Fortinet Inc. [NASDAQ: FTNT] closed the trading session at $50.46 on 10/17/22. The day’s price range saw the stock hit a low of $49.67, while the highest price level was $50.74. The company report on October 17, 2022 that Fortinet Announced as Official Cybersecurity Partner of the BMW Ladies Championship in 2022.
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The 2022 BMW Ladies Championship will take place at Oak Valley Country Club from October 20-23, where 78 players, including 68-top class LPGA Tour players will compete for a prize fund of $2,000,000. The Tournament began in 2016 as an LPGA of Korea Tour event and became a co-sanctioned LPGA event in 2019. It remains as the only LPGA event in Korea. World No.1 and Seoul native, Jin Young Ko will return to Oak Valley Country Club in October as defending champion after beating fellow Korean Heejeong Lim in a playoff last year to secure her third victory at this event.
The stocks have a year to date performance of -29.80 percent and weekly performance of -1.50 percent. The stock has been moved at -23.64 percent over the last six months. The stock has performed 0.08 percent around the most recent 30 days and changed -14.76 percent over the most recent 3-months.
If compared to the average trading volume of 5.41M shares, FTNT reached to a volume of 5593498 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $70.64 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 1.90. 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.
Morgan Stanley have made an estimate for Fortinet Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 10, 2022. While these analysts kept the previous recommendation, SMBC Nikko raised their target price to Outperform. The new note on the price target was released on October 07, 2022, representing the official price target for Fortinet Inc. stock. Previously, the target price had yet another raise to $70, while MKM Partners analysts kept a Buy rating on FTNT stock.
The Average True Range (ATR) for Fortinet Inc. is set at 2.15, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 10.66. Price to Free Cash Flow for FTNT in the course of the last twelve months was 36.90 with Quick ratio for the last quarter at 1.00.
FTNT stock trade performance evaluation
Fortinet Inc. [FTNT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.50. With this latest performance, FTNT shares gained by 0.08% in over the last four-week period, additionally sinking by -23.64% over the last 6 months – not to mention a drop of -19.98% 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 49.78, with the RSI for the last a single of trading hit 51.47, and the three-weeks RSI is set at 48.55 for Fortinet Inc. [FTNT]. The present Moving Average for the last 50 days of trading for this stock 50.85, while it was recorded at 48.92 for the last single week of trading, and 58.17 for the last 200 days.
Fortinet Inc. [FTNT]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Fortinet Inc. [FTNT] shares currently have an operating margin of +19.32 and a Gross Margin at +76.02. Fortinet Inc.’s Net Margin is presently recorded at +18.16.
Return on Equity for this stock inclined to 74.10, with Return on Assets sitting at 12.18.
Fortinet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.10.
Earnings per share (EPS) analysis for Fortinet Inc. [FTNT] stock
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 23.48%.
Fortinet Inc. [FTNT]: Insider Ownership positions
There are presently around $27,039 million, or 70.30% of FTNT stock, in the hands of institutional investors. The top three institutional holders of FTNT stocks are: VANGUARD GROUP INC with ownership of 67,375,293, which is approximately -0.921% of the company’s market cap and around 11.90% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 52,995,764 shares of the stock with an approximate value of $2.67 billion in FTNT stocks shares; and BLACKROCK INC., currently with $2.67 billion in FTNT stock with ownership of nearly -8.541% of the company’s market capitalization.
412 institutional holders increased their position in Fortinet Inc. [NASDAQ:FTNT] by around 42,272,583 shares. Additionally, 503 investors decreased positions by around 44,270,235 shares, while 107 investors held positions by with 449,314,032 shares. The mentioned changes placed institutional holdings at 535,856,850 shares, according to the latest SEC report filing. FTNT stock had 98 new institutional investments in for a total of 6,547,106 shares, while 94 institutional investors sold positions of 3,508,323 shares during the same period.