Fortinet Inc [FTNT] is 3.25% higher this YTD. Is it still time to buy?

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Fortinet Inc [NASDAQ: FTNT] closed the trading session at $50.48 on 11/03/23. The day’s price range saw the stock hit a low of $44.12, while the highest price level was $50.57. The company report on November 2, 2023 at 4:05 PM that Fortinet Sharpens Business Focus on Core Growth Areas to Extend Leadership Position and Drive Continued Innovation in Cybersecurity.

Concentration on Secure Networking, Universal SASE, and Security Operations markets, including strategic R&D and GTM investments, will accelerate Fortinet’s global business expansion.

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The stocks have a year to date performance of 3.25 percent and weekly performance of -10.27 percent. The stock has been moved at -21.85 percent over the last six months. The stock has performed -13.00 percent around the most recent 30 days and changed -12.51 percent over the most recent 3-months.

If compared to the average trading volume of 6.40M shares, FTNT reached to a volume of 38044301 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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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 $59.53 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 2.10. 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.

William Blair have made an estimate for Fortinet Inc shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on November 03, 2023.

The Average True Range (ATR) for Fortinet Inc is set at 2.26, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 7.66. The Price to Book ratio for the last quarter was 123.47, with the Price to Cash per share for the same quarter was set at 4.03. Price to Free Cash Flow for FTNT in the course of the last twelve months was 19.21 with Quick ratio for the last quarter at 1.17.

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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 -10.27. With this latest performance, FTNT shares dropped by -13.00% in over the last four-week period, additionally sinking by -21.85% over the last 6 months – not to mention a drop of -5.17% 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 26.04, with the RSI for the last a single of trading hit 21.06, and the three-weeks RSI is set at 29.85 for Fortinet Inc [FTNT]. The present Moving Average for the last 50 days of trading for this stock 59.05, while it was recorded at 55.77 for the last single week of trading, and 63.82 for the last 200 days.

Fortinet Inc [FTNT]: An insightful look at the core fundamentals

Fortinet Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.17 and a Current Ratio set at 1.30.

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 16.96%.

Fortinet Inc [FTNT]: Institutional Ownership

The top three institutional holders of FTNT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in FTNT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in FTNT stock with ownership which is approximately 5.7994%.

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