Fortinet Inc (FTNT) concluded trading on Wednesday at a closing price of $75.61, with 2.62 million shares of worth about $198.09 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.78% during that period and on August 28, 2024 the price saw a loss of about -0.47%. Currently the company’s common shares owned by public are about 761.00M shares, out of which, 630.80M shares are available for trading.
Stock saw a price change of 0.25% in past 5 days and over the past one month there was a price change of 31.50%. Year-to-date (YTD), FTNT shares are showing a performance of 29.18% which increased to 28.81% 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 $76.31 during that period. The average intraday trading volume for Fortinet Inc shares is 5.67 million. The stock is currently trading 9.57% above its 20-day simple moving average (SMA20), while that difference is up 20.00% for SMA50 and it goes to 21.05% higher than SMA200.
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Fortinet Inc (NASDAQ: FTNT) currently have 761.00M outstanding shares and institutions hold larger chunk of about 68.17% of that.
The stock has a current market capitalization of $57.83B and its 3Y-monthly beta is at 0.99. PE ratio of stock for trailing 12 months is 44.68, while it has posted earnings per share of $1.69 in the same period. Its PEG reads 2.91 and has Quick Ratio of 1.22 while making debt-to-equity ratio of 3.45. 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 1.57% while standing at 2.72% over the month.
Stock’s fiscal year EPS is expected to rise by 24.45% while it is estimated to increase by 9.43% in next year. EPS is likely to shrink at an annualized rate of 15.37% 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 DZ Bank on August 08, 2024 offering a Hold rating for the stock and assigned a target price of $65 to it. Coverage by HSBC Securities stated Fortinet Inc (FTNT) stock as a Hold in their note to investors on August 07, 2024, suggesting a price target of $59 for the stock. On July 29, 2024, Guggenheim Downgrade their recommendations, while on July 18, 2024, TD Cowen Upgrade their ratings for the stock with a price target of $75. Stock get an Outperform rating from Daiwa Securities on February 13, 2024.
