Fortinet Inc (NASDAQ:FTNT)’s traded shares stood at 1.09 million during the latest session, with the company’s beta value hitting 1.17. At the last check today, the stock’s price was $106.18, to imply an increase of 2.34% or $2.42 in intraday trading. The FTNT share’s 52-week high remains $114.82, putting it -8.14% down since that peak but still an impressive 48.61% since price per share fell to its 52-week low of $54.57. The company has a valuation of $81.65B, with an average of 3.98 million shares in intraday trading volume over the past 10 days and average of 5.13 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Fortinet Inc (FTNT), translating to a mean rating of 2.47. Of 24 analyst(s) looking at the stock, 1 analyst(s) give FTNT a Sell rating. 0 of those analysts rate the stock as Overweight while 9 advise Hold as 14 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.53.
Fortinet Inc (NASDAQ:FTNT) trade information
After registering a 2.34% upside in the latest session, Fortinet Inc (FTNT) has traded red over the past five days. The 5-day price performance for the stock is 5.43%, and 9.84% over 30 days. With these gigs, the year-to-date price performance is 12.39%. Short interest in Fortinet Inc (NASDAQ:FTNT) saw shorts transact 19.26 million shares and set a 3.42 days time to cover.
The extremes give us $85 and $123 for target low and target high price respectively. As such, FTNT has been trading -15.84% off suggested target high and 19.95% from its likely low.
Fortinet Inc (FTNT) estimates and forecasts
The rating firms project that company’s revenue will grow 13.51% compared to the previous financial year.
Revenue forecast for the current quarter as set by 35 analysts is 1.54B. Meanwhile, for the current quarter, a total of 34 analyst(s) estimate revenue growth to 1.63B.Earnings reports from the last fiscal year show that sales brought in 1.35B and 1.43B respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 13.85% before jumping 13.55% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 42.92% for the past 5-year period. While 2025 is set for a 3.21% return in earnings, projections for the next 5 years are at 9.34% annually.
FTNT Dividends
Fortinet Inc has its next earnings report out on 2025-Feb-05. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Fortinet Inc (NASDAQ:FTNT)’s Major holders
Fortinet Inc insiders hold 16.98% of total outstanding shares, with institutional holders owning 71.65% of the shares at 86.31% float percentage. In total, 71.65% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 66.87 million shares (or 8.7548% of shares), all amounting to roughly $4.03 billion.
The next major institution holding the largest number of shares is BLACKROCK INC. with 55.24 million shares, or about 7.2318% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $3.33 billion.
We also have VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund and VANGUARD INDEX FUNDS-Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Fortinet Inc (FTNT) shares. Going by data provided on Dec 31, 2024 , VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund holds roughly 19.2 shares. This is just over 2.51% of the total shares, with a market valuation of $2.04 billion. Data from the same date shows that the other fund manager holds a little less at 17.22, or 2.25% of the shares, all valued at about 1.83 billion.
