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After finishing at $91.88 in the prior trading day, Fortinet Inc (NASDAQ: FTNT) closed at $90.79, down -1.19%. In other words, the price has decreased by -$1.19 from its previous closing price. On the day, 5.7 million shares were traded. FTNT stock price reached its highest trading level at $91.77 during the session, while it also had its lowest trading level at $89.67.
Ratios:
Our goal is to gain a better understanding of FTNT by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 18.80 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 41.82. For the most recent quarter (mrq), Quick Ratio is recorded 1.25 and its Current Ratio is at 1.34. In the meantime, Its Debt-to-Equity ratio is 1.09 whereas as Long-Term Debt/Eq ratio is at 1.09.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, BMO Capital Markets on Nov-20-24, Reiterated its Market Perform rating but revised its target price to $100 from $88 previously.
On November 11, 2024, HSBC Securities Upgraded its rating to Buy which previously was Hold and also upped its target price recommendation from $83 to $111.
Mizuho Downgraded its Neutral to Underperform on October 17, 2024, while the target price for the stock was maintained at $68.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Nov 19 ’24 when KEITH JENSEN bought 21,900 shares for $91.88 per share.
Xie Ken sold 22,896 shares of FTNT for $2,267,322 on Nov 13 ’24. The PRESIDENT & CEO now owns 48,964,933 shares after completing the transaction at $99.03 per share. On Nov 12 ’24, another insider, Xie Ken, who serves as the PRESIDENT & CEO of the company, sold 22,938 shares for $98.55 each. As a result, the insider received 2,260,428 and left with 48,946,162 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 69586264064 and an Enterprise Value of 67797872640. As of this moment, Fortinet’s Price-to-Earnings (P/E) ratio for their current fiscal year is 45.77, and their Forward P/E ratio for the next fiscal year is 37.41. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 2.75. For the stock, the TTM Price-to-Sale (P/S) ratio is 12.19 while its Price-to-Book (P/B) ratio in mrq is 76.55. Its current Enterprise Value per Revenue stands at 11.872 whereas that against EBITDA is 39.237.
Stock Price History:
Over the past 52 weeks, FTNT has reached a high of $100.59, while it has fallen to a 52-week low of $50.65. The 50-Day Moving Average of the stock is 11.55%, while the 200-Day Moving Average is calculated to be 31.15%.
Shares Statistics:
The stock has traded on average 4.54M shares per day over the past 3-months and 7429010 shares per day over the last 10 days, according to various share statistics. A total of 761.00M shares are outstanding, with a floating share count of 632.12M. Insiders hold about 17.53% of the company’s shares, while institutions hold 66.66% stake in the company. Shares short for FTNT as of 1730332800 were 12574079 with a Short Ratio of 2.77, compared to 1727654400 on 12986849. Therefore, it implies a Short% of Shares Outstanding of 12574079 and a Short% of Float of 1.9900000000000002.
