In yesterday’s Wall Street session, Fortinet Inc (NASDAQ:FTNT) shares traded at $93.06, up 0.62% from the previous session.
FTNT stock price is now -1.11% away from the 50-day moving average and 25.44% away from the 200-day moving average. The market capitalization of the company currently stands at $71.33B.
On January 06, 2025, Piper Sandler Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock increasing its target price from $100 to quote $120, while ‘KeyBanc Capital Markets’ rates the stock as ‘Overweight’
In other news, Xie Ken, PRESIDENT & CEO sold 23,044 shares of the company’s stock on Jan 15 ’25. The stock was sold for $2,150,460 at an average price of $93.32. Upon completion of the transaction, the PRESIDENT & CEO now directly owns 49,039,698 shares in the company, valued at $4.56 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 14 ’25, PRESIDENT & CEO Xie Ken sold 23,013 shares of the business’s stock. A total of $2,123,333 was realized by selling the stock at an average price of $92.27. This leaves the insider owning 49,021,076 shares of the company worth $4.56 billion. A total of 17.50% of the company’s stock is owned by insiders.
During the past 12 months, Fortinet Inc has had a low of $54.57 and a high of $101.00. As of last week, the company has a debt-to-equity ratio of 1.09, a current ratio of 1.34, and a quick ratio of 1.25. According to the stock market information, the enterprise value for the company is $68702289920, which is based on a 46.91 price-to-earnings ratio, a 2.62 price-to-earnings-growth ratio, and a beta of 1.01. The fifty day moving average price for FTNT is $93.8178 and a two-hundred day moving average price translates $74.0651 for the stock.
The latest earnings results from Fortinet Inc (NASDAQ: FTNT) was released for 2024-09-30. The net profit margin was 26.79% and return on equity was 311.53% for FTNT. The company reported revenue of $1.51 billion for the quarter, compared to $1.33 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.0 percent.
