At the time of writing, Fortinet Inc [FTNT] stock is trading at $94.20, down -0.28%. 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 2.35% over the last week, with a monthly amount glided 16.50%, 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 November 11, 2024, when HSBC Securities upgraded its rating to a Buy and also boosted its price target to $111 from $83. Previously, Mizuho downgraded its rating to Underperform on October 17, 2024, and kept the price target unchanged to $68. On August 08, 2024, upgrade upgraded it’s rating to Hold but maintained its price target of $65 on the stock. HSBC Securities upgraded its rating to a Hold but stick to its price target of $59 on August 07, 2024. Guggenheim downgraded its rating to a Neutral. TD Cowen upgraded its rating to Buy for this stock on July 18, 2024, but kept the price target unchanged to $75. In a note dated February 13, 2024, Daiwa Securities upgraded an Outperform rating on this stock but restated the target price of $75.
For the past year, the stock price of Fortinet Inc fluctuated between $49.97 and $100.59. Currently, Wall Street analysts expect the stock to reach $74.49 within the next 12 months. Fortinet Inc [NASDAQ: FTNT] shares were valued at $94.20 at the most recent close of the market. An investor can expect a potential drop of -20.92% based on the average FTNT price forecast.
Analyzing the FTNT fundamentals
According to Fortinet Inc [NASDAQ:FTNT], the company’s sales were 5.71B for trailing twelve months, which represents an 13.00% jump. Gross Profit Margin for this corporation currently stands at 0.8% with Operating Profit Margin at 0.28%, Pretax Profit Margin comes in at 0.32%, and Net Profit Margin reading is 0.27%. To continue investigating profitability, this company’s Return on Assets is posted at 0.17, Equity is 10.28 and Total Capital is 0.32. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.09.
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 92.49 points at the first support level, and at 90.79 for the second support level. However, for the 1st resistance point, the stock is sitting at 96.14, and for the 2nd resistance point, it is at 98.09.
Ratios To Look Out For
It is important to note that Fortinet Inc [NASDAQ:FTNT] has a current ratio of 1.34. In addition, the Quick Ratio stands at 1.25 and the Cash Ratio stands at 0.64. Considering the valuation of this stock, the price to sales ratio is 12.61, the price to book ratio is 79.43 and price to earnings (TTM) ratio is 47.48.
Transactions by insiders
Recent insider trading involved Xie Ken, PRESIDENT & CEO, that happened on Nov 13 ’24 when 22896.0 shares were sold. PRESIDENT & CEO, Xie Ken completed a deal on Nov 12 ’24 to sell 22938.0 shares. Meanwhile, Director KEN QING XIE bought 22896.0 shares on Nov 13 ’24.
