Fortinet Inc [FTNT] moved up 0.58: Why It’s Important

Fortinet Inc [NASDAQ: FTNT] traded at a high on 11/27/23, posting a 0.58 gain after which it closed the day’ session at $53.74. The company report on November 13, 2023 at 9:00 AM that Media Advisory: Fortinet Returns to World Economic Forum’s Annual Meeting on Cybersecurity.

Fortinet delegation will contribute alongside the world’s foremost cybersecurity leaders and experts in efforts to make cyberspace safer and more resilient.

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The results of the trading session contributed to over 7095456 shares changing hands. Over the past one week, the price volatility of Fortinet Inc stands at 1.75% while the volatility over the past one month is 3.03%.

The market cap for FTNT stock reached $41.27 billion, with 781.50 million shares outstanding and 637.15 million shares in the current float. Compared to the average trading volume of 6.50M shares, FTNT reached a trading volume of 7095456 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 $56.51 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 2.17. 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.

HSBC Securities have made an estimate for Fortinet Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 06, 2023.

The Average True Range (ATR) for Fortinet Inc is set at 1.57, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 7.98. The Price to Book ratio for the last quarter was 563.02, with the Price to Cash per share for the same quarter was set at 4.13. Price to Free Cash Flow for FTNT in the course of the last twelve months was 20.00 with Quick ratio for the last quarter at 1.17.

How has FTNT stock performed recently?

Fortinet Inc [FTNT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.84. With this latest performance, FTNT shares dropped by -3.55% in over the last four-week period, additionally sinking by -20.70% over the last 6 months – not to mention a rise of 0.73% 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 50.89, with the RSI for the last a single of trading hit 59.20, and the three-weeks RSI is set at 46.81 for Fortinet Inc [FTNT]. The present Moving Average for the last 50 days of trading for this stock 55.89, while it was recorded at 52.93 for the last single week of trading, and 63.69 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 +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 1.17 and a Current Ratio set at 1.30.

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 16.06%.

Insider trade positions for Fortinet Inc [FTNT]

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%.