Fortinet Inc. [NASDAQ: FTNT] jumped around 1.35 points on Thursday, while shares priced at $49.21 at the close of the session, up 2.82%. The company report on December 28, 2022 that Fortinet Named a Visionary in the 2022 Gartner® Magic Quadrant™ for Enterprise Wired and Wireless LAN Infrastructure for Third Consecutive Year.
Fortinet’s Wired and Wireless LAN Portfolio Converges Networking and Security to Help Customers Embrace Digital Acceleration and Reduce Cyber Risks.
Fortinet Inc. stock is now -31.54% down from its year-to-date (YTD) trading value. FTNT Stock saw the intraday high of $49.37 and lowest of $48.00 per share. The company’s 52-week high price is 74.35, which means current price is +15.49% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 5.36M shares, FTNT reached a trading volume of 2667676 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $65.17 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 1.80. 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.
Robert W. Baird have made an estimate for Fortinet Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 19, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $66 to $69. The new note on the price target was released on October 10, 2022, representing the official price target for Fortinet Inc. stock. Previously, the target price had yet another raise to $70, while SMBC Nikko analysts kept a Outperform rating on FTNT stock.
The Average True Range (ATR) for Fortinet Inc. is set at 1.82, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 9.46. Price to Free Cash Flow for FTNT in the course of the last twelve months was 33.21 with Quick ratio for the last quarter at 1.00.
How has FTNT stock performed recently?
Fortinet Inc. [FTNT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.60. With this latest performance, FTNT shares dropped by -4.61% in over the last four-week period, additionally sinking by -13.03% over the last 6 months – not to mention a drop of -32.91% 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 42.46, with the RSI for the last a single of trading hit 40.79, and the three-weeks RSI is set at 44.24 for Fortinet Inc. [FTNT]. The present Moving Average for the last 50 days of trading for this stock 52.49, while it was recorded at 48.70 for the last single week of trading, and 55.84 for the last 200 days.
Fortinet Inc. [FTNT]: Deeper insight into the 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 analysis for Fortinet Inc. [FTNT]
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 23.38%.
Insider trade positions for Fortinet Inc. [FTNT]
There are presently around $25,245 million, or 67.80% of FTNT stock, in the hands of institutional investors. The top three institutional holders of FTNT stocks are: VANGUARD GROUP INC with ownership of 67,097,669, which is approximately -0.412% of the company’s market cap and around 12.00% of the total institutional ownership; BLACKROCK INC., holding 51,735,388 shares of the stock with an approximate value of $2.55 billion in FTNT stocks shares; and STATE STREET CORP, currently with $1.26 billion in FTNT stock with ownership of nearly -1.266% of the company’s market capitalization.
Positions in Fortinet Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 403 institutional holders increased their position in Fortinet Inc. [NASDAQ:FTNT] by around 59,869,166 shares. Additionally, 484 investors decreased positions by around 82,537,369 shares, while 127 investors held positions by with 370,595,267 shares. The mentioned changes placed institutional holdings at 513,001,802 shares, according to the latest SEC report filing. FTNT stock had 84 new institutional investments in for a total of 23,822,307 shares, while 113 institutional investors sold positions of 17,575,206 shares during the same period.