upside
As of April 6, 2023, the average one-year price target for Fortinet is $72.75. The forecasts range from a low of $62.62 to a high of $89.25. The average price target represents an increase of 8.06% from its latest reported closing price of $67.32.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fortinet is $5,501MM, an increase of 24.53%. The projected annual non-GAAP EPS is $1.43.
What are Other Shareholders Doing?
DEUTSCHE DWS VARIABLE SERIES II – DWS Global Income Builder VIP holds 1K shares representing 0.00% ownership of the company.
Crewe Advisors holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.
RMQHX – Monthly Rebalance NASDAQ-100 2x Strategy Fund Class H holds 13K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 18K shares, representing a decrease of 38.06%. The firm decreased its portfolio allocation in FTNT by 6.17% over the last quarter.
Cavalier Investments holds 12K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 13K shares, representing a decrease of 6.47%. The firm decreased its portfolio allocation in FTNT by 99.91% over the last quarter.
BlackRock Series Fund, Inc. – BlackRock Advantage Large Cap Core Portfolio holds 1K shares representing 0.00% ownership of the company.
What is the Fund Sentiment?
There are 1816 funds or institutions reporting positions in Fortinet. This is a decrease of 1 owner(s) or 0.06% in the last quarter. Average portfolio weight of all funds dedicated to FTNT is 0.35%, a decrease of 3.33%. Total shares owned by institutions increased in the last three months by 2.00% to 580,136K shares. 
The put/call ratio of FTNT is 0.66, indicating a bullish outlook.
Fortinet Background Information
(This description is provided by the company.)
Fortinet secures the largest enterprise, service provider, and government organizations around the world. Fortinet empowers its customers with complete visibility and control across the expanding attack surface and the power to take on ever-increasing performance requirements today and into the future. Only the Fortinet Security Fabric platform can address the most critical security challenges and protect data across the entire digital infrastructure, whether in networked, application, multi-cloud or edge environments. Fortinet ranks #1 in the most security appliances shipped worldwide and more than 500,000 customers trust Fortinet to protect their businesses. Both a technology company and a learning organization, the Fortinet Network Security Expert (NSE) Training Institute has one of the largest and broadest cybersecurity training programs in the industry.
See all Fortinet regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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