[Market Wired] Fortinet Inc (NASDAQ:FTNT)(TREND ANALYSIS) the global leader in high-performance cyber security solutions, today announced that three of its channel marketing leaders: Krissy Kelley, senior director of Partner Programs, Jennifer McDonald, director of Partner Marketing, and Michelle Patterson, director of Field and Channel Marketing, have been named to The Channel Company’s prestigious 2015 CRN® Women of the Channel. The annual list honors outstanding female executives across vendor channel organizations, distributors, solution providers and other women prominently involved in the IT channel ecosystem for their successes and the far-reaching impact they are having on the technology industry going forward.
This year’s Women of the Channel were carefully reviewed and selected by the editors of CRN based on their accomplishments and the influence they wield over the technology channel.
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Fortinet Inc (NASDAQ:FTNT) stock is currently trading 1.76% below its 52-week-high, 81.08% above its 52-week-low. The 1-year stock price history is in the range of $22.51 – $41.49. Fortinet Inc (FTNT) has a price to earnings ratio of 370.55 versus Technology sector average of 24.67. FTNT stock price has outperformed the Nasdaq by 28.3%. The Networking Products company is currently valued at $6.91 billion and its share price closed the last trading session at $40.76. The stock has a 50-day moving average of $38.86 and a 200-day moving average of $33.63.
Fortinet Inc (FTNT) current short interest stands at 5.41 million shares. It has increased by 1% from the same period of last month. Around 4% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.23 million shares, the number of days required to cover the short positions stand at 4.5 days.
The company is expected to announce next quarter earnings on July 22, at consensus estimate of $0.01. Fortinet Inc (FTNT) reported last quarter earnings on April 20. The Networking Products company announced earnings per share of $0.01 against a consensus Street estimate of $0, beating the average estimate by $0.01. This corresponds to a decrease of $0.05 compared to the same quarter of the previous fiscal year.
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There are currently thirty-one analysts that cover Fortinet Inc stock. Of those thirty-one, twenty-one have a Buy rating, ten have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $41.24.
A recent analyst activity consisted of Wunderlich who initiated their coverage on the stock with Buy rating on June 9. Wunderlich fixed their price target at $48. This corresponds to a 17.76% upside from the last closing price. On the date of report, the stock closed at $40.76.
Guggenheim Securities initiated their coverage on the stock with Neutral rating on June 2. On the date of report, the stock closed at $39.73.
Another research firm was Needham who upgraded their Hold rating to Buy on May 26. Needham fixed their price target at $48. This translates to a 17.76% upside from the last closing price. On the date of report, the stock closed at $39.29.
Fortinet Inc. provides network security solutions. The Company offers network security appliances and related software, and subscription services. Fortinet systems integrate the industry’s broadest suite of security technologies, including firewall, VPN, antivirus, intrusion prevention (IPS), Web filtering, antispam, and traffic shaping.