Fortinet, Inc. (FTNT) Is At $65.08 Formed Wedge; Ikonics (IKNX) Shorts Lowered By 30%

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Fortinet, Inc. (FTNT) formed wedge up with $68.33 target or 5.00% above today’s $65.08 share price. Fortinet, Inc. (FTNT) has $10.94B valuation. The stock increased 1.18% or $0.76 during the last trading session, reaching $65.08. About 1.07M shares traded. Fortinet, Inc. (NASDAQ:FTNT) has risen 52.26% since June 21, 2017 and is uptrending. It has outperformed by 39.69% the S&P500. Some Historical FTNT News: ; 03/05/2018 – FORTINET 1Q ADJ EPS 33C, EST. 24C; 15/03/2018 – Fortinet Receives Recommended Rating in NSS Labs Data Center Intrusion Prevention System Test Report; 17/04/2018 – Fortinet Receives Recommended Rating in NSS Labs Latest Advanced Endpoint Protection Test Report; 03/05/2018 – FORTINET INC FTNT.O FY2018 SHR VIEW $1.42, REV VIEW $1.71 BLN — THOMSON REUTERS l/B/E/S; 13/04/2018 – Fortinet Presenting at RSA Conference Apr 18; 03/05/2018 – FORTINET 1Q REV. $399.0M, EST. $390.4M; 15/05/2018 – BLUE HARBOUR ADDED FTNT, JACK IN 1Q: 13F; 03/05/2018 – Fortinet 1Q Rev $399M; 17/04/2018 – Fortinet Now Part of IBM Security’s New X-Force Threat Management Services; 09/05/2018 – CSPi Recognized as a Top 10 Fortinet Solution Provider by Leading Security Publication

Ikonics Corporation (NASDAQ:IKNX) had a decrease of 30% in short interest. IKNX’s SI was 700 shares in June as released by FINRA. Its down 30% from 1,000 shares previously. With 2,100 avg volume, 0 days are for Ikonics Corporation (NASDAQ:IKNX)’s short sellers to cover IKNX’s short positions. The SI to Ikonics Corporation’s float is 0.06%. The stock increased 0.67% or $0.07 during the last trading session, reaching $10.5. About 6,750 shares traded or 29.29% up from the average. IKONICS Corporation (NASDAQ:IKNX) has declined 6.57% since June 21, 2017 and is downtrending. It has underperformed by 19.14% the S&P500.

Analysts await Fortinet, Inc. (NASDAQ:FTNT) to report earnings on July, 25. They expect $0.18 EPS, up 28.57% or $0.04 from last year’s $0.14 per share. FTNT’s profit will be $30.26M for 90.39 P/E if the $0.18 EPS becomes a reality. After $0.17 actual EPS reported by Fortinet, Inc. for the previous quarter, Wall Street now forecasts 5.88% EPS growth.

Among 36 analysts covering Fortinet Inc. (NASDAQ:FTNT), 20 have Buy rating, 1 Sell and 15 Hold. Therefore 56% are positive. Fortinet Inc. had 132 analyst reports since July 23, 2015 according to SRatingsIntel. The stock has “Buy” rating by Nomura on Wednesday, October 12. Oppenheimer maintained Fortinet, Inc. (NASDAQ:FTNT) rating on Wednesday, June 21. Oppenheimer has “Buy” rating and $4500 target. The rating was maintained by Robert W. Baird with “Buy” on Thursday, January 11. The rating was maintained by Piper Jaffray on Friday, August 25 with “Buy”. The company was maintained on Wednesday, October 12 by JMP Securities. On Tuesday, November 15 the stock rating was upgraded by Morgan Stanley to “Overweight”. Wunderlich reinitiated it with “Buy” rating and $45 target in Tuesday, September 13 report. On Wednesday, October 12 the stock rating was maintained by Barclays Capital with “Overweight”. Stifel Nicolaus maintained Fortinet, Inc. (NASDAQ:FTNT) rating on Tuesday, February 6. Stifel Nicolaus has “Hold” rating and $46 target. Dougherty & Company maintained Fortinet, Inc. (NASDAQ:FTNT) on Wednesday, October 12 with “Buy” rating.

Since February 26, 2018, it had 1 insider purchase, and 1 sale for $19,337 activity. On Monday, February 26 NERGES JOSEPH R sold $39,961 worth of IKONICS Corporation (NASDAQ:IKNX) or 3,753 shares.

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