FTNT stock has undergone multiple analysts rating changes in the recent past. Fortinet stock Target Raised by Barclays PLC on 10/13/2021. In a note to investors, the firm issued a new target price of $320.00. The analysts previously had $305.00 target price. Barclays PLC’s price target would indicate a potential upside of 4.38% from the stock’s previous close.
Shares of Fortinet traded up $6.60 on Tuesday, reaching $313.18. 117985 shares of the stock traded hands, compared to its average volume of 946502. On Tuesday, Shares of Fortinet closed at $313.18. The firm’s 50 day moving average is $303.85 and its 200 day moving average is $225.63.Fortinet has a 12 month low of $106.75 and a 12 month high of $322.00. While on yearly highs and lows, Fortinet today has traded high as $314.00 and has touched $308.01 on the downward trend.
Fortinet Earnings and What to expect:
Fortinet last announced its earnings data on July 29th, 2021. The software maker reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.07. The company earned $801.10 million during the quarter, compared to analyst estimates of $741.76 million. Fortinet has generated $2.44 earnings per share over the last year ($3.10 diluted earnings per share) and currently has a price-to-earnings ratio of 100.7. Earnings for Fortinet are expected to grow by 16.90% in the coming year, from $2.84 to $3.32 per share. Fortinet has confirmed that its next quarterly earnings report will be published on Thursday, November 4th, 2021. Fortinet will be holding an earnings conference call on Thursday, November 4th at 4:30 PM Eastern. Interested parties can or dial in at 404-537-3406 with passcode “2990496”.
Earnings for Fortinet are expected to grow by 16.90% in the coming year, from $2.84 to $3.32 per share. The P/E ratio of Fortinet is 98.90, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 14.79. The P/E ratio of Fortinet is 98.90, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 39.02. Fortinet has a PEG Ratio of 7.68. PEG Ratios above 1 indicate that a company could be overvalued. Fortinet has a P/B Ratio of 58.17. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
Fortinet (NASDAQ:FTNT) Moving Average Technical Analysis
5 day Moving Average is $$308.23 And 5 day price change is $9.19 (3.05%) with average volume for 5 day average is 446,441. While technical analysis for average 20 days shows significant difference, 20 day moving average is $301.10 and 20 day price change is $9.46 (3.14%) and average 20 day moving volume is 831,960. 50 day moving average is $303.85 and 50 day price change is $13.23 ( 4.44%) and with average volume for 50 days is : 901,614. 200 day moving average is $225.63 and 200 day price change is $161.70 (108.31%) and with average volume for 200 days is : 1,048,877.
Other owners latest trading in FTNT :
- On 10/13/2021 shares held by JGP Wealth Management LLC were 2,851 which equates to market value of $0.83M and appx 0.20% owners of FTNT
- On 10/13/2021 shares held by Capital CS Group LLC were 2,711 which equates to market value of $0.81M and appx 0.70% owners of FTNT
- On 10/13/2021 shares held by IFM Investors Pty Ltd were 19,537 which equates to market value of $5.71M and appx 0.10% owners of FTNT
- In total Institutional ownership equates to Institutional Ownership Percentage: 68.50% for FTNT
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