Fortinet Stock Rises Thursday, But Underperforms Market
June 19, 2023
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Fortinet ($NASDAQ:FTNT) Inc. is a publicly-traded global provider of network security products and services. On Thursday, Fortinet’s stock rose 0.45% to close at $68.64, compared to the broader market’s positive trading session. Despite the overall positive market, Fortinet Inc.’s stock underperformed, lagging the market’s performance. This uptrend is largely attributed to the company’s strong financial performance during the pandemic. The company’s recent stock movements could be attributed to the general market sentiment in the face of rising inflation fears.
Despite the market pressures, investors appear to remain optimistic about Fortinet’s long-term growth prospects. There have been several positive analyst updates recently, with analysts at JPMorgan and Goldman Sachs initiating coverage on the stock with ‘Buy’ ratings. This optimism could help push the stock higher in the near future.
Share Price
On Thursday, Fortinet Inc.’s stock rose, but underperformed the market. The stock opened at $68.6 and closed at $68.1, a decrease of 0.7% from their previous closing price. Despite the drop, the stock was still up from where it started the day. The performance was indicative of a larger trend in the market, as investors were wary of any major changes.
While the stock had a decent performance on Thursday, it was not enough to move the needle in comparison to the larger market trends. Ultimately, Fortinet Inc. stock still saw a modest increase in its value on Thursday, despite underperforming its peers in the market. It remains to be seen if this trend will continue in the coming weeks. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fortinet. More…
| Total Revenues | Net Income | Net Margin |
| 4.72k | 966.6 | 20.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fortinet. More…
| Operations | Investing | Financing |
| 2.01k | 766.9 | -1.4k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fortinet. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.83k | 6.82k | 0.01 |
Key Ratios Snapshot
Some of the financial key ratios for Fortinet are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.9% | 42.9% | 23.8% |
| FCF Margin | ROE | ROA |
| 38.6% | -521.1% | 10.3% |
Analysis
At GoodWhale, we have conducted an analysis of FORTINET‘s financials. Our risk rating has determined that FORTINET is a medium risk investment in terms of both financial and business aspects. We have identified three risk warnings in the balance sheet, cash flow statement, and financial journal. By registering with us, you can gain access to further information on these risk warnings. This will enable you to make an informed decision about investing in FORTINET. Our expertise in financial analysis can help to ensure that your investments are as safe as possible. Don’t miss out on this opportunity– register with us today! More…
Peers
There is fierce competition among Fortinet Inc and its competitors: SecureWorks Corp, DBAPPSecurity Co Ltd, Mandiant Inc. All four companies offer products and services that help organizations secure their networks and data from cyber threats. Fortinet Inc has a strong market share in the network security space, but its competitors are gaining ground. Each company has its own strengths and weaknesses, and it is up to the customer to decide which one is the best fit for their needs.
– SecureWorks Corp ($NASDAQ:SCWX)
SecureWorks Corp is a publicly traded company with a market capitalization of 687.41 million as of 2022. The company has a return on equity of -9.05%. SecureWorks Corp is a provider of cybersecurity solutions and services. The company’s solutions and services are designed to help organizations protect their data and defend against cyber threats.
– DBAPPSecurity Co Ltd ($SHSE:688023)
DBApps Security Co Ltd has a market cap of 13.74B as of 2022, a Return on Equity of -5.12%. DBApps Security Co Ltd is a provider of online security solutions. The company offers a range of products and services including online security, anti-virus protection and online privacy protection.
Summary
Fortinet Inc. stock rose slightly on Thursday, outperforming the market. The stock traded at $68.64, an increase of 0.45% on the day. Trading activity was positive overall for the stock market, and investors are cautiously optimistic about Fortinet’s potential. Analysts note that the stock may be undervalued, making it a good buy in the short-term and long-term for those looking to invest in the tech sector.
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