Wednesday, November 25, 2020

Fortinet Inc. [FTNT] Revenue clocked in at $2.26 billion, up 23.39% YTD: What’s Next?

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Fortinet Inc. [NASDAQ: FTNT] loss -4.29% on the last trading session, reaching $131.73 price per share at the time. Fortinet Inc. represents 170.60 million in outstanding shares, while the company has a total market value of $21.16 billion with the latest information. FTNT stock price has been found in the range of $131.34 to $137.97.

If compared to the average trading volume of 2.23M shares, FTNT reached a trading volume of 1240317 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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Here is what top equities market gurus are saying about Fortinet Inc. [FTNT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTNT shares is $131.53 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FTNT stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Monness Crespi & Hardt have made an estimate for Fortinet Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 07, 2020. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on May 04, 2020, representing the official price target for Fortinet Inc. stock.

The Average True Range (ATR) for Fortinet Inc. is set at 5.97, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 9.36. The Price to Book ratio for the last quarter was 41.95, with the Price to Cash per share for the same quarter was set at 8.72. Price to Free Cash Flow for FTNT in the course of the last twelve months was 25.91 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for FTNT stock

Fortinet Inc. [FTNT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.62. With this latest performance, FTNT shares dropped by -4.81% in over the last four-week period, additionally plugging by 27.21% over the last 6 months – not to mention a rise of 71.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FTNT stock in for the last two-week period is set at 46.70, with the RSI for the last a single of trading hit 39.28, and the three-weeks RSI is set at 51.85 for Fortinet Inc. [FTNT]. The present Moving Average for the last 50 days of trading for this stock 122.84, while it was recorded at 136.66 for the last single week of trading, and 103.50 for the last 200 days.

Fortinet Inc. [FTNT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Fortinet Inc. [FTNT] shares currently have an operating margin of +15.96 and a Gross Margin at +76.38. Fortinet Inc.’s Net Margin is presently recorded at +15.14.

Return on Total Capital for FTNT is now 28.95, given the latest momentum, and Return on Invested Capital for the company is 27.64. Return on Equity for this stock inclined to 28.00, with Return on Assets sitting at 9.38. When it comes to the capital structure of this company, Fortinet Inc. [FTNT] has a Total Debt to Total Equity ratio set at 3.49. Additionally, FTNT Total Debt to Total Capital is recorded at 3.37, with Total Debt to Total Assets ending up at 1.19. Long-Term Debt to Equity for the company is recorded at 2.31, with the Long-Term Debt to Total Capital now at 2.24.

Reflecting on the efficiency of the workforce at the company, Fortinet Inc. [FTNT] managed to generate an average of $46,103 per employee. Receivables Turnover for the company is 4.36 with a Total Asset Turnover recorded at a value of 0.62.Fortinet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

Fortinet Inc. [FTNT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Fortinet Inc. posted 0.58/share EPS, while the average EPS was predicted by analysts to be reported at 0.5/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FTNT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fortinet Inc. go to 18.13%.

An analysis of insider ownership at Fortinet Inc. [FTNT]

There are presently around $16,386 million, or 75.40% of FTNT stock, in the hands of institutional investors. The top three institutional holders of FTNT stocks are: VANGUARD GROUP INC with ownership of 17,691,911, which is approximately 1.746% of the company’s market cap and around 11.70% of the total institutional ownership; BLACKROCK INC., holding 11,184,107 shares of the stock with an approximate value of $1.54 billion in FTNT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $834.7 million in FTNT stock with ownership of nearly 5.451% of the company’s market capitalization.

265 institutional holders increased their position in Fortinet Inc. [NASDAQ:FTNT] by around 9,969,026 shares. Additionally, 333 investors decreased positions by around 14,846,113 shares, while 93 investors held positions by with 94,235,776 shares. The mentioned changes placed institutional holdings at 119,050,915 shares, according to the latest SEC report filing. FTNT stock had 73 new institutional investments in for a total of 1,304,044 shares, while 89 institutional investors sold positions of 2,995,635 shares during the same period.

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