Fortinet Inc [FTNT] stock is trading at $56.64, down -2.24%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The FTNT shares have lost -4.18% over the last week, with a monthly amount drifted -2.81%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Fortinet Inc [NASDAQ: FTNT] stock has seen the most recent analyst activity on July 18, 2024, when TD Cowen upgraded its rating to a Buy but kept the price target unchanged to $75 for it. Previously, Daiwa Securities upgraded its rating to Outperform on February 13, 2024, and kept the price target unchanged to $75. On February 08, 2024, downgrade downgraded it’s rating to Sell. HSBC Securities downgraded its rating to a Reduce but stick to its price target of $57 on February 07, 2024. Bernstein initiated its recommendation with a Mkt Perform and recommended $65 as its price target on January 18, 2024. Daiwa Securities downgraded its rating to Neutral for this stock on January 17, 2024, but kept the price target unchanged to $62. In a note dated January 17, 2024, CapitalOne downgraded an Equal Weight rating on this stock.
Fortinet Inc [FTNT] stock has fluctuated between $44.12 and $78.82 over the past year. Currently, Wall Street analysts expect the stock to reach $70.46 within the next 12 months. Fortinet Inc [NASDAQ: FTNT] shares were valued at $56.64 at the most recent close of the market. An investor can expect a potential return of 24.4% based on the average FTNT price forecast.
Analyzing the FTNT fundamentals
Fortinet Inc [NASDAQ:FTNT] reported sales of 5.40B for the trailing twelve months, which represents a growth of 7.21%. Gross Profit Margin for this corporation currently stands at 0.77% with Operating Profit Margin at 0.24%, Pretax Profit Margin comes in at 0.26%, and Net Profit Margin reading is 0.22%. To continue investigating profitability, this company’s Return on Assets is posted at 0.16, Equity is -23.33 and Total Capital is 0.33. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -7.22.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 55.87 points at the first support level, and at 55.11 for the second support level. However, for the 1st resistance point, the stock is sitting at 58.05, and for the 2nd resistance point, it is at 59.47.
Ratios To Look Out For
For context, Fortinet Inc’s Current Ratio is 1.20. As well, the Quick Ratio is 1.08, while the Cash Ratio is 0.51. Considering the valuation of this stock, the price to sales ratio is 8.02 and price to earnings (TTM) ratio is 36.93.
Transactions by insiders
Recent insider trading involved Xie Ken, PRESIDENT & CEO, that happened on Jul 16 ’24 when 24246.0 shares were sold. PRESIDENT & CEO, Xie Ken completed a deal on Jul 15 ’24 to sell 24267.0 shares. Meanwhile, PRESIDENT & CEO Xie Ken sold 24256.0 shares on Jun 12 ’24.
