Currently, there are 761.00M common shares owned by the public and among those 630.80M shares have been available to trade.
The company’s stock has a 5-day price change of 2.59% and 31.17% over the past three months. FTNT shares are trading 31.78% year to date (YTD), with the 12-month market performance up to 28.10% higher. It has a 12-month low price of $44.12 and touched a high of $77.18 over the same period. FTNT has an average intraday trading volume of 5.59 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 7.35%, 20.48%, and 22.72% respectively.
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Institutional ownership of Fortinet Inc (NASDAQ: FTNT) shares accounts for 68.17% of the company’s 761.00M shares outstanding.
It has a market capitalization of $59.00B and a beta (3y monthly) value of 1.00. The stock’s trailing 12-month PE ratio is 45.57, while the earnings-per-share (ttm) stands at $1.69. The company has a PEG of 2.97 and a Quick Ratio of 1.22 with the debt-to-equity ratio at 3.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.84% over the week and 2.65% over the month.
Earnings per share for the fiscal year are expected to increase by 24.45%, and 9.43% over the next financial year. EPS should shrink at an annualized rate of 15.37% 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. DZ Bank stated their Hold rating for the stock in a research note on August 08, 2024, with the firm’s price target at $65. HSBC Securities coverage for the Fortinet Inc (FTNT) stock in a research note released on August 07, 2024 offered a Hold rating with a price target of $59. Guggenheim was of a view on July 29, 2024 that the stock is Neutral, while TD Cowen gave the stock Buy rating on July 18, 2024, issuing a price target of $75. Daiwa Securities on their part issued Outperform rating on February 13, 2024.
