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In the latest session, Fortinet Inc (NASDAQ: FTNT) closed at $64.03 down -0.97% from its previous closing price of $64.66. In other words, the price has decreased by -$0.97 from its previous closing price. On the day, 3.09 million shares were traded. FTNT stock price reached its highest trading level at $65.01 during the session, while it also had its lowest trading level at $63.528.
Ratios:
For a deeper understanding of Fortinet Inc’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 20.02 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 28.22. For the most recent quarter (mrq), Quick Ratio is recorded 1.06 and its Current Ratio is at 1.19.
HSBC Securities Downgraded its Hold to Reduce on February 07, 2024, while the target price for the stock was maintained at $57.
Insider Transactions:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Apr 17 ’24 when Xie Ken sold 24,004 shares for $64.88 per share. The transaction valued at 1,557,362 led to the insider holds 48,678,310 shares of the business.
Xie Ken sold 23,992 shares of FTNT for $1,553,378 on Apr 16 ’24. The PRESIDENT & CEO now owns 48,660,648 shares after completing the transaction at $64.75 per share. On Mar 13 ’24, another insider, Xie Ken, who serves as the PRESIDENT & CEO of the company, sold 23,699 shares for $70.75 each. As a result, the insider received 1,676,724 and left with 48,642,973 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, FTNT now has a Market Capitalization of 48856870912 and an Enterprise Value of 47487873024. As of this moment, Fortinet’s Price-to-Earnings (P/E) ratio for their current fiscal year is 43.93, and their Forward P/E ratio for the next fiscal year is 33.21. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 3.01. For the stock, the TTM Price-to-Sale (P/S) ratio is 9.21. Its current Enterprise Value per Revenue stands at 8.952 whereas that against EBITDA is 35.179.
Stock Price History:
Over the past 52 weeks, FTNT has reached a high of $81.24, while it has fallen to a 52-week low of $44.12. The 50-Day Moving Average of the stock is -6.84%, while the 200-Day Moving Average is calculated to be 1.68%.
Shares Statistics:
For the past three months, FTNT has traded an average of 5.97M shares per day and 4135670 over the past ten days. A total of 761.00M shares are outstanding, with a floating share count of 629.20M. Insiders hold about 17.54% of the company’s shares, while institutions hold 66.64% stake in the company. Shares short for FTNT as of 1711584000 were 13187419 with a Short Ratio of 2.21, compared to 1709164800 on 12860400. Therefore, it implies a Short% of Shares Outstanding of 13187419 and a Short% of Float of 2.08.
Earnings Estimates
The stock of Fortinet Inc (FTNT) is currently drawing attention from Fortinet, Inc. analysts actively involved in the ongoing evaluation and rating process.The consensus estimate for the next quarter is $2.53, with high estimates of $0.38 and low estimates of $0.89.
