In yesterday’s Wall Street session, Fortinet Inc (NASDAQ:FTNT) shares traded at $57.31, up 0.24% from the previous session.
39 analysts cover Fortinet Inc (NASDAQ:FTNT), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $95.00 and a low of $60.00, we find $70.00. Given the previous closing price of $57.17, this indicates a potential upside of 22.44 percent. FTNT stock price is now -3.28% away from the 50-day moving average and -10.07% away from the 200-day moving average. The market capitalization of the company currently stands at $45.01B.
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The stock has received a hold rating from 13 analysts and a buy rating from 22. Brokers who have rated the stock have averaged $72.07 as their price target over the next twelve months.
In other news, Perche Patrice, Chief Revenue Off./EVP Supp. sold 7,535 shares of the company’s stock on Oct 23. The stock was sold for $422,943 at an average price of $56.13. Upon completion of the transaction, the Chief Revenue Off./EVP Supp. now directly owns 25,730 shares in the company, valued at $1.47 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 21, Chief Revenue Off./EVP Supp. Perche Patrice sold 7,530 shares of the business’s stock. A total of $445,045 was realized by selling the stock at an average price of $59.10. This leaves the insider owning 25,730 shares of the company worth $1.47 million. Insiders disposed of 16,207,983 shares of company stock worth roughly $928.88 million over the past 1 year. A total of 17.00% of the company’s stock is owned by insiders.
On Wednesday morning Fortinet Inc (NASDAQ: FTNT) stock kicked off with the opening price of $57.43. During the past 12 months, Fortinet Inc has had a low of $42.61 and a high of $81.24. As of last week, the company has a debt-to-equity ratio of 3.09, a current ratio of 1.39, and a quick ratio of 1.29. According to the stock market information, the enterprise value for the company is $42.58B, which is based on a 42.99 price-to-earnings ratio, a 2.42 price-to-earnings-growth ratio, and a beta of 1.14. The fifty day moving average price for FTNT is $59.25 and a two-hundred day moving average price translates $63.72 for the stock.
The latest earnings results from Fortinet Inc (NASDAQ: FTNT) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.38, beating analysts’ expectations of $0.34 by 0.04. This compares to $0.21 EPS in the same period last year. The net profit margin was 21.24% and return on equity was 843.82% for FTNT. The company reported revenue of $1.29 billion for the quarter, compared to $1.03 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 25.5 percent. For the current quarter, analysts expect FTNT to generate $1.35B in revenue.
