Barclays Maintains a Hold Rating on Fortinet (FTNT)

By Austin Angelo

Barclays analyst Saket Kalia maintained a Hold rating on Fortinet (FTNTResearch Report) on August 2 and set a price target of $99. The company’s shares closed on Friday at $86.05.

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 11.8% and a 55.5% success rate. Kalia covers the Technology sector, focusing on stocks such as CyberArk Software, SecureWorks Corp, and Varonis Systems.

Currently, the analyst consensus on Fortinet is a Moderate Buy with an average price target of $95.25, which is a 10.7% upside from current levels. In a report issued on August 2, Robert W. Baird also maintained a Hold rating on the stock with a $100 price target.

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The company has a one-year high of $96.96 and a one-year low of $64.41. Currently, Fortinet has an average volume of 1.64M.

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Fortinet, Inc. provides cybersecurity solutions to variety of business, such as enterprises, communication service providers and small businesses. It operates through the following segments Network Security, Fortinet Security Fabric, Cloud Security and Internet of Things and Operational Technology.