At the time of writing, Fortinet Inc [FTNT] stock is trading at $82.87, up 0.48%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The FTNT shares have gain 6.23% over the last week, with a monthly amount glided 11.25%, 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.
For the past year, the stock price of Fortinet Inc fluctuated between $44.12 and $82.50. Currently, Wall Street analysts expect the stock to reach $71.87 within the next 12 months. Fortinet Inc [NASDAQ: FTNT] shares were valued at $82.87 at the most recent close of the market. An investor can expect a potential drop of -13.27% based on the average FTNT price forecast.
Analyzing the FTNT fundamentals
According to Fortinet Inc [NASDAQ:FTNT], the company’s sales were 5.54B for trailing twelve months, which represents an 10.95% jump. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 3.45.
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 82.18 points at the first support level, and at 81.49 for the second support level. However, for the 1st resistance point, the stock is sitting at 83.30, and for the 2nd resistance point, it is at 83.73.
Ratios To Look Out For
It is important to note that Fortinet Inc [NASDAQ:FTNT] has a current ratio of 1.32. In addition, the Quick Ratio stands at 1.22 and the Cash Ratio stands at 0.59. Considering the valuation of this stock, the price to sales ratio is 11.45, the price to book ratio is 219.74 and price to earnings (TTM) ratio is 48.97.
Transactions by insiders
Recent insider trading involved Xie Ken, PRESIDENT & CEO, that happened on Sep 17 ’24 when 23511.0 shares were sold. PRESIDENT & CEO, Xie Ken completed a deal on Sep 18 ’24 to sell 23538.0 shares. Meanwhile, Director KEN QING XIE bought 23538.0 shares on Sep 18 ’24.
