Fortinet Inc [FTNT] stock prices are up 0.31% to $80.62 at the moment. 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 -0.30% over the last week, with a monthly amount glided 5.23%, 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 October 17, 2024, when Mizuho downgraded its rating to a Underperform but kept the price target unchanged to $68 for it. Previously, DZ Bank upgraded its rating to Hold on August 08, 2024, and kept the price target unchanged to $65. On August 07, 2024, upgrade upgraded it’s rating to Hold but maintained its price target of $59 on the stock. Guggenheim downgraded its rating to a Neutral. TD Cowen upgraded its rating to a Buy but $75 remained the price target by the analyst firm on July 18, 2024. Daiwa Securities upgraded its rating to Outperform for this stock on February 13, 2024, but kept the price target unchanged to $75. In a note dated February 08, 2024, DZ Bank downgraded an Sell rating on this stock.
The stock price of Fortinet Inc [FTNT] has been fluctuating between $44.12 and $83.77 over the past year. Currently, Wall Street analysts expect the stock to reach $72.4 within the next 12 months. Fortinet Inc [NASDAQ: FTNT] shares were valued at $80.62 at the most recent close of the market. An investor can expect a potential drop of -10.2% based on the average FTNT price forecast.
Analyzing the FTNT fundamentals
The Fortinet Inc [NASDAQ:FTNT] reported sales of 5.54B for trailing twelve months, representing a surge 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. 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 80.21 points at the first support level, and at 79.79 for the second support level. However, for the 1st resistance point, the stock is sitting at 81.19, and for the 2nd resistance point, it is at 81.75.
Ratios To Look Out For
It’s worth pointing out that Fortinet Inc [NASDAQ:FTNT]’s Current Ratio is 1.32. As well, the Quick Ratio is 1.22, while the Cash Ratio is 0.59. Considering the valuation of this stock, the price to sales ratio is 11.14, the price to book ratio is 213.77 and price to earnings (TTM) ratio is 47.64.
Transactions by insiders
Recent insider trading involved Xie Ken, PRESIDENT & CEO, that happened on Oct 15 ’24 when 23302.0 shares were sold. PRESIDENT & CEO, Xie Ken completed a deal on Oct 16 ’24 to sell 23307.0 shares. Meanwhile, Director KEN QING XIE bought 23307.0 shares on Oct 16 ’24.
