Fortinet Inc [NASDAQ: FTNT] stock went on a downward path that fall over -1.60% on Monday, amounting to a one-week price decrease of less than -0.27%.
Over the last 12 months, FTNT stock dropped by -19.48%. The one-year Fortinet Inc stock forecast points to a potential upside of 15.8. The average equity rating for FTNT stock is currently 2.39, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $45.92 billion, with 761.00 million shares outstanding and 629.86 million shares in the current float. Compared to the average trading volume of 5.46M shares, FTNT stock reached a trading volume of 4821417 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $71.39 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 2.39. 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 1.38, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 8.51. Price to Free Cash Flow for FTNT in the course of the last twelve months was 27.13 with Quick ratio for the last quarter at 1.08.
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 -0.27. With this latest performance, FTNT shares gained by 0.67% in over the last four-week period, additionally plugging by 2.95% over the last 6 months – not to mention a drop of -19.48% 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 50.06, with the RSI for the last a single of trading hit 51.23, and the three-weeks RSI is set at 48.57 for Fortinet Inc [FTNT]. The present Moving Average for the last 50 days of trading for this stock 60.35, while it was recorded at 60.56 for the last single week of trading, and 61.16 for the last 200 days.
Insight into Fortinet Inc Fundamentals:
Fortinet Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.08 and a Current Ratio set at 1.20.
FTNT Stock EPS
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 10.71%.
Fortinet Inc [FTNT] Institutonal Ownership Details
The top three institutional holders of FTNT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in FTNT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in FTNT stock with ownership which is approximately 5.1238%.
