AI Trading NASDAQ Fri, 24 Nov

Dear Reader,

Our featured asset today is FTNT: Fortinet Inc. According to our AI strategy, trading between 2021-12-29 to 2021-12-29 could potentially yield a 147.15% return. On average, traders held a long position for 331 days, with a total of 1.0 positions taken over the period. The trading idea suggests FTNT is a STRONGBUY since 2021-11-22 with a buy price target of 51.55, as the model has a 0.7 accuracy rate predicting an upward trend in the following 2 weeks. The analyst consensus price target is 68.5.

Company Overview
Fortinet Inc (Nasdaq: FTNT) is a leading provider of cybersecurity solutions and services. The company was founded in 2000 and is headquartered in Sunnyvale, California. Fortinet offers a comprehensive suite of products and services, including physical products such as firewalls, plus software and services such as anti-virus protection, intrusion prevention systems and endpoint security components.

Fortinet has over 40,000 customers across the globe and is a leader in the cybersecurity industry. The company has been consistently ranked as one of the top security vendors in the world, and its products are used by organizations in various industries, including finance, healthcare, government, and education.

Fortinet’s solutions are designed to protect customers from cyber threats and enable them to take advantage of digital transformation. The company also provides managed security services to help customers monitor their networks and respond quickly to threats.

Historic Company Performance
Fortinet has consistently delivered strong financial performance over the years. In 2020, the company reported revenue of $1.98 billion, a year-over-year increase of 8.8%. The company’s net income for the year was $235.6 million, up from $151.9 million in 2019.

Fortinet’s total assets for 2020 were $2.9 billion, up from $2.4 billion in 2019. The company’s cash and cash equivalents at the end of 2020 stood at $822.3 million, a year-over-year increase of 7.3%.

Share Price Performance
Fortinet’s share price has seen a significant increase over the past year, from a low of $42.61 on November 22, 2020 to its current price of $51.55. This represents an increase of 20.6% over the past 12 months.

The company’s market capitalization is currently $46.5 billion, and its price-to-earnings ratio is 54.69. The company’s dividend yield is 0%, and its price-to-sales ratio is 9.95. Fortinet’s beta is 1.134, and its 200-day moving average is currently at $53.73.

Conclusion
Fortinet Inc (Nasdaq: FTNT) is a leading provider of cybersecurity solutions and services. The company has seen strong financial performance over the years, and its share price has increased significantly since November 2020. The company has a market capitalization of $46.5 billion, and its price-to-earnings ratio is 54.69. Investors looking for exposure to the cybersecurity industry may find Fortinet to be an attractive option.

Symbol: FTNT
AssetType: Common Stock
Name: Fortinet Inc
Description: Fortinet (Nasdaq: FTNT) is an American multinational corporation headquartered in Sunnyvale, California. It develops and sells cybersecurity solutions, including but not limited to physical products such as firewalls, plus software and services such as anti-virus protection, intrusion prevention systems and endpoint security components.
CIK: 1262039
Exchange: NASDAQ
Currency: USD
Country: USA
Sector: TECHNOLOGY
Industry: COMPUTER PERIPHERAL EQUIPMENT, NEC
Address: 899 KIFER ROAD, SUNNYVALE, CA, US
FiscalYearEnd: December
LatestQuarter: 2022-12-31
MarketCapitalization: 46569476000
EBITDA: 924400000
PERatio: 54.69
PEGRatio: 1.986
BookValue: -0.814
DividendPerShare: 0
DividendYield: 0
EPS: 1.09
RevenuePerShareTTM: 5.12
ProfitMargin: 0.181
OperatingMarginTTM: 0.201
ReturnOnAssetsTTM: 0.0909
ReturnOnEquityTTM: 2.892
RevenueTTM: 4098000000
GrossProfitTTM: 2559200000
DilutedEPSTTM: 1.09
QuarterlyEarningsGrowthYOY: 0.68
QuarterlyRevenueGrowthYOY: 0.331
AnalystTargetPrice: 68.5
TrailingPE: 54.69
ForwardPE: 39.37
PriceToSalesRatioTTM: 9.95
PriceToBookRatio: 231.83
EVToRevenue: 10.17
EVToEBITDA: 45.53
Beta: 1.134
52WeekHigh: 71.52
52WeekLow: 42.61
50DayMovingAverage: 51.39
200DayMovingAverage: 53.73
SharesOutstanding: 781236000
DividendDate: None
ExDividendDate: None

Date Symbol Prediction Model Accuracy Price Target Analyst Target
2023-11-22 FTNT STRONGBUY 0.7 51.55 68.5
2023-11-16 FTNT MEDIUMBUY 0.7 53.12 68.5

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The Third Perspective Team