Fortinet Stock Technical Analysis
FTNT Stock | USD 63.40 0.63 0.98% |
As of the 20th of April, Fortinet shows the Mean Deviation of 1.57, downside deviation of 1.89, and Coefficient Of Variation of 2262.48. Fortinet technical analysis allows you to utilize historical prices and volume patterns in order to determine a pattern that computes the direction of the firm's future prices. Put another way, you can use this information to find out if the firm will indeed mirror its model of historical prices and volume momentum, or the prices will eventually revert. We were able to interpolate nineteen technical drivers for Fortinet, which can be compared to its peers. Please confirm Fortinet variance and potential upside to decide if Fortinet is priced favorably, providing market reflects its regular price of 63.4 per share. Given that Fortinet has jensen alpha of (0.04), we urge you to verify Fortinet's prevailing market performance to make sure the company can sustain itself at a future point.
Fortinet Momentum Analysis
Momentum indicators are widely used technical indicators which help to measure the pace at which the price of specific equity, such as Fortinet, fluctuates. Many momentum indicators also complement each other and can be helpful when the market is rising or falling as compared to FortinetFortinet |
Fortinet Analyst Consensus
Target Price | Advice | # of Analysts | |
72.41 | Buy | 42 | Odds |
Most Fortinet analysts issue ratings four times a year, at intervals of three months. Ratings are usually accompanied by a target price to helps potential investors understand Fortinet stock's fair price compared to its market value. Analysts arrive at stock ratings after researching public financial statements of Fortinet, talking to its executives and customers, or listening to Fortinet conference calls.
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.
Fortinet Technical Analysis
The output start index for this execution was one with a total number of output elements of sixty. The Average True Range was developed by J. Welles Wilder in 1970s. It is one of components of the Welles Wilder Directional Movement indicators. The ATR is a measure of Fortinet volatility. High ATR values indicate high volatility, and low values indicate low volatility.
Fortinet Trend Analysis
Use this graph to draw trend lines for Fortinet. You can use it to identify possible trend reversals for Fortinet as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Fortinet price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.Fortinet Best Fit Change Line
The following chart estimates an ordinary least squares regression model for Fortinet applied against its price change over selected period. The best fit line has a slop of 0.02 , which may suggest that Fortinet market price will keep on failing further. It has 122 observation points and a regression sum of squares at 13.31, which is the sum of squared deviations for the predicted Fortinet price change compared to its average price change.About Fortinet Technical Analysis
The technical analysis module can be used to analyzes prices, returns, volume, basic money flow, and other market information and help investors to determine the real value of Fortinet on a daily or weekly bases. We use both bottom-up as well as top-down valuation methodologies to arrive at the intrinsic value of Fortinet based on its technical analysis. In general, a bottom-up approach, as applied to this company, focuses on Fortinet price pattern first instead of the macroeconomic environment surrounding Fortinet. By analyzing Fortinet's financials, daily price indicators, and related drivers such as dividends, momentum ratios, and various types of growth rates, we attempt to find the most accurate representation of Fortinet's intrinsic value. As compared to a bottom-up approach, our top-down model examines the macroeconomic factors that affect the industry/economy before zooming in to Fortinet specific price patterns or momentum indicators. Please read more on our technical analysis page.
2023 | 2024 (projected) | Dividend Yield | 0.0152 | 0.0135 | Price To Sales Ratio | 8.59 | 5.5 |
Fortinet April 20, 2024 Technical Indicators
Most technical analysis of Fortinet help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Fortinet from various momentum indicators to cycle indicators. When you analyze Fortinet charts, please remember that the event formation may indicate an entry point for a short seller, and look at different other indicators across different periods to confirm that a breakdown or reversion is likely to occur.
Cycle Indicators | ||
Math Operators | ||
Math Transform | ||
Momentum Indicators | ||
Overlap Studies | ||
Pattern Recognition | ||
Price Transform | ||
Statistic Functions | ||
Volatility Indicators | ||
Volume Indicators |
Risk Adjusted Performance | 0.0339 | |||
Market Risk Adjusted Performance | 0.0591 | |||
Mean Deviation | 1.57 | |||
Semi Deviation | 1.83 | |||
Downside Deviation | 1.89 | |||
Coefficient Of Variation | 2262.48 | |||
Standard Deviation | 1.97 | |||
Variance | 3.88 | |||
Information Ratio | 9.0E-4 | |||
Jensen Alpha | (0.04) | |||
Total Risk Alpha | (0.17) | |||
Sortino Ratio | 9.0E-4 | |||
Treynor Ratio | 0.0491 | |||
Maximum Drawdown | 7.6 | |||
Value At Risk | (3.29) | |||
Potential Upside | 3.3 | |||
Downside Variance | 3.56 | |||
Semi Variance | 3.36 | |||
Expected Short fall | (1.76) | |||
Skewness | (0.04) | |||
Kurtosis | (0.65) |
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fortinet. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. For more information on how to buy Fortinet Stock please use our How to Invest in Fortinet guide.You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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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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.