A new trading day began on Monday, with Fortinet Inc (NASDAQ: FTNT) stock price up 0.28% from the previous day of trading, before settling in for the closing price of $95.05. FTNT’s price has ranged from $50.65 to $100.59 over the past 52 weeks.
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Over the past five-year period, the growth rate of yearbook sales for the company of the Technology sector was 24.22%. Meanwhile, its annual earnings per share averaged 37.74%. With a float of $632.08 million, this company’s outstanding shares have now reached $765.70 million.
Considering the fact that the conglomerate employs 13568 people, you should pay attention to its efficiency factor. In terms of profitability, gross margin is 79.71%, operating margin of 28.23%, and the pretax margin is 32.49%.
Fortinet Inc (FTNT) Insider Activity
As we move forward, let’s examine how large-scale investors are investing in this stock of the Software – Infrastructure Industry. The insider ownership of Fortinet Inc is 17.53%, while institutional ownership is 66.65%. The most recent insider transaction that took place on Nov 26 ’24, was worth 1,688,337. In this transaction Chief Financial Officer of this company sold 17,650 shares at a rate of $95.66, taking the stock ownership to the 4,689 shares. Before that another transaction happened on Nov 19 ’24, when Company’s Chief Financial Officer sold 4,250 for $90.83, making the entire transaction worth $386,013. This insider now owns 4,689 shares in total.
Fortinet Inc (FTNT) Earnings and Forecasts
In its latest quarterly report, released on 9/30/2024, the company reported earnings of 0.51 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.53 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 37.74% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 17.59% during the next five years compared to 30.73% growth over the previous five years of trading.
Fortinet Inc (NASDAQ: FTNT) Trading Performance Indicators
Here are Fortinet Inc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 1.25. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 12.93. Likewise, its price to free cash flow for the trailing twelve months is 44.37.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 1.98, a number that is poised to hit 0.61 in the next quarter and is forecasted to reach 2.43 in one year’s time.
Technical Analysis of Fortinet Inc (FTNT)
Compared to the last year’s volume of 5.48 million, its volume of 4.77 million showed lagged in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 70.82%. Additionally, its Average True Range was 2.63.
During the past 100 days, Fortinet Inc’s (FTNT) raw stochastic average was set at 88.55%, which indicates a significant increase from 51.74% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 31.03% in the past 14 days, which was lower than the 44.79% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $84.35, while its 200-day Moving Average is $70.21. Nevertheless, the first resistance level for the watch stands at $96.69 in the near term. At $98.06, the stock is likely to face the second major resistance level. The third major resistance level sits at $98.94. If the price goes on to break the first support level at $94.44, it is likely to go to the next support level at $93.56. Should the price break the second support level, the third support level stands at $92.19.
Fortinet Inc (NASDAQ: FTNT) Key Stats
With a market capitalization of 73.83 billion, the company has a total of 766,453K Shares Outstanding. Currently, annual sales are 5,305 M while annual income is 1,148 M. The company’s previous quarter sales were 1,508 M while its latest quarter income was 539,900 K.
