In the past week, FTNT stock has gone up by 2.65%, with a monthly gain of 21.07% and a quarterly surge of 23.47%. The volatility ratio for the week is 2.44%, and the volatility levels for the last 30 days are 3.12% for Fortinet Inc The simple moving average for the past 20 days is 3.96% for FTNT’s stock, with a 35.64% simple moving average for the past 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 48.01x, Company’s 36-month beta value is 1.00.Analysts have differing opinions on the stock, with 9 analysts rating it as a “buy,” 7 as “overweight,” 25 as “hold,” and 1 as “sell.”
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The public float for FTNT is 632.08M, and currently, short sellers hold a 2.00% ratio of that floaft. The average trading volume of FTNT on December 02, 2024 was 4.70M shares.
FTNT) stock’s latest price update
Fortinet Inc (NASDAQ: FTNT)’s stock price has soared by 0.19 in relation to previous closing price of 95.05. Nevertheless, the company has seen a gain of 2.65% in its stock price over the last five trading days. Zacks Investment Research reported 2024-08-21 that Fortinet (FTNT) announces that it has been chosen as the official cybersecurity partner for Juventus Football Club for the next two seasons.
Analysts’ Opinion of FTNT
Many brokerage firms have already submitted their reports for FTNT stocks, with BMO Capital Markets repeating the rating for FTNT by listing it as a “Market Perform.” The predicted price for FTNT in the upcoming period, according to BMO Capital Markets is $100 based on the research report published on November 19, 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 $111, previously predicting the price at $83. The rating they have provided for FTNT stocks is “Buy” according to the report published on November 11th, 2024.
Mizuho gave a rating of “Underperform” to FTNT, setting the target price at $68 in the report published on October 17th of the current year.
FTNT Trading at 12.90% 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 -5.33% of loss for the given period.
Volatility was left at 3.12%, however, over the last 30 days, the volatility rate increased by 2.44%, as shares surge +21.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.19% upper at present.
During the last 5 trading sessions, FTNT rose by +2.78%, which changed the moving average for the period of 200-days by +35.71% in comparison to the 20-day moving average, which settled at $91.61. In addition, Fortinet Inc saw 62.71% 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 Jensen Keith, who sale 17,650 shares at the price of $95.66 back on Nov 26 ’24. After this action, Jensen Keith now owns 4,689 shares of Fortinet Inc, valued at $1,688,337 using the latest closing price.
Jensen Keith, the Chief Financial Officer of Fortinet Inc, sale 4,250 shares at $90.83 during a trade that took place back on Nov 19 ’24, which means that Jensen Keith is holding 4,689 shares at $386,013 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 1.47 billion with net debt to EBITDA at -0.79. When we switch over and look at the enterprise to sales, we see a ratio of 12.52. 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
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.
