Before You Invest In Fortinet Inc (NASDAQ:FTNT), Consider This Metric

Stocks of Fortinet Inc (NASDAQ:FTNT) traded higher last session on Wall Street, down -0.75% to $50.10.

According to the data, Fortinet Inc (NASDAQ:FTNT) has 39 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $90.00 and a low of $49.00, we find $56.00. Given the previous closing price of $50.48, this indicates a potential upside of 10.94 percent. FTNT stock price is now -15.15% away from the 50-day moving average and -21.49% away from the 200-day moving average. The market capitalization of the company currently stands at $39.35B.

A total of 21 analysts have issued a hold rating and 15 have given it a buy rating. Brokers who have rated the stock have averaged $58.69 as their price target over the next twelve months.

With the price target reduced from $75 to $49, HSBC Securities Downgraded its rating from Buy to Hold for Fortinet Inc (NASDAQ: FTNT).

In other news, Perche Patrice, Chief Revenue Off./EVP Supp. sold 8,918 shares of the company’s stock on Nov 03. The stock was sold for $448,229 at an average price of $50.26. Upon completion of the transaction, the Chief Revenue Off./EVP Supp. now directly owns 25,730 shares in the company, valued at $1.29 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 23, Chief Revenue Off./EVP Supp. Perche Patrice sold 7,535 shares of the business’s stock. A total of $422,943 was realized by selling the stock at an average price of $56.13. This leaves the insider owning 25,730 shares of the company worth $1.29 million. Insiders disposed of 16,199,716 shares of company stock worth roughly $811.61 million over the past 1 year. A total of 17.00% of the company’s stock is owned by insiders.

Monday’s opening bell rang with an opening price of $50.09 for Fortinet Inc (NASDAQ: FTNT). During the past 12 months, Fortinet Inc has had a low of $44.12 and a high of $81.24. As of last week, the company has a debt-to-equity ratio of 13.38, a current ratio of 1.30, and a quick ratio of 1.17. According to the stock market information, the enterprise value for the company is $37.17B, which is based on a 34.48 price-to-earnings ratio, a 2.03 price-to-earnings-growth ratio, and a beta of 1.11. The fifty day moving average price for FTNT is $59.05 and a two-hundred day moving average price translates $63.82 for the stock.

The latest earnings results from Fortinet Inc (NASDAQ: FTNT) was released for Sep, 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 22.25% 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.

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