Fortinet Inc. (NASDAQ:FTNT) stock went on a downward path that fall over -0.27% on Tuesday, amounting to a one-week price increase of more than 13.49%. Over the last 12 months, FTNT stock rose by 26.30%. The one-year FTNT stock forecast points to a potential downside of -0.03, with the average price target set at $97.67 per share. The average equity rating for FTNT stock is currently 2.50, trading closer to a bullish pattern in the stock market.
The market cap for FTNT stock reached $14.18 billion, with 154.73 million shares outstanding and 144.06 million shares in the current float. Compared to the average trading volume of 1.34M shares, FTNT reached a trading volume of 1998426 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 $94.52 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 2.50. 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.
MonnessCrespi&Hardt have made an estimate for Fortinet Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 01, 2019. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $100 to $104. The new note on the price target was released on November 01, 2019, representing the official price target for Fortinet Inc. stock. On August 02, 2019, analysts increased their price target for FTNT shares from 97 to 102.
The Average True Range (ATR) for Fortinet Inc. is set at 2.56, with the Price to Sales ratio for FTNT stock in the period of the last 12 months amounting to 7.25. The Price to Book ratio for the last quarter was 13.07, with the Price to Cash per share for the same quarter was set at 12.54. Price to Free Cash Flow for FTNT in the course of the last twelve months was 19.13 with Quick ratio for the last quarter at 1.80.
FTNT Stock Performance Analysis:
Fortinet Inc. (FTNT) gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.49. With this latest performance, FTNT shares gained by 17.77% in over the last four-week period, additionally plugging by 12.24% over the last 6 months – not to mention a rise of 26.30% 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 77.10, with the RSI for the last a single of trading hit 82.13, and the three-weeks RSI is set at 71.12 for Fortinet Inc. (FTNT). The present Moving Average for the last 50 days of trading for this stock 79.42, while it was recorded at 87.57 for the last single week of trading, and 81.61 for the last 200 days.
Insight into Fortinet Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Fortinet Inc. (FTNT) shares currently have an operating margin of +12.82 and a Gross Margin at +69.80. Fortinet Inc.’s Net Margin is presently recorded at +18.44.
Return on Total Capital for FTNT is now 28.88, given the latest momentum, and Return on Invested Capital for the company is 41.54. Return on Equity for this stock inclined to 41.54, with Return on Assets sitting at 12.45.
Reflecting on the efficiency of the workforce at the company, Fortinet Inc. (FTNT) managed to generate an average of $56,835 per employee. Receivables Turnover for the company is 4.54 with a Total Asset Turnover recorded at a value of 0.68. Fortinet Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.
FTNT Stock EPS
With the latest financial reports released by the company, Fortinet Inc. posted 0.59/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.50%. 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 18.43%.
Fortinet Inc. (FTNT) Insider Position Details
There are presently around $11,269 million, or 73.50% of FTNT stock, in the hands of institutional investors. The top three institutional holders of FTNT stocks are: VANGUARD GROUP INC with ownership of 17,227,321, which is approximately -0.02% of the company’s market cap and around 11.10% of the total institutional ownership; BLACKROCK INC., holding 10,800,444 shares of the stock with an approximate value of $992.0 million in FTNT stocks shares; and STATE STREET CORP, currently with $539.0 million in FTNT stock with ownership of nearly 0.453% of the company’s market capitalization.
Positions in Fortinet Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 255 institutional holders increased their position in Fortinet Inc. (NASDAQ:FTNT) by around 10,431,989 shares. Additionally, 291 investors decreased positions by around 14,483,514 shares, while 71 investors held positions by with 97,715,130 shares. The mentioned changes placed institutional holdings at 122,630,633 shares, according to the latest SEC report filing. FTNT stock had 61 new institutional investments in for a total of 1,172,598 shares, while 60 institutional investors sold positions of 2,078,325 shares during the same period.