The price-to-earnings ratio for Fortinet Inc (NASDAQ: FTNT) is 46.32x, which is above its average ratio. Moreover, the 36-month beta value for FTNT is 0.98. Analysts have varying opinions on the stock, with 15 analysts rating it as a “buy,” 7 as “overweight,” 25 as “hold,” and 2 as “sell.”
The public float for FTNT is 632.12M and currently, short sellers hold a 1.99% of that float. On November 19, 2024, FTNT’s average trading volume was 4.48M shares.
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FTNT) stock’s latest price update
The stock of Fortinet Inc (NASDAQ: FTNT) has decreased by -2.46 when compared to last closing price of 94.20. Despite this, the company has experienced a -5.45% fall in its stock price over the last five trading sessions. marketbeat.com reported 2024-11-18 that Cybersecurity is a big business and is getting bigger every day. Attacks are growing at an alarming double-digit pace and will accelerate in 2024.
FTNT’s Market Performance
Fortinet Inc (FTNT) has experienced a -5.45% fall in stock performance for the past week, with a 13.33% rise in the past month, and a 21.58% rise in the past quarter. The volatility ratio for the week is 3.84%, and the volatility levels for the past 30 days are at 2.99% for FTNT. The simple moving average for the last 20 days is 7.58% for FTNT stock, with a simple moving average of 32.96% for the last 200 days.
Analysts’ Opinion of FTNT
Many brokerage firms have already submitted their reports for FTNT stocks, with HSBC Securities repeating the rating for FTNT by listing it as a “Buy.” The predicted price for FTNT in the upcoming period, according to HSBC Securities is $111 based on the research report published on November 11, 2024 of the current year 2024.
Mizuho, on the other hand, stated in their research note that they expect to see FTNT reach a price target of $68. The rating they have provided for FTNT stocks is “Underperform” according to the report published on October 17th, 2024.
DZ Bank gave a rating of “Hold” to FTNT, setting the target price at $65 in the report published on August 08th of the current year.
FTNT Trading at 13.30% 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 -8.66% of loss for the given period.
Volatility was left at 2.99%, however, over the last 30 days, the volatility rate increased by 3.84%, as shares surge +11.98% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +22.34% upper at present.
During the last 5 trading sessions, FTNT fell by -5.45%, which changed the moving average for the period of 200-days by +38.29% in comparison to the 20-day moving average, which settled at $85.41. In addition, Fortinet Inc saw 56.98% 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 22,896 shares at the price of $99.03 back on Nov 13 ’24. After this action, Xie Ken now owns 48,964,933 shares of Fortinet Inc, valued at $2,267,322 using the latest closing price.
Xie Ken, the PRESIDENT & CEO of Fortinet Inc, sale 22,938 shares at $98.55 during a trade that took place back on Nov 12 ’24, which means that Xie Ken is holding 48,946,162 shares at $2,260,428 based on the most recent closing price.
Stock Fundamentals for FTNT
Current profitability levels for the company are sitting at:
- 0.28 for the present operating margin
- 0.8 for the gross margin
The net margin for Fortinet Inc stands at 0.27. The total capital return value is set at 0.32. Equity return is now at value 311.53, with 18.74 for asset returns.
Based on Fortinet Inc (FTNT), the company’s capital structure generated 0.52 points at debt to capital in total, while cash flow to debt ratio is standing at 1.98. The debt to equity ratio resting at 1.09. The interest coverage ratio of the stock is 78.65.
Currently, EBITDA for the company is 1.35 billion with net debt to EBITDA at -0.85. When we switch over and look at the enterprise to sales, we see a ratio of 12.07. The receivables turnover for the company is 5.47for trailing twelve months and the total asset turnover is 0.65. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.34.
Conclusion
To wrap up, the performance of Fortinet Inc (FTNT) has been better in recent times. The stock has received a mixed of “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.
