Fortinet Inc (NASDAQ:FTNT) shares, rose in value on Friday, August 09, with the stock price up by 1.04% to the previous day’s close as strong demand from buyers drove the stock to $69.39.
Actively observing the price movement in the last trading, the stock closed the session at $68.68. The PE ratio was 41.00 over 12-month period. Referring to stock’s 52-week performance, its high was $73.91, and the low was $44.12. On the whole, FTNT has fluctuated by 18.04% over the past month.
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Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.85B, with a low estimate of 1.44B and a high estimate of 1.5B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.48B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that FTNT’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 3.83, with the price of FTNT currently trading nearly 17.77% and 16.95% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 73.45, while the 7-day volatility ratio is showing 4.56% which for the 30-day chart, stands at 3.00%. Furthermore, Fortinet Inc (FTNT)’s beta value is 0.92, and its average true range (ATR) is 2.51.
A comparison of Fortinet Inc (FTNT) with its peers suggests the former has fared considerably weaker in the market. FTNT showed an intraday change of 1.04% in last session, and over the past year, it grew by 16.08%%.
Data on historical trading for Fortinet Inc (NASDAQ:FTNT) indicates that the trading volumes over the past 3 months, they’ve averaged 5.56 million. According to company’s latest data on outstanding shares, there are 761.00 million shares outstanding.
Nearly 17.55% of Fortinet Inc’s shares belong to company insiders and institutional investors own 68.20% of the company’s shares. The stock has risen by 18.56% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the FTNT stock heading into the next quarter.
