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Wednesday, March 22, 2023

Taking On Challenges And Growing? – Fortinet Inc. (FTNT)

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Fortinet Inc. (FTNT) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.02, or 0.03%, to $60.86. The Fortinet Inc. has recorded 326,290 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Fortinet Named a Visionary in the 2022 Gartner® Magic Quadrant™ for Endpoint Protection Platforms.

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Stocks Info

This NASDAQ-listed company operates within the Software – Infrastructure industry segment, falling under the Technology sector. At the end of the last regular session, the stock closed at $60.84 and fluctuated between $60.90 as its day high and $59.55 as its day low. The current market capitalization of Fortinet Inc. is $46.76B. A total of 3.87 million shares were traded on the day, compared to an average of 5.25M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, FTNT has seen 29 BUY and 9 SELL insider trades, representing the acquisition of 15,371,838 and the disposition of 15,291,747 shares. Over the last 12 months, there were 104 BUYs and 59 SELLs from insiders. Insiders purchased 15,928,532 shares during that period but sold 15,482,965.

In the most recent transaction, Jensen Keith sold 98,374 shares of FTNT for 60.18 per share on Feb 23. After the transaction, the CFO & Chief Accounting Officer now owns 4,569 company shares. In a previous transaction on Feb 21, Perche Patrice sold 11,035 shares at 59.75 per share. FTNT shares that Chief Revenue Off./EVP Supp. owns now total 25,730.

Among the insiders who sold shares, Perche Patrice disposed of 575,494 shares on Feb 09 at a per-share price of $58.97. This resulted in the Chief Revenue Off./EVP Supp. holding 25,730 shares of FTNT after the transaction. In another insider transaction, Xie Michael sold 240,046 shares at $53.72 per share on Feb 02. Company shares held by the VP, Engineering & CTO now total 29,727,018.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for FTNT in the last 3 months, the mean price target is $71.10 with high estimates of $85.00 and low estimates of $55.00. In terms of 52-week highs and lows, FTNT has a high of $71.52 and a low of $42.61.

As of this writing, FTNT has an earnings estimate of $0.28 per share for the current quarter. EPS was calculated based on a consensus of 31 estimates, with a high estimate of $0.29 per share and a lower estimate of $0.27. The company reported an EPS of $0.33 in the last quarter, which was 22.20% higher than expectations of $0.27.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 35 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for FTNT is Sell with a score of 4.30. A total of 19 analysts rated the stock as Buy while 5 rated it as Overweight while 11 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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