The stock of Fortinet Inc (NASDAQ:FTNT) last traded at $90.79, down -1.19% from the previous session.
FTNT stock price is now 11.55% away from the 50-day moving average and 31.15% away from the 200-day moving average. The market capitalization of the company currently stands at $69.59B.
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With the price target enhanced from $88 to $100, BMO Capital Markets maintained Market Perform rating for Fortinet Inc (NASDAQ: FTNT). On November 11, 2024, HSBC Securities Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock increasing its target price from $83 to quote $111, while ‘Mizuho’ rates the stock as ‘Underperform’
In other news, KEITH JENSEN, Officer bought 21,900 shares of the company’s stock on Nov 19 ’24. The stock was bought for $2,012,172 at an average price of $91.88. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 13 ’24, PRESIDENT & CEO Xie Ken sold 22,896 shares of the business’s stock. A total of $2,267,322 was realized by selling the stock at an average price of $99.03. This leaves the insider owning 48,964,933 shares of the company worth $4.45 billion. A total of 17.53% of the company’s stock is owned by insiders.
During the past 12 months, Fortinet Inc has had a low of $50.65 and a high of $100.59. As of last week, the company has a debt-to-equity ratio of 1.09, a current ratio of 1.34, and a quick ratio of 1.25. According to the stock market information, the enterprise value for the company is $67797872640, which is based on a 45.77 price-to-earnings ratio, a 2.75 price-to-earnings-growth ratio, and a beta of 0.98. The fifty day moving average price for FTNT is $81.0956 and a two-hundred day moving average price translates $69.1036 for the stock.
The latest earnings results from Fortinet Inc (NASDAQ: FTNT) was released for 2024-09-30. The net profit margin was 26.79% and return on equity was 311.53% for FTNT. The company reported revenue of $1.51 billion for the quarter, compared to $1.33 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.0 percent. For the current quarter, analysts expect FTNT to generate $1.6B in revenue.
