The stock of Fortinet Inc (FTNT) has seen a 0.03% increase in the past week, with a 7.91% gain in the past month, and a 43.00% flourish in the past quarter. The volatility ratio for the week is 1.75%, and the volatility levels for the past 30 days are at 1.97% for FTNT. The simple moving average for the last 20 days is 4.31% for FTNT’s stock, with a simple moving average of 23.86% for the last 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 48.96x, 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 2.06% ratio of that floaft. The average trading volume of FTNT on October 21, 2024 was 5.02M shares.
FTNT) stock’s latest price update
Fortinet Inc (NASDAQ: FTNT)’s stock price has gone rise by 2.20 in comparison to its previous close of 81.07, however, the company has experienced a 0.03% increase in its stock price over the last five trading days. cnbc.com reported 2024-10-20 that TipRanks’ analyst ranking service pinpoints Wall Street’s best-performing stocks, including Nvidia and Fortinet.
Analysts’ Opinion of FTNT
Many brokerage firms have already submitted their reports for FTNT stocks, with Mizuho repeating the rating for FTNT by listing it as a “Underperform.” The predicted price for FTNT in the upcoming period, according to Mizuho is $68 based on the research report published on October 17, 2024 of the current year 2024.
DZ Bank, on the other hand, stated in their research note that they expect to see FTNT reach a price target of $65. The rating they have provided for FTNT stocks is “Hold” according to the report published on August 08th, 2024.
HSBC Securities gave a rating of “Hold” to FTNT, setting the target price at $59 in the report published on August 07th of the current year.
FTNT Trading at 7.75% 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 -1.09% of loss for the given period.
Volatility was left at 1.97%, however, over the last 30 days, the volatility rate increased by 1.75%, as shares surge +7.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +18.90% upper at present.
During the last 5 trading sessions, FTNT rose by +0.04%, which changed the moving average for the period of 200-days by +41.91% in comparison to the 20-day moving average, which settled at $79.43. In addition, Fortinet Inc saw 41.56% 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 23,302 shares at the price of $82.63 back on Oct 15 ’24. After this action, Xie Ken now owns 48,897,171 shares of Fortinet Inc, valued at $1,925,547 using the latest closing price.
Xie Ken, the PRESIDENT & CEO of Fortinet Inc, sale 23,307 shares at $81.89 during a trade that took place back on Oct 16 ’24, which means that Xie Ken is holding 48,915,530 shares at $1,908,676 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 11.19. 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.
