A share price of Fortinet Inc [FTNT] is currently trading at $55.81, up 0.76%. An important factor to consider is whether the stock is rising or falling in short-term value. The FTNT shares have lost -2.94% over the last week, with a monthly amount drifted -7.15%, 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 29, 2024, when Guggenheim downgraded its rating to a Neutral. Previously, TD Cowen upgraded its rating to Buy on July 18, 2024, and kept the price target unchanged to $75. On February 13, 2024, upgrade upgraded it’s rating to Outperform but maintained its price target of $75 on the stock. DZ Bank downgraded its rating to a Sell. HSBC Securities downgraded its rating to a Reduce but $57 remained the price target by the analyst firm on February 07, 2024. Bernstein started tracking with a Mkt Perform rating for this stock on January 18, 2024, and assigned it a price target of $65. In a note dated January 17, 2024, Daiwa Securities downgraded an Neutral rating on this stock but restated the target price of $62.
Fortinet Inc experienced fluctuations in its stock price throughout the past year between $44.12 and $73.91. Currently, Wall Street analysts expect the stock to reach $69.86 within the next 12 months. Fortinet Inc [NASDAQ: FTNT] shares were valued at $55.81 at the most recent close of the market. An investor can expect a potential return of 25.17% based on the average FTNT price forecast.
Analyzing the FTNT fundamentals
Trailing Twelve Months sales for Fortinet Inc [NASDAQ:FTNT] were 5.40B which represents 7.21% growth. 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-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 55.05 points at the first support level, and at 54.29 for the second support level. However, for the 1st resistance point, the stock is sitting at 56.71, and for the 2nd resistance point, it is at 57.62.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Fortinet Inc [NASDAQ:FTNT] is 1.20. On the other hand, the Quick Ratio is 1.08, and the Cash Ratio is 0.51. Considering the valuation of this stock, the price to sales ratio is 7.90 and price to earnings (TTM) ratio is 36.39.
Transactions by insiders
Recent insider trading involved MICHAEL XIE, Director, that happened on Aug 02 ’24 when 24712.0 shares were purchased. VP, ENGINEERING & CTO, Xie Michael completed a deal on Aug 02 ’24 to sell 24712.0 shares. Meanwhile, PRESIDENT & CEO Xie Ken sold 24246.0 shares on Jul 16 ’24.
