Fortinet Stock Market Value
| FTNT Stock | USD 64.03 0.63 0.97% |
| Symbol | Fortinet |
Fortinet Price To Book Ratio
Is Fortinet's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Fortinet. If investors know Fortinet will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Fortinet listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.035 | Earnings Share 1.46 | Revenue Per Share 6.813 | Quarterly Revenue Growth 0.103 | Return On Assets 0.1146 |
The market value of Fortinet is measured differently than its book value, which is the value of Fortinet that is recorded on the company's balance sheet. Investors also form their own opinion of Fortinet's value that differs from its market value or its book value, called intrinsic value, which is Fortinet's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Fortinet's market value can be influenced by many factors that don't directly affect Fortinet's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Fortinet's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fortinet is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fortinet's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Fortinet 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Fortinet's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Fortinet.
| 03/19/2024 |
| 04/18/2024 |
If you would invest 0.00 in Fortinet on March 19, 2024 and sell it all today you would earn a total of 0.00 from holding Fortinet or generate 0.0% return on investment in Fortinet over 30 days. Fortinet is related to or competes with Zscaler, Cloudflare, Okta, Adobe Systems, Uipath, Nutanix, and Crowdstrike Holdings. Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle Eas... More
Fortinet Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Fortinet's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Fortinet upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.91 | |||
| Information Ratio | 0.0085 | |||
| Maximum Drawdown | 7.6 | |||
| Value At Risk | (3.29) | |||
| Potential Upside | 3.3 |
Fortinet Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fortinet's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fortinet's standard deviation. In reality, there are many statistical measures that can use Fortinet historical prices to predict the future Fortinet's volatility.| Risk Adjusted Performance | 0.0298 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | 0.0088 | |||
| Treynor Ratio | 0.0393 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fortinet's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Fortinet Backtested Returns
We consider Fortinet very steady. Fortinet secures Sharpe Ratio (or Efficiency) of 0.0496, which denotes the company had a 0.0496% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Fortinet, which you can use to evaluate the volatility of the firm. Please confirm Fortinet's Downside Deviation of 1.91, coefficient of variation of 2743.04, and Mean Deviation of 1.59 to check if the risk estimate we provide is consistent with the expected return of 0.0993%. Fortinet has a performance score of 3 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.58, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Fortinet will likely underperform. Fortinet right now shows a risk of 2.0%. Please confirm Fortinet potential upside, as well as the relationship between the accumulation distribution and period momentum indicator , to decide if Fortinet will be following its price patterns.
Auto-correlation | -0.47 |
Modest reverse predictability
Fortinet has modest reverse predictability. Overlapping area represents the amount of predictability between Fortinet time series from 19th of March 2024 to 3rd of April 2024 and 3rd of April 2024 to 18th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Fortinet price movement. The serial correlation of -0.47 indicates that about 47.0% of current Fortinet price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.47 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 5.18 |
Fortinet lagged returns against current returns
Autocorrelation, which is Fortinet stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Fortinet's stock expected returns. We can calculate the autocorrelation of Fortinet returns to help us make a trade decision. For example, suppose you find that Fortinet has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Fortinet regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Fortinet stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fortinet stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fortinet stock over time.
Current vs Lagged Prices |
| Timeline |
Fortinet Lagged Returns
When evaluating Fortinet's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fortinet stock have on its future price. Fortinet autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Fortinet autocorrelation shows the relationship between Fortinet stock current value and its past values and can show if there is a momentum factor associated with investing in Fortinet.
Regressed Prices |
| Timeline |
Fortinet Investors Sentiment
The influence of Fortinet's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Fortinet. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Fortinet's public news can be used to forecast risks associated with an investment in Fortinet. The trend in average sentiment can be used to explain how an investor holding Fortinet can time the market purely based on public headlines and social activities around Fortinet. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Fortinet's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Fortinet's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Fortinet's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Fortinet.
Fortinet Implied Volatility | 94.91 |
Fortinet's implied volatility exposes the market's sentiment of Fortinet stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Fortinet's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Fortinet stock will not fluctuate a lot when Fortinet's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Fortinet in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Fortinet's short interest history, or implied volatility extrapolated from Fortinet options trading.
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Try AI Portfolio ArchitectCheck out Fortinet Correlation, Fortinet Volatility and Fortinet Alpha and Beta module to complement your research on Fortinet. For more information on how to buy Fortinet Stock please use our How to Invest in Fortinet guide.You can also try the Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Complementary Tools for Fortinet Stock analysis
When running Fortinet's price analysis, check to measure Fortinet's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Fortinet is operating at the current time. Most of Fortinet's value examination focuses on studying past and present price action to predict the probability of Fortinet's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fortinet's price. Additionally, you may evaluate how the addition of Fortinet to your portfolios can decrease your overall portfolio volatility.
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Fortinet technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.