Fortinet Inc (NASDAQ: FTNT): Hunting Genuine Value In Market Debris

Currently, there are 761.00M common shares owned by the public and among those 629.20M shares have been available to trade.

The company’s stock has a 5-day price change of 1.41% and 17.63% over the past three months. FTNT shares are trading 17.63% year to date (YTD), with the 12-month market performance up to 4.62% higher. It has a 12-month low price of $44.12 and touched a high of $81.24 over the same period. FTNT has an average intraday trading volume of 6.18 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.41%, 1.09%, and 8.81% respectively.

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Institutional ownership of Fortinet Inc (NASDAQ: FTNT) shares accounts for 66.40% of the company’s 761.00M shares outstanding.

It has a market capitalization of $52.53B and a beta (3y monthly) value of 1.07. The stock’s trailing 12-month PE ratio is 47.24, while the earnings-per-share (ttm) stands at $1.46. The company has a PEG of 3.23 and a Quick Ratio of 1.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.76% over the week and 2.56% over the month.

Analysts forecast that Fortinet Inc (FTNT) will achieve an EPS of $0.38 for the current quarter, $0.39 for the next quarter and $1.94 for 2025. The lowest estimate earnings-per-share for the quarter is $0.37 while analysts give the company a high EPS estimate of $0.41. Comparatively, EPS for the current quarter was $0.34 a year ago. Earnings per share for the fiscal year are expected to increase by 4.53%, and 12.87% over the next financial year. EPS should shrink at an annualized rate of 14.62% over the next five years, compared to 30.73% over the past 5-year period.

Looking at the support for the FTNT, a number of firms have released research notes about the stock. Daiwa Securities stated their Outperform rating for the stock in a research note on February 13, 2024, with the firm’s price target at $75. HSBC Securities was of a view on February 07, 2024 that the stock is Reduce, while Bernstein gave the stock Mkt Perform rating on January 18, 2024, issuing a price target of $65. Daiwa Securities on their part issued Neutral rating on January 17, 2024.

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