Fortinet Inc (NASDAQ: FTNT) has a price-to-earnings ratio that is above its average at 46.58x. The stock has a 36-month beta value of 0.96. 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 630.88M, and at present, short sellers hold a 2.05% of that float. On November 05, 2024, the average trading volume of FTNT was 4.76M shares.
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FTNT) stock’s latest price update
Fortinet Inc (NASDAQ: FTNT)’s stock price has plunge by 0.05relation to previous closing price of 78.80. Nevertheless, the company has seen a -2.37% plunge in its stock price over the last five trading sessions. zacks.com reported 2024-11-04 that Get a deeper insight into the potential performance of Fortinet (FTNT) for the quarter ended September 2024 by going beyond Wall Street’s top -and-bottom-line estimates and examining the estimates for some of its key metrics.
FTNT’s Market Performance
Fortinet Inc (FTNT) has seen a -2.37% fall in stock performance for the week, with a 1.06% gain in the past month and a 41.26% surge in the past quarter. The volatility ratio for the week is 1.98%, and the volatility levels for the past 30 days are at 2.01% for FTNT. The simple moving average for the past 20 days is -2.30% for FTNT’s stock, with a 16.22% simple moving average for the past 200 days.
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 0.94% 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 -5.88% of loss for the given period.
Volatility was left at 2.01%, however, over the last 30 days, the volatility rate increased by 1.98%, as shares surge +1.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.50% upper at present.
During the last 5 trading sessions, FTNT fell by -2.37%, which changed the moving average for the period of 200-days by +29.46% in comparison to the 20-day moving average, which settled at $80.70. In addition, Fortinet Inc saw 34.70% 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 MICHAEL XIE, who proposed sale 24,712 shares at the price of $78.80 back on Nov 04 ’24. After this action, MICHAEL XIE now owns shares of Fortinet Inc, valued at $1,947,306 using the latest closing price.
Xie Ken, the PRESIDENT & CEO of Fortinet Inc, sale 23,302 shares at $82.63 during a trade that took place back on Oct 15 ’24, which means that Xie Ken is holding 48,897,171 shares at $1,925,547 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 10.67. 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
To sum up, Fortinet Inc (FTNT) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
