The stock of Fortinet Inc (NASDAQ:FTNT) last traded at $76.64, up 0.75% from the previous session.
FTNT stock price is now 16.01% away from the 50-day moving average and 20.52% away from the 200-day moving average. The market capitalization of the company currently stands at $58.62B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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, NEUKOM WILLIAM H., Director bought 459 shares of the company’s stock on Sep 06 ’24. The stock was bought for $34,967 at an average price of $76.18. Upon completion of the transaction, the Director now directly owns 148,761 shares in the company, valued at $11.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 27 ’24, Chief Financial Officer Jensen Keith sold 11,985 shares of the business’s stock. A total of $905,465 was realized by selling the stock at an average price of $75.55. This leaves the insider owning 4,676 shares of the company worth $0.36 million. A total of 17.51% 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 $78.08. 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 $56359448576, which is based on a 45.28 price-to-earnings ratio, a 2.95 price-to-earnings-growth ratio, and a beta of 1.00. The fifty day moving average price for FTNT is $66.3998 and a two-hundred day moving average price translates $63.7091 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.
