Fortinet Inc (FTNT) concluded trading on Wednesday at a closing price of $67.87, with 4.21 million shares of worth about $285.73 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 12.29% during that period and on March 20, 2024 the price saw a gain of about 0.12%. Currently the company’s common shares owned by public are about 761.00M shares, out of which, 629.20M shares are available for trading.
However, the stock later moved at a day high price of 68.06, or with a gain of 0.12%. Stock saw a price change of -3.29% in past 5 days and over the past one month there was a price change of -0.06%. Year-to-date (YTD), FTNT shares are showing a performance of 15.96% which increased to 10.29% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $44.12 but also hit the highest price of $81.24 during that period. The average intraday trading volume for Fortinet Inc shares is 6.28 million. The stock is currently trading -2.11% below its 20-day simple moving average (SMA20), while that difference is up 1.22% for SMA50 and it goes to 7.18% higher than SMA200.
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Fortinet Inc (NASDAQ: FTNT) currently have 761.00M outstanding shares and institutions hold larger chunk of about 66.43% of that.
The stock has a current market capitalization of $51.79B and its 3Y-monthly beta is at 1.09. PE ratio of stock for trailing 12 months is 46.57, while it has posted earnings per share of $1.46 in the same period. Its PEG reads 3.19 and has Quick Ratio of 1.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FTNT, volatility over the week remained 2.22% while standing at 2.77% over the month.
Analysts are in expectations that Fortinet Inc (FTNT) stock would likely to be making an EPS of $0.38 in the current quarter, while forecast for next quarter EPS is $0.39 and it is $1.94 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.37 which is $0.41 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.34 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 4.53% while it is estimated to increase by 12.88% in next year. EPS is likely to shrink at an annualized rate of 14.62% for next 5-years, compared to annual growth of 30.73% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Daiwa Securities on February 13, 2024 offering an Outperform rating for the stock and assigned a target price of $75 to it. On February 07, 2024, HSBC Securities Downgrade their recommendations, while on January 18, 2024, Bernstein Initiated their ratings for the stock with a price target of $65. Stock get a Neutral rating from Daiwa Securities on January 17, 2024.
