Fortinet Inc (NASDAQ: FTNT) has seen a rise in its stock price by 0.36 in relation to its previous close of 78.01. However, the company has experienced a 0.95% gain in its stock price over the last five trading sessions. globenewswire.com reported 2024-10-04 that Fortinet named a Leader in the 2024 Gartner Magic Quadrant for SD-WAN for the fifth year in a row Fortinet named a Leader in the 2024 Gartner Magic Quadrant for SD-WAN for the fifth year in a row
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 46.26x, Company’s 36-month beta value is 1.00.Analysts have differing opinions on the stock, with 15 analysts rating it as a “buy,” 6 as “overweight,” 7 as “hold,” and 2 as “sell.”
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The public float for FTNT is 630.92M, and currently, short sellers hold a 2.30% ratio of that floaft. The average trading volume of FTNT on October 07, 2024 was 5.11M shares.
FTNT’s Market Performance
FTNT’s stock has seen a 0.95% increase for the week, with a 4.17% rise in the past month and a 29.87% gain in the past quarter. The volatility ratio for the week is 2.02%, and the volatility levels for the past 30 days are at 2.06% for Fortinet Inc The simple moving average for the past 20 days is 2.39% for FTNT’s stock, with a 19.25% simple moving average for the past 200 days.
Analysts’ Opinion of FTNT
Many brokerage firms have already submitted their reports for FTNT stocks, with DZ Bank repeating the rating for FTNT by listing it as a “Hold.” The predicted price for FTNT in the upcoming period, according to DZ Bank is $65 based on the research report published on August 08, 2024 of the current year 2024.
HSBC Securities, on the other hand, stated in their research note that they expect to see FTNT reach a price target of $59. The rating they have provided for FTNT stocks is “Hold” according to the report published on August 07th, 2024.
FTNT Trading at 8.29% 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 -0.27% of loss for the given period.
Volatility was left at 2.06%, however, over the last 30 days, the volatility rate increased by 2.02%, as shares surge +4.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +37.30% upper at present.
During the last 5 trading sessions, FTNT rose by +0.92%, which changed the moving average for the period of 200-days by +35.49% in comparison to the 20-day moving average, which settled at $76.62. In addition, Fortinet Inc saw 33.76% 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 23,511 shares at the price of $75.75 back on Sep 17 ’24. After this action, Xie Ken now owns 48,860,677 shares of Fortinet Inc, valued at $1,780,963 using the latest closing price.
Xie Ken, the PRESIDENT & CEO of Fortinet Inc, sale 23,538 shares at $74.94 during a trade that took place back on Sep 18 ’24, which means that Xie Ken is holding 48,878,806 shares at $1,763,844 based on the most recent closing price.
Stock Fundamentals for FTNT
Current profitability levels for the company are sitting at:
- 0.26 for the present operating margin
- 0.78 for the gross margin
The net margin for Fortinet Inc stands at 0.24. The total capital return value is set at 0.33. Equity return is now at value 430.88, with 16.90 for asset returns.
Based on Fortinet Inc (FTNT), the company’s capital structure generated 0.78 points at debt to capital in total, while cash flow to debt ratio is standing at 1.93. The debt to equity ratio resting at 3.45. The interest coverage ratio of the stock is 143.04.
Currently, EBITDA for the company is 1.35 billion with net debt to EBITDA at -0.78. When we switch over and look at the enterprise to sales, we see a ratio of 10.61. The receivables turnover for the company is 5.11for trailing twelve months and the total asset turnover is 0.69. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.32.
Conclusion
In a nutshell, Fortinet Inc (FTNT) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
