Fortinet Inc. (NASDAQ: FTNT) is 26.57% higher on its value in year-to-date trading and has touched a low of $42.61 and a high of $71.52 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FTNT stock was last observed hovering at around $60.39 in the last trading session, with the day’s gains setting it 1.49% off its average median price target of $70.00 for the next 12 months. It is also 27.2% off the consensus price target high of $85.00 offered by 35 analysts, but current levels are -12.51% lower than the price target low of $55.00 for the same period.
Currently trading at $61.88, the stock is 2.71% and 11.91% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.99 million and changing 2.47% at the moment leaves the stock 14.20% off its SMA200. FTNT registered 9.21% gain for a year compared to 6-month gain of 19.14%.
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The stock witnessed a 1.13% loss in the last 1 month and extending the period to 3 months gives it a 13.11%, and is 3.22% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.12% over the week and 2.63% over the month.
Fortinet Inc. (FTNT) has around 12595 employees, a market worth around $49.50B and $4.42B in sales. Current P/E ratio is 57.89 and Fwd P/E is 36.99. Profit margin for the company is 19.40%. Distance from 52-week low is 45.22% and -13.47% from its 52-week high. The company has generated returns on investments over the last 12 months (132.40%).
Fortinet Inc. (FTNT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Fortinet Inc. (FTNT) is a “Overweight”. 35 analysts offering their recommendations for the stock have an average rating of 2.00, where 11 rate it as a Hold and 6 think it is a “Overweight”. 18 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Fortinet Inc. is expected to release its quarterly report on 05/04/2023.The EPS is expected to grow by 46.60% this year
Fortinet Inc. (FTNT) Top Institutional Holders
The shares outstanding are 780.60M, and float is at 633.43M with Short Float at 2.15%.
Fortinet Inc. (FTNT) Insider Activity
A total of 82 insider transactions have happened at Fortinet Inc. (FTNT) in the last six months, with sales accounting for 26 and purchases happening 56 times. The most recent transaction is an insider sale by Jensen Keith, the company’s CFO & Chief Accounting Officer. SEC filings show that Jensen Keith sold 98,374 shares of the company’s common stock on Feb 23 at a price of $60.18 per share for a total of $5.92 million. Following the sale, the insider now owns 4569.0 shares.
Fortinet Inc. disclosed in a document filed with the SEC on Feb 21 that Perche Patrice (Chief Revenue Off./EVP Supp.) sold a total of 11,035 shares of the company’s common stock. The trade occurred on Feb 21 and was made at $59.75 per share for $0.66 million. Following the transaction, the insider now directly holds 25730.0 shares of the FTNT stock.
Still, SEC filings show that on Feb 09, Perche Patrice (Chief Revenue Off./EVP Supp.) disposed off 575,494 shares at an average price of $58.97 for $33.94 million. The insider now directly holds 25,730 shares of Fortinet Inc. (FTNT).
Fortinet Inc. (FTNT): Who are the competitors?
The company’s main competitors (and peers) include Cisco Systems Inc. (CSCO) that is trading -9.86% down over the past 12 months and CrowdStrike Holdings Inc. (CRWD) that is -29.22% lower over the same period. Palo Alto Networks Inc. (PANW) is 5.42% up on the 1-year trading charts.
