The stock of Fortinet Inc (FTNT) has gone up by 3.20% for the week, with a -7.90% drop in the past month and a -10.99% drop in the past quarter. The volatility ratio for the week is 2.08%, and the volatility levels for the past 30 days are 3.13% for FTNT.. The simple moving average for the past 20 days is -2.53% for FTNT’s stock, with a -18.57% simple moving average for the past 200 days.

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

The price-to-earnings ratio for Fortinet Inc (NASDAQ: FTNT) is above average at 35.77x, while the 36-month beta value is 1.07.Analysts have differing opinions on the stock, with 14 analysts rating it as a “buy,” 5 as “overweight,” 21 as “hold,” and 0 as “sell.”

The average price point forecasted by analysts for Fortinet Inc (FTNT) is $56.51, which is $4.6 above the current market price. The public float for FTNT is 637.40M, and currently, short sellers hold a 1.78% ratio of that floaft. The average trading volume of FTNT on November 21, 2023 was 6.52M shares.

FTNT) stock’s latest price update

Fortinet Inc (NASDAQ: FTNT) has experienced a rise in its stock price by 1.27 compared to its previous closing price of 51.26. However, the company has seen a gain of 3.20% in its stock price over the last five trading days. Zacks Investment Research reported 2023-11-20 that Finding stocks expected to beat quarterly earnings estimates becomes an easier task with our Zacks Earnings ESP.

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 -8.77% 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 -36.10% of loss for the given period.

Volatility was left at 3.13%, however, over the last 30 days, the volatility rate increased by 2.08%, as shares sank -7.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.22% lower at present.

During the last 5 trading sessions, FTNT rose by +3.20%, which changed the moving average for the period of 200-days by -2.06% in comparison to the 20-day moving average, which settled at $53.05. In addition, Fortinet Inc saw 6.18% 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 5,100 shares at the price of $51.00 back on Nov 17. After this action, Jensen Keith now owns 4,586 shares of Fortinet Inc, valued at $260,076 using the latest closing price.

Perche Patrice, the Chief Revenue Off./EVP Supp. of Fortinet Inc, sale 8,918 shares at $50.26 during a trade that took place back on Nov 03, which means that Perche Patrice is holding 25,730 shares at $448,229 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 7.39, 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.

Conclusion

In a nutshell, Fortinet Inc (FTNT) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.