Fortinet Inc (FTNT): Choosing The Technical Investor Route

Fortinet Inc (NASDAQ:FTNT) does about 5.16M shares in volume on a normal day but saw 3461997 shares change hands in Monday trading. The company now has a market cap of 45.91B USD. Its current market price is $60.09, marking an increase of 0.62% compared to the previous close of $59.72. The 52 week high reached by this stock is $81.24 whilst the lowest price level in 52 weeks is $44.12.

Fortinet Inc (FTNT) has a 20-day trading average at $60.20 and the current price is -26.03% off the 52-week high compared with 36.20% distance from its 52-week low. The 50-day simple moving average of the closing price is $62.88 and its 200-day simple moving average is $61.31. If we look at the stock’s price movements over the week, volatility stands at 1.94%, which increases to 2.27% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 46.75 to suggest the stock is neutral.

The consensus objective for the share price is $71.16, suggesting that the stock has a potential upside of 15.56% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on February 13, 2024 when Daiwa Securities upgraded the stock to “Outperform” and issued a price target of $75. HSBC Securities downgraded its price target at $57.

Fortinet Inc (FTNT) stock is up 2.19% over the week and 3.41% over the past month. Its price is 2.67% year-to-date and -12.91% over the past year.

To reach the target analysts have set, the stock logically needs to grow 15.56 percent from here.

The company has a return on investment of 140.23% and return on equity of 843.82%. The price to earnings ratio (P/E ratio) amounts to 39.18 while the forward price to earnings ratio is 30.61. The beta has a value of 0.98. Price to sales ratio is 8.51.