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Fortinet Inc. (NASDAQ:FTNT) Currently -51.92% Below Its 52-Week High But The Downside Potential May Surprise You

In recent trading session, Fortinet Inc. (NASDAQ:FTNT) saw 1.12 million shares changing hands at last check today with its beta currently measuring 1.20. Company’s recent per share price level of $48.94 trading at -$0.86 or -1.73% at last check today assigns it a market valuation of $39.58B. That most recent trading price of FTNT’s stock is at a discount of -51.92% from its 52-week high price of $74.35 and is indicating a premium of 3.21% from its 52-week low price of $47.37. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.76 million shares which gives us an average trading volume of 5.34 million if we extend that period to 3-months.

For Fortinet Inc. (FTNT), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 29 analysts covering the stock, 0 rated the stock as a Sell while 3 recommended an Overweight rating for the stock. 8 suggested the stock as a Hold whereas 18 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.27 in the current quarter.

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Fortinet Inc. (NASDAQ:FTNT) trade information

Upright in the red during last session for losing -1.73%, in the last five days FTNT remained trading in the red while hitting it’s week-highest on Wednesday, 09/21/22 when the stock touched $48.94 price level, adding 5.52% to its value on the day. Fortinet Inc.’s shares saw a change of -30.72% in year-to-date performance and have moved -4.12% in past 5-day. Fortinet Inc. (NASDAQ:FTNT) showed a performance of -1.03% in past 30-days. Number of shares sold short was 9.12 million shares which calculate 1.5 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $71.42 to the stock, which implies a rise of 31.48% to its recent value today. Analysts have been projecting $60.00 as a low price target for the stock while placing it at a high target of $85.00. It follows that stock’s current price would drop -73.68% in reaching the projected high whereas dropping to the targeted low would mean a loss of -22.6% for stock’s current value.

Fortinet Inc. (FTNT) estimates and forecasts

Statistics highlight that Fortinet Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -23.55% of value to its shares in past 6 months, showing an annual growth rate of 31.25% while that of industry is 6.60. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 35.00% in the current quarter and calculating 40.00% increase in the next quarter. This year revenue growth is estimated to rise 31.10% from the last financial year’s standing.

23 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.12 billion for the same. And 23 analysts are in estimates of company making revenue of $1.27 billion in the next quarter that will end on Dec 2022. Company posted $811.5 million and $963.6 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 38.40% while estimating it to be 32.10% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 81.90% during past 5 years. In 2022, company’s earnings growth rate is likely to be around 24.70% while estimates for its earnings growth in next 5 years are of 23.48%.

FTNT Dividends

Fortinet Inc. is more likely to be releasing its next quarterly report between November 02 and November 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Fortinet Inc. (NASDAQ:FTNT)’s Major holders

Insiders are in possession of 18.74% of company’s total shares while institution are holding 70.31 percent of that, with stock having share float percentage of 86.53%. Investors also watch the number of corporate investors in a company very closely, which is 70.31% institutions for Fortinet Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at FTNT for having 67.38 million shares of worth $3.3 billion. And as of Jun 29, 2022, it was holding 8.54% of the company’s outstanding shares.

The second largest institutional holder is Price (T.Rowe) Associates Inc, which was holding about 53.0 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 6.72% of outstanding shares, having a total worth of $2.59 billion.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 20.09 million shares of worth $982.89 million or 2.55% of the total outstanding shares. The later fund manager was in possession of 14.75 million shares on Jun 29, 2022, making its stake of worth around $721.53 million in the company or a holder of 1.87% of company’s stock.

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