Fortinet Inc [NASDAQ: FTNT] price plunged by -1.63 percent to reach at -$1.16. The company report on March 11, 2024 at 11:15 AM that Fortinet Recognized as a Leader in the 2024 Gartner® Magic Quadrant™ for Enterprise Wired and Wireless LAN Infrastructure.
Fortinet delivers a range of secure and integrated WLAN/LAN solutions, such as data center, smart campus, cyber physical, SD-Branch, microbranch with SASE, and hybrid workforce environments.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The one-year FTNT stock forecast points to a potential upside of 8.89. The average equity rating for FTNT stock is currently 2.48, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $77.03 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 2.48. 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.
Daiwa Securities have made an estimate for Fortinet Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 13, 2024. The new note on the price target was released on February 08, 2024, representing the official price target for Fortinet Inc stock. Previously, the target price had yet another raise to $57, while HSBC Securities analysts kept a Reduce rating on FTNT stock.
The Average True Range (ATR) for Fortinet Inc is set at 2.09, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 10.09. Price to Free Cash Flow for FTNT in the course of the last twelve months was 30.93 with Quick ratio for the last quarter at 1.06.
FTNT Stock Performance Analysis:
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 -0.11% in over the last four-week period, additionally plugging by 10.52% over the last 6 months – not to mention a rise of 18.41% 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 53.84, with the RSI for the last a single of trading hit 50.63, and the three-weeks RSI is set at 55.69 for Fortinet Inc [FTNT]. The present Moving Average for the last 50 days of trading for this stock 66.30, while it was recorded at 71.48 for the last single week of trading, and 63.34 for the last 200 days.
Insight into Fortinet Inc Fundamentals:
Fortinet Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.06 and a Current Ratio set at 1.19.
FTNT Stock EPS
With the latest financial reports released by the company, Fortinet Inc posted 0.34/share EPS, while the average EPS was predicted by analysts to be reported at 0.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.20%. 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 14.62%.
Fortinet Inc [FTNT] Institutonal Ownership Details
The top three institutional holders of FTNT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FTNT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FTNT stock with ownership which is approximately 5.8325%.
