In the latest session, Fortinet Inc (NASDAQ: FTNT) closed at $67.87 up 0.12% from its previous closing price of $67.79. In other words, the price has increased by $+0.08 from its previous closing price. On the day, 4209933 shares were traded. FTNT stock price reached its highest trading level at $68.06 during the session, while it also had its lowest trading level at $67.02.
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 21.22 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 29.91. 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 Mar 13 ’24 when Xie Ken sold 23,699 shares for $70.75 per share. The transaction valued at 1,676,724 led to the insider holds 48,642,973 shares of the business.
Xie Ken sold 23,694 shares of FTNT for $1,691,692 on Mar 12 ’24. The PRESIDENT & CEO now owns 48,625,005 shares after completing the transaction at $71.40 per share. On Mar 06 ’24, another insider, NEUKOM WILLIAM H., who serves as the Director of the company, bought 497 shares for $70.30 each. As a result, the insider paid 34,939 and bolstered with 294,365 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 51.79B and an Enterprise Value of 50.34B. As of this moment, Fortinet’s Price-to-Earnings (P/E) ratio for their current fiscal year is 46.57, and their Forward P/E ratio for the next fiscal year is 35.29. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 3.19. For the stock, the TTM Price-to-Sale (P/S) ratio is 9.76. Its current Enterprise Value per Revenue stands at 9.49 whereas that against EBITDA is 34.29.
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 67.19, while the 200-Day Moving Average is calculated to be 63.32.
Shares Statistics:
For the past three months, FTNT has traded an average of 6.28M shares per day and 5.05M 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 66.43% stake in the company. Shares short for FTNT as of Feb 29, 2024 were 12.86M with a Short Ratio of 2.05, compared to 11.4M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 1.69% and a Short% of Float of 2.03%.
Earnings Estimates
There are 33 different market analysts currently analyzing its stock. On average, analysts expect EPS of $0.38 for the current quarter, with a high estimate of $0.41 and a low estimate of $0.37, while EPS last year was $0.34. The consensus estimate for the next quarter is $0.39, with high estimates of $0.41 and low estimates of $0.37.
Analysts are recommending an EPS of between $2.14 and $1.65 for the fiscal current year, implying an average EPS of $1.71. EPS for the following year is $1.94, with 39 analysts recommending between $2.93 and $1.77.
Revenue Estimates
A total of 32 analysts believe the company’s revenue will be $1.34B this quarter.It ranges from a high estimate of $1.36B to a low estimate of $1.33B. As of the current estimate, Fortinet Inc’s year-ago sales were $1.26B, an estimated increase of 6.00% from the year-ago figure. For the next quarter, 32 analysts are estimating revenue of $1.39B, an increase of 7.80% over than the figure of $6.00% in the same quarter last year. There is a high estimate of $1.44B for the next quarter, whereas the lowest estimate is $1.37B.
A total of 39 analysts have provided revenue estimates for FTNT’s current fiscal year. The highest revenue estimate was $5.96B, while the lowest revenue estimate was $5.72B, resulting in an average revenue estimate of $5.78B. In the same quarter a year ago, actual revenue was $5.3B, up 9.00% from the average estimate. Based on 39 analysts’ estimates, the company’s revenue will be $6.56B in the next fiscal year. The high estimate is $7.19B and the low estimate is $6.25B. The average revenue growth estimate for next year is up 13.50% from the average revenue estimate for this year.
