Currently, there are 761.00M common shares owned by the public and among those 632.12M shares have been available to trade.
The company’s stock has a 5-day price change of -5.45% and 21.58% over the past three months. FTNT shares are trading 56.98% year to date (YTD), with the 12-month market performance up to 82.23% higher. It has a 12-month low price of $49.97 and touched a high of $100.59 over the same period. FTNT has an average intraday trading volume of 4.48 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 7.58%, 13.30%, and 32.96% respectively.
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Institutional ownership of Fortinet Inc (NASDAQ: FTNT) shares accounts for 66.66% of the company’s 761.00M shares outstanding.
It has a market capitalization of $70.23B and a beta (3y monthly) value of 0.98. The stock’s trailing 12-month PE ratio is 46.32, while the earnings-per-share (ttm) stands at $1.98. The company has a PEG of 2.78 and a Quick Ratio of 1.25 with the debt-to-equity ratio at 1.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.84% over the week and 2.99% over the month.
Earnings per share for the fiscal year are expected to increase by 37.71%, and 8.09% over the next financial year. EPS should shrink at an annualized rate of 16.63% 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. HSBC Securities stated their Buy rating for the stock in a research note on November 11, 2024, with the firm’s price target at $83-$111. Mizuho coverage for the Fortinet Inc (FTNT) stock in a research note released on October 17, 2024 offered a Underperform rating with a price target of $68. DZ Bank was of a view on August 08, 2024 that the stock is Hold, while HSBC Securities gave the stock Hold rating on August 07, 2024, issuing a price target of $59. Guggenheim on their part issued Neutral rating on July 29, 2024.
