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A Lesson to Learn: Fortinet Inc. (FTNT)

Fortinet Inc. (NASDAQ:FTNT) went up by 2.52% from its latest closing price compared to the recent 1-year high of $71.52. The company’s stock price has collected 3.36% of gains in the last five trading sessions. Barron’s reported on 08/04/22 that Fortinet Stock Slumps on Cut to Service Revenue Guidance

Is It Worth Investing in Fortinet Inc. (NASDAQ :FTNT) Right Now?

Fortinet Inc. (NASDAQ:FTNT) scored a price-to-earnings ratio above its average ratio, recording 55.44 x from its present earnings ratio. Plus, the 36-month beta value for FTNT is at 1.14. Opinions of the stock are interesting as 20 analysts out of 33 who provided ratings for Fortinet Inc. declared the stock was a “buy,” while 5 rated the stock as “overweight,” 8 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $64.71, which is $13.97 above the current price. FTNT currently public float of 633.43M and currently shorts hold a 2.29% ratio of that float. Today, the average trading volume of FTNT was 5.33M shares.

FTNT’s Market Performance

FTNT stocks went up by 3.36% for the week, with a monthly jump of 0.08% and a quarterly performance of -2.09%, while its annual performance rate touched -17.19%. The volatility ratio for the week stands at 3.71% while the volatility levels for the past 30 days are set at 3.54% for Fortinet Inc. The simple moving average for the period of the last 20 days is 3.56% for FTNT stocks with a simple moving average of -7.56% for the last 200 days.

Analysts’ Opinion of FTNT

Many brokerage firms have already submitted their reports for FTNT stocks, with Scotiabank repeating the rating for FTNT by listing it as a “Sector Outperform.” The predicted price for FTNT in the upcoming period, according to Scotiabank is $65 based on the research report published on January 18th of the current year 2023.

Robert W. Baird gave a rating of “Outperform” to FTNT, setting the target price at $70 in the report published on October 19th of the previous year.

FTNT Trading at -1.43% from the 50-Day Moving Average

After a stumble in the market that brought FTNT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -29.37% of loss for the given period.

Volatility was left at 3.54%, however, over the last 30 days, the volatility rate increased by 3.71%, as shares surge +1.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.18% lower at present.

During the last 5 trading sessions, FTNT rose by +3.36%, which changed the moving average for the period of 200-days by -26.13% in comparison to the 20-day moving average, which settled at $48.80. In addition, Fortinet Inc. saw 3.31% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at FTNT starting from Jensen Keith, who sale 200 shares at the price of $55.60 back on Nov 18. After this action, Jensen Keith now owns 10,920 shares of Fortinet Inc., valued at $11,120 using the latest closing price.

Jensen Keith, the CFO & Chief Accounting Officer of Fortinet Inc., sale 50 shares at $53.46 during a trade that took place back on Nov 17, which means that Jensen Keith is holding 11,120 shares at $2,673 based on the most recent closing price.

Stock Fundamentals for FTNT

Current profitability levels for the company are sitting at:

  • +19.32 for the present operating margin
  • +76.02 for the gross margin

The net margin for Fortinet Inc. stands at +18.16.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.55.

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