Fortinet Inc. [NASDAQ: FTNT] loss -2.18% on the last trading session, reaching $61.44 price per share at the time. The company report on April 25, 2023 at 11:00 AM that Fortinet Achieves a 99.88% Security Effectiveness Score on the Industry’s Only Independent, Third-Party Next-Generation Firewall Test.
FortiGate 600F series earned near-perfect ‘AAA’ ranking across all four scoring categories, showcasing industry-leading performance at a lower price per Mbps than competitors.
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Fortinet Inc. represents 780.60 million in outstanding shares, while the company has a total market value of $48.18 billion with the latest information. FTNT stock price has been found in the range of $61.01 to $62.83.
If compared to the average trading volume of 4.66M shares, FTNT reached a trading volume of 5427823 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $72.12 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 2.10. 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.
Rosenblatt have made an estimate for Fortinet Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 02, 2023. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on April 21, 2023, representing the official price target for Fortinet Inc. stock. Previously, the target price had yet another raise to $73, while Goldman analysts kept a Buy rating on FTNT stock.
The Average True Range (ATR) for Fortinet Inc. is set at 1.55, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 10.91. Price to Free Cash Flow for FTNT in the course of the last twelve months was 33.24 with Quick ratio for the last quarter at 1.20.
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 -2.74. With this latest performance, FTNT shares dropped by -7.55% in over the last four-week period, additionally plugging by 7.60% over the last 6 months – not to mention a rise of 6.29% 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 33.68, with the RSI for the last a single of trading hit 21.07, and the three-weeks RSI is set at 42.19 for Fortinet Inc. [FTNT]. The present Moving Average for the last 50 days of trading for this stock 63.20, while it was recorded at 62.75 for the last single week of trading, and 55.28 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 +21.85 and a Gross Margin at +74.91. Fortinet Inc.’s Net Margin is presently recorded at +19.41.
Return on Total Capital for FTNT is now 72.61, given the latest momentum, and Return on Invested Capital for the company is 66.41. Return on Equity for this stock inclined to 342.85, with Return on Assets sitting at 14.12. Additionally, FTNT Total Debt to Total Capital is recorded at 135.00, with Total Debt to Total Assets ending up at 17.44.
Reflecting on the efficiency of the workforce at the company, Fortinet Inc. [FTNT] managed to generate an average of $68,067 per employee. Receivables Turnover for the company is 4.27 with a Total Asset Turnover recorded at a value of 0.73.Fortinet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Fortinet Inc. [FTNT]: An earnings per share (EPS) analysis
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 19.05%.
An analysis of insider ownership at Fortinet Inc. [FTNT]
There are presently around $32,065 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 67,373,952, which is approximately 0.412% of the company’s market cap and around 12.00% of the total institutional ownership; BLACKROCK INC., holding 50,585,364 shares of the stock with an approximate value of $3.11 billion in FTNT stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $1.63 billion in FTNT stock with ownership of nearly 14.982% of the company’s market capitalization.
Positions in Fortinet Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 460 institutional holders increased their position in Fortinet Inc. [NASDAQ:FTNT] by around 54,678,594 shares. Additionally, 471 investors decreased positions by around 43,541,939 shares, while 118 investors held positions by with 423,667,319 shares. The mentioned changes placed institutional holdings at 521,887,852 shares, according to the latest SEC report filing. FTNT stock had 138 new institutional investments in for a total of 18,315,626 shares, while 86 institutional investors sold positions of 6,937,003 shares during the same period.