Fortinet Inc (NASDAQ: FTNT) has a price-to-earnings ratio that is above its average at 43.70x. The stock has a 36-month beta value of 1.08. Opinions on the stock are mixed, with 15 analysts rating it as a “buy,” 6 as “overweight,” 7 as “hold,” and 2 as “sell.”
The public float for FTNT is 629.15M, and at present, short sellers hold a 2.10% of that float. On April 23, 2024, the average trading volume of FTNT was 5.88M shares.
FTNT) stock’s latest price update
Fortinet Inc (NASDAQ: FTNT)’s stock price has gone rise by 0.46 in comparison to its previous close of 63.40, however, the company has experienced a -1.61% decrease in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-22 that Fortinet (FTNT) closed at $63.13 in the latest trading session, marking a -0.43% move from the prior day.
FTNT’s Market Performance
FTNT’s stock has fallen by -1.61% in the past week, with a monthly drop of -7.12% and a quarterly rise of 1.64%. The volatility ratio for the week is 2.19% while the volatility levels for the last 30 days are 2.80% for Fortinet Inc. The simple moving average for the past 20 days is -5.51% for FTNT’s stock, with a 1.31% simple moving average for the past 200 days.
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 -7.06% 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 -21.60% of loss for the given period.
Volatility was left at 2.80%, however, over the last 30 days, the volatility rate increased by 2.19%, as shares sank -6.75% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.13% lower at present.
During the last 5 trading sessions, FTNT fell by -1.61%, which changed the moving average for the period of 200-days by -14.68% in comparison to the 20-day moving average, which settled at $67.17. In addition, Fortinet Inc saw 8.82% 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 24,004 shares at the price of $64.88 back on Apr 17 ’24. After this action, Xie Ken now owns 48,678,310 shares of Fortinet Inc, valued at $1,557,362 using the latest closing price.
Xie Ken, the PRESIDENT & CEO of Fortinet Inc, sale 23,992 shares at $64.75 during a trade that took place back on Apr 16 ’24, which means that Xie Ken is holding 48,660,648 shares at $1,553,378 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 9.08. 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 sum up, Fortinet Inc (FTNT) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as 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.
