Fortinet Inc (NASDAQ: FTNT) has a higher price-to-earnings ratio of 34.74x compared to its average ratio,, and the 36-month beta value for FTNT is at 1.07. Analysts have varying views on the stock, with 14 analysts rating it as a “buy,” 4 rating it as “overweight,” 21 as “hold,” and 0 as “sell.”
The average price suggested by analysts for FTNT is $56.56, which is $6.14 above the current market price. The public float for FTNT is 637.35M, and currently, shorts hold a 1.78% of that float. The average trading volume for FTNT on November 17, 2023 was 6.45M shares.
FTNT) stock’s latest price update
The stock of Fortinet Inc (NASDAQ: FTNT) has decreased by -1.25 when compared to last closing price of 51.06. Despite this, the company has experienced a 1.51% gain in its stock price over the last five trading sessions. InvestorPlace reported 2023-11-16 that Undervalued growth stocks give investors a greater margin of safety. This margin of safety can help investors ride market corrections and generate significant upside during market rallies.
FTNT’s Market Performance
FTNT’s stock has risen by 1.51% in the past week, with a monthly drop of -12.57% and a quarterly drop of -11.79%. The volatility ratio for the week is 2.15% while the volatility levels for the last 30 days are 3.21% for Fortinet Inc The simple moving average for the last 20 days is -6.42% for FTNT stock, with a simple moving average of -20.94% for the last 200 days.
Analysts’ Opinion of FTNT
Many brokerage firms have already submitted their reports for FTNT stocks, with HSBC Securities repeating the rating for FTNT by listing it as a “Hold.” The predicted price for FTNT in the upcoming period, according to HSBC Securities is $49 based on the research report published on November 06, 2023 of the current year 2023.
FTNT Trading at -12.18% 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 -37.94% of loss for the given period.
Volatility was left at 3.21%, however, over the last 30 days, the volatility rate increased by 2.15%, as shares sank -12.72% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.18% lower at present.
During the last 5 trading sessions, FTNT rose by +1.51%, which changed the moving average for the period of 200-days by -5.03% in comparison to the 20-day moving average, which settled at $53.51. In addition, Fortinet Inc saw 3.13% in overturn over a single year, with a tendency to cut further gains.
Reports are indicating that there were more than several insider trading activities at FTNT starting from Perche Patrice, who sale 8,918 shares at the price of $50.26 back on Nov 03. After this action, Perche Patrice now owns 25,730 shares of Fortinet Inc, valued at $448,229 using the latest closing price.
Perche Patrice, the Chief Revenue Off./EVP Supp. of Fortinet Inc, sale 7,535 shares at $56.13 during a trade that took place back on Oct 23, which means that Perche Patrice is holding 25,730 shares at $422,943 based on the most recent closing price.
Stock Fundamentals for FTNT
Current profitability levels for the company are sitting at:
- +21.85 for the present operating margin
- +74.91 for the gross margin
The net margin for Fortinet Inc stands at +19.41. The total capital return value is set at 72.61, while invested capital returns managed to touch 66.41. Equity return is now at value 843.82, with 17.96 for asset returns.
When we switch over and look at the enterprise to sales, we see a ratio of 7.36, with the company’s debt to enterprise value settled at 0.03. The receivables turnover for the company is 4.27 and the total asset turnover is 0.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.24.
In conclusion, Fortinet Inc (FTNT) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.