The stock of Fortinet Inc (NASDAQ:FTNT) last traded at $69.69, up 1.47% from the previous session.
FTNT stock price is now 17.44% away from the 50-day moving average and 13.83% away from the 200-day moving average. The market capitalization of the company currently stands at $53.31B.
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With the price target maintained at $65, DZ Bank recently Upgraded its rating from Sell to Hold for Fortinet Inc (NASDAQ: FTNT). On August 07, 2024, HSBC Securities Upgraded its previous ‘Reduce’ rating to ‘Hold’ on the stock keeping its target price maintained at $59, while ‘Guggenheim’ rates the stock as ‘Neutral’
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 $755.93 million. A total of 17.55% 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. As of last week, the company has a debt-to-equity ratio of 3.45, a current ratio of 1.32, and a quick ratio of 1.22. According to the stock market information, the enterprise value for the company is $51043336192, which is based on a 41.18 price-to-earnings ratio, a 2.68 price-to-earnings-growth ratio, and a beta of 0.92. The fifty day moving average price for FTNT is $59.5384 and a two-hundred day moving average price translates $61.2903 for the stock.
The latest earnings results from Fortinet Inc (NASDAQ: FTNT) was released for 2024-06-30. The net profit margin was 23.71% and return on equity was 430.88% for FTNT. The company reported revenue of $1.43 billion for the quarter, compared to $1.29 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.95 percent.
