Fortinet Inc (NASDAQ:FTNT) shares, rose in value on Thursday, April 25, with the stock price down by -3.17% to the previous day’s close as strong demand from buyers drove the stock to $63.38.
Actively observing the price movement in the recent trading, the stock is buoying the session at $65.45. The PE ratio was 43.48 over 12-month period. Referring to stock’s 52-week performance, its high was $81.24, and the low was $44.12. On the whole, FTNT has fluctuated by -6.04% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.78B, with a low estimate of 1.33B and a high estimate of 1.36B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.34B.
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 Hold on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.97, with the price of FTNT currently trading nearly -5.29% and -7.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.77, while the 7-day volatility ratio is showing 2.18% which for the 30-day chart, stands at 2.82%. Furthermore, Fortinet Inc (FTNT)’s beta value is 1.08, and its average true range (ATR) is 1.85.
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 -3.17% in today’s session so far, and over the past year, it grew by 0.32%%.
Data on historical trading for Fortinet Inc (NASDAQ:FTNT) indicates that the trading volumes over the past 3 months, they’ve averaged 5.67 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 66.62% of the company’s shares. The stock has risen by 8.28% 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.
