The trading price of Fortinet Inc (NASDAQ:FTNT) closed lower on Tuesday, July 16, closing at $59.48, -0.70% lower than its previous close.
The company’s P/E ratio in the trailing 12-month period was 38.78. In examining the 52-week price action we see that the stock hit a 52-week high of $81.24 and a 52-week low of $44.12. Over the past month, the stock has lost -1.25% in value.
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Fortinet Inc, whose market valuation is $45.44 billion at the time of this writing. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest FTNT has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 50% Sell.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 3.62, which symbolizes a positive outlook. A quick review shows that FTNT’s price is currently -0.34% off the SMA20 and -0.75% off the SMA50. The RSI metric on the 14-day chart is currently showing 47.40, and weekly volatility stands at 2.09%. When measured over the past 30 days, the indicator reaches 2.17%. Fortinet Inc (NASDAQ:FTNT)’s beta value is currently sitting at 0.97, while the Average True Range indicator is currently displaying 1.33.
To see how Fortinet Inc stock has been performing in comparison to its peers in the industry, here are the numbers: FTNT stock’s performance was -0.70% in the latest trading, and -24.63% in the past year. Fortinet Inc has a P/E ratio of 38.78.
An evaluation of the daily trading volume of Fortinet Inc (NASDAQ:FTNT) indicates that the 3-month average is 5.47 million.
Currently, records show that 761.00 million of the company’s shares remain outstanding. The insiders hold 17.55% of outstanding shares, whereas institutions hold 68.08%. However, since the stock’s price has seen 1.62% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
