Fortinet stock: buy or sell

FTNT stock price: $201.92 -0.43% At close on Apr 21st, 2021

Updated on:
Apr 22nd, 2021

2

Fortinet stock brief

  • After making new all-time highs last Friday, Fortinet closed at $201.92 slightly changing a -0.43%
  • Price is drawing a scaled uptrend since October 2020 with higher tops and higher bottoms. This rally marked a 89.15% gain
  • Monness Crespi & Hardt published a strong buy rating for Fortinet on Wednesday, forecasting $225.00
  • Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Should I buy Fortinet stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is $FTNT stock a buy?

In the current situation of Fortinet there is not any eligible buy setup. This doesn't mean $FTNT will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

Should I sell Fortinet stock?

When you are a novel trader and you own a stock with some profit, it's really difficult to decide the good moment to sell and get your benefits. Just as when we have to buy shares, determining when is the best time to sell is not a capricious decision, and we must follow our own trading style. When selling, as well as buying, our setups are very easy to use and are only applicable for selling shares you already own, not for selling short Fortinet stock

As a golden rule, you should never mantain a trade that shows a losses greater than those expected by the time of the buy. The timing to sell shares must always be determined by the stop-loss (automatic or manual)

Is it time to sell Fortinet stock?

Currently, Fortinet stock doesn't match any of our preferred sell setups, so if you hold Fortinet stock and your operation is in profit probably is not time to sell now

Fortinet ratings

In the last month, 2 analyst ratings were published for Fortinet

Fortinet analysts' ratings - Last 30 days
Brokerage firmRating
Apr 16th, 2021
Barclays
Apr 21st, 2021
Monness Crespi & Hardt Strong buy

Fortinet stock analysis

Since in October 2020, Fortinet has been drawing an uptrend that by now marked an amazing 89.15%. The price shows higher highs and higher lows, and along the way provided some entry points for those who wanted to enter. Latest pullback was in late March, when price bounced at $167.08. Like in all uptrends, price needs to rest and now price is consolidating the gains in a range between $209.39 and $167.08

$FTNT at Highs

Last Friday, Fortinet marked new all-time highs (ATH) again at $209.39. It's the fifth time in the last 10 sessions, marking an important rally

SMAs overview

FTNT stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $209.39 (3.70% above)
  • The current support levels are:

  • S1: $193.84 (-4.00% below)
  • S2: $174.79 (-13.44% below)
  • S3: $167.08 (-17.25% below)
  • Bollinger bands

    Since the price surpassed the upper band on April 15, the price dropped by 2.05%

    FTNT stock Bollinger Bands chart

    Relative strength index

    The RSI dropped below the overbought level of 70 on Tuesday after just crossing to the overbough zone for a single day (weak signal). The RSI reading on Wednesday was 65.18

    FTNT stock RSI chart

    Fortinet stock price history

    Fortinet IPO was on Nov 18th, 2009 priced at $8.50 per share1. Since then, FTNT stock surged by 2,275.53%, with an average of 206.87% per year. An investment of thousand dollars on the IPO would worth $23,755.29 nowadays.

    1: Adjusted price after possible price splits or reverse-splits

    FTNT stock price history chart

    Price target for Fortinet stock

    How much a stock will be priced tomorrow or next week is quite unpredictable. Banks and financial organisations issue their analysis predicting how a stock will performance in the future.

    Along with buy or sell recommendations, brokerage institutions post their price target based on the stock price action and the company fundamental data. Most of these predictions follow the publication of new fundamental data by the company, and many times. If you are a small investor you should not buy or sell based on these price targets.

    Averaging all price targets exposed below, the estimated price for Fortinet stock is $217.50. Fortinet closed at $201.92 on Wednesday, so the target price is expecting an increase by 7.72%.

    Fortinet stock price predictions
    Brokerage firmPrice target
    Apr 16th, 2021
    Barclays $202.00$210.00
    Apr 21st, 2021
    Monness Crespi & Hardt $195.00$225.00

    Earnings and financials

    Last February, Fortinet, Inc. ($FTNT) posted EPS for that slightly improved Market expectations. Quarterly EPS was $1.06 per share compared to the forecasted $0.97. This quarterly report means an earnings surprise of 9.28%. Estimated revenue for Q4 was $722.4 million but Fortinet slightly beat by 3.55%, reporting $748.0 million.

    For comparison, the EPS for the same quarter last year was $0.76, so current EPS means a improvement of 39.47%. Looking at sales, figures exploded a 21.74% compared to $6.1B same quarter last year.

    Fortinet ($FTNT) is hosting the quarterly earnings call next Wednesday. Wall Street predicts of $0.74, compared to Q4 that made $1.06.

    Fortinet performance

    FTNT performance compared
    Company1m3m6m
    Fortinet ($FTNT) 13.30% 33.40% 51.80%

    Important:
    The viewpoints given in this post are personal and should not be followed as recommendations for you to buy or sell shares. The author of this report does not know the particular positions of the reader, his or her own finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are published for informational reasons only

    Fortinet summary

    Wednesday, April 21st, 2021
    Open$202.76
    Close$201.92
    Day range$200.76 - $204.11
    Previous close$202.8
    Session gain-0.43%
    Average true range$5.96
    50d mov avg$180.20
    100d mov avg$160.93
    200d mov avg$143.17
    Earnings dateMay 5th, 2021

    Frequently asked questions

    What is Fortinet stock symbol?

    Fortinet, Inc. is a public company trading in the US stock market with the FTNT symbol

    Is Fortinet stock a buy or sell?

    Fortinet received 2 ratings in the last 30 days: 1 bullish, 0 bearish and 0 neutral.

    Will FTNT go up?

    Fortinet had different price predictions posted by analysts in the last 30 days forecasting the target price to $217.50. That is a 7.72% than the last price ($201.92).