Fortinet Inc [NASDAQ: FTNT] gained 3.57% or 3.32 points to close at $96.44 with a heavy trading volume of 4693210 shares.
The daily chart for FTNT points out that the company has recorded 61.46% gains over the past six months.
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If we look at the average trading volume of 4.63M shares, FTNT reached to a volume of 4693210 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $96.87 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 2.40. 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.
BMO Capital Markets have made an estimate for Fortinet Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on November 19, 2024. While these analysts kept the previous recommendation, HSBC Securities dropped their target price from $83 to $111. The new note on the price target was released on November 11, 2024, representing the official price target for Fortinet Inc stock. Previously, the target price had yet another raise to $68, while Mizuho analysts kept a Underperform rating on FTNT stock.
The Average True Range (ATR) for Fortinet Inc is set at 2.75, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 12.94. The Price to Book ratio for the last quarter was 81.32, with the Price to Cash per share for the same quarter was set at 4.83. Price to Free Cash Flow for FTNT in the course of the last twelve months was 44.42 with Quick ratio for the last quarter at 1.25.
Trading performance analysis for FTNT stock
Fortinet Inc [FTNT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.22. With this latest performance, FTNT shares gained by 19.42% in over the last four-week period, additionally plugging by 61.46% over the last 6 months – not to mention a rise of 79.46% 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 67.62, with the RSI for the last a single of trading hit 68.31, and the three-weeks RSI is set at 67.22 for Fortinet Inc [FTNT]. The present Moving Average for the last 50 days of trading for this stock 83.20, while it was recorded at 93.76 for the last single week of trading, and 69.84 for the last 200 days.
Fortinet Inc [FTNT]: A deeper dive into fundamental analysis
Fortinet Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.25 and a Current Ratio set at 1.34.
Fortinet Inc [FTNT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Fortinet Inc posted 0.51/share EPS, while the average EPS was predicted by analysts to be reported at 0.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.08. 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 17.59%.
An analysis of Institutional ownership at Fortinet Inc [FTNT]
There are presently around $69.62%, or 84.37%% 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%.
