Fortinet Inc [NASDAQ: FTNT] plunged by -$0.92 during the normal trading session on while it closed the day at $77.92.
Fortinet Inc stock has also loss -1.83% of its value over the past 7 days. However, FTNT stock has inclined by 11.43% in the 3 months of the year. Over the past six months meanwhile, it has gained 31.11% and gained 33.13% year-on date.
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The market cap for FTNT stock reached $59.60 billion, with 761.00 million shares outstanding and 630.88 million shares in the current float. Compared to the average trading volume of 4.72M shares, FTNT reached a trading volume of 4392438 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 $78.26 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 2.43. 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.
Mizuho have made an estimate for Fortinet Inc shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on October 17, 2024. The new note on the price target was released on August 08, 2024, representing the official price target for Fortinet Inc stock. Previously, the target price had yet another raise to $59, while HSBC Securities analysts kept a Hold rating on FTNT stock.
The Average True Range (ATR) for Fortinet Inc is set at 1.64, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 10.76. The Price to Book ratio for the last quarter was 206.61, with the Price to Cash per share for the same quarter was set at 4.37. Price to Free Cash Flow for FTNT in the course of the last twelve months was 37.88 with Quick ratio for the last quarter at 1.22.
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 -1.83. With this latest performance, FTNT shares gained by 0.57% in over the last four-week period, additionally plugging by 31.11% over the last 6 months – not to mention a rise of 54.36% 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 42.72, with the RSI for the last a single of trading hit 33.27, and the three-weeks RSI is set at 48.90 for Fortinet Inc [FTNT]. The present Moving Average for the last 50 days of trading for this stock 78.16, while it was recorded at 78.59 for the last single week of trading, and 67.91 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 1.22 and a Current Ratio set at 1.32.
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 14.38%.
Fortinet Inc [FTNT]: Institutional Ownership
There are presently around $70.39%, or 85.32%% of FTNT stock, in the hands of institutional investors. The top three institutional holders of FTNT stocks are: VANGUARD GROUP INC with ownership of 66.87 million shares, which is approximately 8.7709%. BLACKROCK INC., holding 55.24 million shares of the stock with an approximate value of $$3.33 billion in FTNT stocks shares; and BLACKROCK INC., currently with $$1.75 billion in FTNT stock with ownership which is approximately 3.8024%.
