At the time of writing, Fortinet Inc [FTNT] stock is trading at $96.44, up 3.57%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The FTNT shares have gain 6.22% over the last week, with a monthly amount glided 19.42%, and seem to be holding up well over a long-time horizon.
From an analyst’s perspective:
Fortinet Inc [NASDAQ: FTNT] stock has seen the most recent analyst activity on November 19, 2024, when BMO Capital Markets reiterated its Market Perform rating and also boosted its price target to $100 from $88. Previously, HSBC Securities upgraded its rating to Buy on November 11, 2024, and elevated its price target to $111. On October 17, 2024, downgrade downgraded it’s rating to Underperform but maintained its price target of $68 on the stock. DZ Bank upgraded its rating to a Hold but stick to its price target of $65 on August 08, 2024. HSBC Securities upgraded its rating to a Hold but $59 remained the price target by the analyst firm on August 07, 2024. Guggenheim downgraded its rating to Neutral for this stock on July 29, 2024. In a note dated July 18, 2024, TD Cowen upgraded an Buy rating on this stock but restated the target price of $75.
For the past year, the stock price of Fortinet Inc fluctuated between $50.65 and $100.59. Currently, Wall Street analysts expect the stock to reach $74.96 within the next 12 months. Fortinet Inc [NASDAQ: FTNT] shares were valued at $96.44 at the most recent close of the market. An investor can expect a potential drop of -22.27% 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.09.
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 94.71 points at the first support level, and at 92.97 for the second support level. However, for the 1st resistance point, the stock is sitting at 97.44, and for the 2nd resistance point, it is at 98.43.
Ratios To Look Out For
It is important to note that Fortinet Inc [NASDAQ:FTNT] has a current ratio of 1.34. Also, the Quick Ratio is 1.25, while the Cash Ratio stands at 0.64. Considering the valuation of this stock, the price to sales ratio is 12.94, the price to book ratio is 81.32 and price to earnings (TTM) ratio is 48.61.
Transactions by insiders
Recent insider trading involved Jensen Keith, Chief Financial Officer, that happened on Nov 19 ’24 when 4250.0 shares were sold. Officer, KEITH JENSEN completed a deal on Nov 19 ’24 to buy 21900.0 shares. Meanwhile, PRESIDENT & CEO Xie Ken sold 22896.0 shares on Nov 13 ’24.
