Fortinet Inc Surpasses Analyst Price Target: What’s Next for Investors?
Recently, Fortinet Inc (Symbol: FTNT) shares have moved past the average analyst target price of $96.97, trading at $97.47 per share. When a stock hits an analyst’s target, they typically have two choices: either downgrade their valuation or raise their price estimate. Their decision often hinges on the company’s performance—if things appear positive, a price increase might be warranted.
Analyst Opinions Range Widely
Currently, 32 analysts contribute to the price target for Fortinet Inc within the Zacks coverage universe. While the average target is $96.97, individual targets vary significantly. One analyst predicts a price as low as $65.00, while another forecasts a high of $115.00. The standard deviation stands at $11.295, indicating a range of opinions.
Insight from Collective Analyst Views
The significance of the average FTNT price target lies in leveraging the “wisdom of crowds” approach, reflecting a broad consensus rather than the viewpoint of a sole analyst. With FTNT’s stock exceeding the average target price of $96.97 per share, investors now face a key decision: is this just a pause before reaching higher values, or have valuations become excessive enough to warrant profit-taking?
Current Analyst Ratings for Fortinet Inc
| Recent FTNT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 13 | 12 | 12 | 12 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 22 | 23 | 22 | 23 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 0 |
| Average rating: | 2.32 | 2.38 | 2.36 | 2.31 |
The average rating reflects a scale from 1 to 5, where 1 indicates a Strong Buy and 5 a Strong Sell. This data comes from Zacks Investment Research, provided through Quandl.com. For the latest Zacks research report on FTNT — at no cost.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
