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After finishing at $61.01 in the prior trading day, Fortinet Inc (NASDAQ: FTNT) closed at $60.73, down -0.46%. In other words, the price has decreased by -$0.46 from its previous closing price. On the day, 3.04 million shares were traded. FTNT stock price reached its highest trading level at $61.48 during the session, while it also had its lowest trading level at $60.66.
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 15.35 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 27.41. For the most recent quarter (mrq), Quick Ratio is recorded 1.08 and its Current Ratio is at 1.20.
HSBC Securities Downgraded its Hold to Reduce on February 07, 2024, while the target price for the stock was maintained at $57.
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 Jun 12 ’24 when Xie Ken sold 24,256 shares for $60.23 per share. The transaction valued at 1,460,934 led to the insider holds 48,759,894 shares of the business.
Xie Ken sold 24,235 shares of FTNT for $1,442,643 on Jun 11 ’24. The PRESIDENT & CEO now owns 48,742,483 shares after completing the transaction at $59.53 per share. On Jun 06 ’24, another insider, NEUKOM WILLIAM H., who serves as the Director of the company, bought 586 shares for $59.55 each. As a result, the insider paid 34,898 and bolstered with 295,778 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 46393954304 and an Enterprise Value of 44453453824. As of this moment, Fortinet’s Price-to-Earnings (P/E) ratio for their current fiscal year is 39.60, and their Forward P/E ratio for the next fiscal year is 31.15. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 3.70. For the stock, the TTM Price-to-Sale (P/S) ratio is 8.60. Its current Enterprise Value per Revenue stands at 8.239 whereas that against EBITDA is 31.78.
Stock Price History:
The Beta on a monthly basis for FTNT is 0.98, which has changed by -0.18647021 over the last 52 weeks, in comparison to a change of 0.25510752 over the same period for the S&P500. 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 0.23%, while the 200-Day Moving Average is calculated to be -0.70%.
Shares Statistics:
The stock has traded on average 5.63M shares per day over the past 3-months and 6850070 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 629.86M. Insiders hold about 17.55% of the company’s shares, while institutions hold 68.59% stake in the company. Shares short for FTNT as of 1718323200 were 14264504 with a Short Ratio of 2.53, compared to 1715731200 on 12759936. Therefore, it implies a Short% of Shares Outstanding of 14264504 and a Short% of Float of 2.26.
Earnings Estimates
The company has 34.0 analysts who recommend its stock at the moment. On average, analysts expect EPS of $0.41 for the current quarter, with a high estimate of $0.49 and a low estimate of $0.39, while EPS last year was $0.38. The consensus estimate for the next quarter is $0.43, with high estimates of $0.49 and low estimates of $0.41.
Analysts are recommending an EPS of between $2.02 and $1.73 for the fiscal current year, implying an average EPS of $1.77. EPS for the following year is $1.96, with 37.0 analysts recommending between $2.48 and $1.8.
Revenue Estimates
33 analysts predict $1.4B in revenue for the current quarter. It ranges from a high estimate of $1.42B to a low estimate of $1.39B. As of the current estimate, Fortinet Inc’s year-ago sales were $1.29BFor the next quarter, 33 analysts are estimating revenue of $1.47B. There is a high estimate of $1.48B for the next quarter, whereas the lowest estimate is $1.44B.
A total of 38 analysts have provided revenue estimates for FTNT’s current fiscal year. The highest revenue estimate was $5.84B, while the lowest revenue estimate was $5.77B, resulting in an average revenue estimate of $5.8B. In the same quarter a year ago, actual revenue was $5.3BBased on 38 analysts’ estimates, the company’s revenue will be $6.54B in the next fiscal year. The high estimate is $6.86B and the low estimate is $6.28B.
