Fortinet Inc [FTNT] stock is trading at $77.13, up 0.55%. An important factor to consider is whether the stock is rising or falling in short-term value. The FTNT shares have gain 2.59% over the last week, with a monthly amount glided 36.49%, and 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 August 08, 2024, when DZ Bank upgraded its rating to a Hold but kept the price target unchanged to $65 for it. Previously, HSBC Securities upgraded its rating to Hold on August 07, 2024, and kept the price target unchanged to $59. On July 29, 2024, downgrade downgraded it’s rating to Neutral. TD Cowen upgraded its rating to a Buy but stick to its price target of $75 on July 18, 2024. Daiwa Securities upgraded its rating to a Outperform but $75 remained the price target by the analyst firm on February 13, 2024. DZ Bank downgraded its rating to Sell for this stock on February 08, 2024. In a note dated February 07, 2024, HSBC Securities downgraded an Reduce rating on this stock but restated the target price of $57.
Fortinet Inc [FTNT] stock has fluctuated between $44.12 and $77.18 over the past year. Currently, Wall Street analysts expect the stock to reach $70.35 within the next 12 months. Fortinet Inc [NASDAQ: FTNT] shares were valued at $77.13 at the most recent close of the market. An investor can expect a potential drop of -8.79% based on the average FTNT price forecast.
Analyzing the FTNT fundamentals
Fortinet Inc [NASDAQ:FTNT] reported sales of 5.54B for the trailing twelve months, which represents a growth of 10.95%. Gross Profit Margin for this corporation currently stands at 0.78% with Operating Profit Margin at 0.26%, Pretax Profit Margin comes in at 0.28%, and Net Profit Margin reading is 0.24%. To continue investigating profitability, this company’s Return on Assets is posted at 0.16, Equity is -22.01 and Total Capital is 0.33. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of3.45.
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 76.11 points at the first support level, and at 75.10 for the second support level. However, for the 1st resistance point, the stock is sitting at 78.11, and for the 2nd resistance point, it is at 79.10.
Ratios To Look Out For
For context, Fortinet Inc’s Current Ratio is 1.32. On the other hand, the Quick Ratio is 1.22, and the Cash Ratio is 0.59. Considering the valuation of this stock, the price to sales ratio is 10.65, the price to book ratio is 204.52 and price to earnings (TTM) ratio is 45.57.
Transactions by insiders
Recent insider trading involved Jensen Keith, Chief Financial Officer, that happened on Aug 27 ’24 when 11985.0 shares were sold. Chief Financial Officer, Jensen Keith completed a deal on Aug 20 ’24 to sell 4250.0 shares. Meanwhile, CHIEF OPERATING OFFICER Whittle John sold 0.1 million shares on Aug 21 ’24.
