Momentum Is Strong For Fortinet Inc (NASDAQ: FTNT)

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Yahoo Finance discussed the stock recently as it posted Fortinet Reports Fourth Quarter and Full Year 2023 Financial Results.

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Stocks Info

Fortinet Inc is listed on the NASDAQ in the Technology sector while operating in the Software – Infrastructure industry. The current market capitalization of Fortinet Inc is $54.09B. A total of 7.52 million shares were traded on the day, compared to an average of 1.03 shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, FTNT has seen 0 BUY and 3 SELL insider trades, representing the acquisition of 0 and the disposition of 105,100 shares. Over the last 12 months, there were 89 BUYs and 49 SELLs from insiders. Insiders purchased 395,860 shares during that period but sold 457,721.

In the most recent transaction, Xie Michael sold 38,369 shares of FTNT for 66.45 per share on Feb 02. After the transaction, the VP, ENGINEERING & CTO now owns 29,887,018 company shares. In a previous transaction on Jan 10, Xie Ken sold 28,052 shares at 60.20 per share. FTNT shares that President & CEO owns now total 51,756,373.

Among the insiders who sold shares, Xie Ken disposed of 46,733 shares on Jan 09 at a per-share price of $60.12. This resulted in the President & CEO holding 51,701,091 shares of FTNT after the transaction. In another insider transaction, Perche Patrice sold 7,535 shares at $58.22 per share on Dec 21. Company shares held by the Chief Revenue Off./EVP Supp. now total 25,730.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for FTNT in the last 3 months, the mean price target is $76.04 with high estimates of $90.00 and low estimates of $55.11. In terms of 52-week highs and lows, FTNT has a high of $81.24 and a low of $44.12.

As of this writing, FTNT has an earnings estimate of $Future FinTech Group Inc. per share for the current quarter. EPS was calculated based on a consensus of Fortinet, Inc. estimates, with a high estimate of $Xtant Medical Holdings, Inc. per share and a lower estimate of $Cheetah Net Supply Chain Servic.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information. FTNT’s latest balance sheet shows that the firm has $2.55B in Cash & Short Term Investments as of fiscal 2021. There were $988.40M in debt and $2.32B in liabilities at the time. Its Book Value Per Share was $0.10, while its Total Shareholder’s Equity was $798.40M.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 0 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 Buy with a score of 3.63.

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