In yesterday’s Wall Street session, Fortinet Inc (NASDAQ:FTNT) shares traded at $55.81, up 0.76% from the previous session.
FTNT stock price is now -5.54% away from the 50-day moving average and -8.67% away from the 200-day moving average. The market capitalization of the company currently stands at $42.64B.
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On July 18, 2024, TD Cowen Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $75, while ‘Daiwa Securities’ rates the stock as ‘Outperform’
In other news, MICHAEL XIE, Director bought 24,712 shares of the company’s stock on Aug 02 ’24. The stock was bought for $1,413,526 at an average price of $57.20. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 02 ’24, VP, ENGINEERING & CTO Xie Michael sold 24,712 shares of the business’s stock. A total of $1,386,707 was realized by selling the stock at an average price of $56.11. This leaves the insider owning 10,847,018 shares of the company worth $605.37 million. A total of 17.56% of the company’s stock is owned by insiders.
During the past 12 months, Fortinet Inc has had a low of $44.12 and a high of $73.91. According to the stock market information, the enterprise value for the company is $40694878208, which is based on a 36.39 price-to-earnings ratio, a 3.40 price-to-earnings-growth ratio, and a beta of 0.98. The fifty day moving average price for FTNT is $58.983 and a two-hundred day moving average price translates $61.09995 for the stock.
The latest earnings results from Fortinet Inc (NASDAQ: FTNT) was released for 2024-03-31. The company reported revenue of $1.35 billion for the quarter, compared to $1.26 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.21 percent. For the current quarter, analysts expect FTNT to generate $1.4B in revenue.
