The price of Fortinet Inc (NASDAQ:FTNT) shares last traded on Wall Street rose 1.60% to $94.85.
FTNT stock price is now 6.02% away from the 50-day moving average and 31.64% away from the 200-day moving average. The market capitalization of the company currently stands at $72.70B.
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With the price target maintained at $115, KeyBanc Capital Markets recently Upgraded its rating from Sector Weight to Overweight for Fortinet Inc (NASDAQ: FTNT). On November 19, 2024, BMO Capital Markets reiterated its ‘Market Perform’ rating on the stock by increasing its target price from $88 to quote $100, while ‘HSBC Securities’ rates the stock as ‘Buy’
In other news, Xie Ken, PRESIDENT & CEO sold 22,916 shares of the company’s stock on Dec 17 ’24. The stock was sold for $2,244,142 at an average price of $97.93. Upon completion of the transaction, the PRESIDENT & CEO now directly owns 48,983,683 shares in the company, valued at $4.65 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 18 ’24, PRESIDENT & CEO Xie Ken sold 22,928 shares of the business’s stock. A total of $2,188,848 was realized by selling the stock at an average price of $95.47. This leaves the insider owning 49,002,422 shares of the company worth $4.65 billion. A total of 17.50% of the company’s stock is owned by insiders.
During the past 12 months, Fortinet Inc has had a low of $54.57 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 $70074236928, which is based on a 47.81 price-to-earnings ratio, a 2.75 price-to-earnings-growth ratio, and a beta of 1.01. The fifty day moving average price for FTNT is $89.4608 and a two-hundred day moving average price translates $72.0523 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.
