Fortinet Inc. [NASDAQ: FTNT] closed the trading session at $63.50 on 09/12/23. The day’s price range saw the stock hit a low of $63.47, while the highest price level was $65.68. The company report on September 11, 2023 at 9:00 AM that Fortinet and Wiz Team Up to Protect Enterprise Cloud Workload Environments.
Technology alliance partnership between industry leaders aims to deliver cloud-native security protections for joint customers.
The stocks have a year to date performance of 29.88 percent and weekly performance of 2.57 percent. The stock has been moved at 7.14 percent over the last six months. The stock has performed 6.40 percent around the most recent 30 days and changed -9.08 percent over the most recent 3-months.
If compared to the average trading volume of 6.30M shares, FTNT reached to a volume of 5315340 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 $74.36 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 2.00. 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.
Guggenheim have made an estimate for Fortinet Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 07, 2023.
The Average True Range (ATR) for Fortinet Inc. is set at 1.70, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 9.86. The Price to Book ratio for the last quarter was 154.88, with the Price to Cash per share for the same quarter was set at 4.28. Price to Free Cash Flow for FTNT in the course of the last twelve months was 24.86 with Quick ratio for the last quarter at 1.30.
FTNT stock trade performance evaluation
Fortinet Inc. [FTNT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.57. With this latest performance, FTNT shares gained by 6.40% in over the last four-week period, additionally plugging by 7.14% over the last 6 months – not to mention a rise of 18.49% 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 51.63, with the RSI for the last a single of trading hit 57.92, and the three-weeks RSI is set at 48.26 for Fortinet Inc. [FTNT]. The present Moving Average for the last 50 days of trading for this stock 67.89, while it was recorded at 63.61 for the last single week of trading, and 62.38 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 +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 1.30 and a Current Ratio set at 1.40.
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 17.88%.
Fortinet Inc. [FTNT]: Institutional Ownership
The top three institutional holders of FTNT stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in FTNT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in FTNT stock with ownership which is approximately 5.7381%.