Fortinet Inc (NASDAQ:FTNT): Buy, Sell Or Hold At $70.15?

In recent trading session, Fortinet Inc (NASDAQ:FTNT) saw 1.92 million shares changing hands at last check today with its beta currently measuring 1.08. Company’s recent per share price level of $70.15 trading at $2.3 or 3.40% at last check today assigns it a market valuation of $53.87B. That most recent trading price of FTNT’s stock is at a discount of -15.81% from its 52-week high price of $81.24 and is indicating a premium of 37.11% from its 52-week low price of $44.12. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 10.09 million shares which gives us an average trading volume of 7.04 million if we extend that period to 3-months.

Fortinet Inc (NASDAQ:FTNT) trade information

Upright in the green today for gaining 3.40%, in the last five days FTNT remained trading in the green while hitting it’s week-highest on Wednesday, 02/07/24 when the stock touched $70.15 price level, adding 5.09% to its value on the day. Fortinet Inc’s shares saw a change of 19.86% in year-to-date performance and have moved 5.59% in past 5-day. Fortinet Inc (NASDAQ:FTNT) showed a performance of 14.31% in past 30-days. Number of shares sold short was 11.58 million shares which calculate 1.85 days to cover the short interests.

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Fortinet Inc (FTNT) estimates and forecasts

Statistics highlight that Fortinet Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 15.84% of value to its shares in past 6 months, showing an annual growth rate of 1.84% while that of industry is 20.90. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 11.80% in the current quarter and calculating 5.30% increase in the next quarter. This year revenue growth is estimated to rise 9.40% from the last financial year’s standing.

32 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.34 billion for the same. And 32 analysts are in estimates of company making revenue of $1.39 billion in the next quarter that will end on Jun 2024. Company posted $1.26 billion and $1.29 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 6.00% while estimating it to be 7.80% 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 30.80% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 4.64% while estimates for its earnings growth in next 5 years are of 16.41%.

FTNT Dividends

Fortinet Inc is more likely to be releasing its next quarterly report between May 02 and May 06 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.

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