The stock of Fortinet Inc (FTNT) has gone down by -0.70% for the week, with a -1.87% drop in the past month and a 14.18% rise in the past quarter. The volatility ratio for the week is 2.29%, and the volatility levels for the past 30 days are 2.52% for FTNT. The simple moving average for the past 20 days is -2.09% for FTNT’s stock, with a 7.16% 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 46.53x, which is above its average ratio. Moreover, the 36-month beta value for FTNT is 1.08. Analysts have varying opinions on the stock, with 15 analysts rating it as a “buy,” 6 as “overweight,” 7 as “hold,” and 2 as “sell.”
The public float for FTNT is 629.20M and currently, short sellers hold a 2.11% of that float. On April 02, 2024, FTNT’s average trading volume was 6.18M shares.
FTNT) stock’s latest price update
Fortinet Inc (NASDAQ: FTNT)’s stock price has gone decline by -0.72 in comparison to its previous close of 68.31, however, the company has experienced a -0.70% decrease in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-01 that Fortinet (FTNT) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock’s prospects.
Analysts’ Opinion of FTNT
Many brokerage firms have already submitted their reports for FTNT stocks, with Daiwa Securities repeating the rating for FTNT by listing it as a “Outperform.” The predicted price for FTNT in the upcoming period, according to Daiwa Securities is $75 based on the research report published on February 13, 2024 of the current year 2024.
HSBC Securities gave a rating of “Reduce” to FTNT, setting the target price at $57 in the report published on February 07th of the current year.
FTNT Trading at -0.24% 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 -16.52% of loss for the given period.
Volatility was left at 2.52%, however, over the last 30 days, the volatility rate increased by 2.29%, as shares sank -3.72% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.44% upper at present.
During the last 5 trading sessions, FTNT fell by -0.70%, which changed the moving average for the period of 200-days by -3.79% in comparison to the 20-day moving average, which settled at $69.14. In addition, Fortinet Inc saw 15.87% 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 Xie Ken, who sale 23,699 shares at the price of $70.75 back on Mar 13 ’24. After this action, Xie Ken now owns 48,642,973 shares of Fortinet Inc, valued at $1,676,724 using the latest closing price.
Xie Ken, the PRESIDENT & CEO of Fortinet Inc, sale 23,694 shares at $71.40 during a trade that took place back on Mar 12 ’24, which means that Xie Ken is holding 48,625,005 shares at $1,691,692 based on the most recent closing price.
Stock Fundamentals for FTNT
Current profitability levels for the company are sitting at:
- 0.23 for the present operating margin
- 0.77 for the gross margin
The net margin for Fortinet Inc stands at 0.22. The total capital return value is set at 0.35. Equity return is now at value 843.82, with 17.02 for asset returns.
Based on Fortinet Inc (FTNT), the company’s capital structure generated 1.82 points at debt to capital in total, while cash flow to debt ratio is standing at 1.89. The debt to equity ratio resting at -2.21. The interest coverage ratio of the stock is 121.68.
Currently, EBITDA for the company is 1.35 billion with net debt to EBITDA at -0.29. When we switch over and look at the enterprise to sales, we see a ratio of 9.68. The receivables turnover for the company is 3.78for trailing twelve months and the total asset turnover is 0.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.19.
Conclusion
To wrap up, the performance of Fortinet Inc (FTNT) has been mixed in recent times. The stock has received a mixed of “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.
