Fortinet Inc. FTNT Stock Analysis

Fortinet Inc. stock is a cyber security & software company that has shown recent bullish behavior in the market.

Trading under the ticker FTNT, Fortinet Inc. closed at $309.62/share on 10/7/2021.

Fortinet Inc. FTNT Stock’s Technicals Broken Down

Fortinet Inc. FTNT Stock Technical Performance For The Last Year

FTNT Stock Price: $309.62

10 Day Moving-Average: $297.80

50 Day Moving-Average: $301.80

200 Day Moving-Average: $222.48

RSI: 56.6

MACD: -0.33

Yesterday, FTNT stock completed a bullish MACD crossover, while also breaking above its 10 & 50 Day Moving Averages.

FTNT has additional upside momentum that comes from the 10 Day MA being ~2% below the 50 Day MA, still moving upwards.

With an RSI in the mid 50’s, there is still plenty of room to run, while establishing a new price range for Fortinet Inc.’s stock.

FTNT’s volume has been higher than average for the year over the last 3-4 weeks as well, which adds an additional sign of strength to come.

FTNT now tests the $310.49 level, before going to to try to break out beyond $321.90-322.

Fortinet Inc. FTNT Stock As A Long-Term Investment

Investors may be very interested in FTNT’s balance sheet, where they have Total Cash (mrq) of $3.11B & Total Debt (mrq) of $1.05B.

They also have a ~72% % Institutional Ownership, which some investors take as a sign of strength.

FTNT’s P/E (ttm) is 96.61, with a P/B of 46.42.

Fortinet Inc.’s beta is 1.14, meaning that they are slightly more volatile than the broader market, but tend to move in-line with other stocks.

FTNT stock has 29.7% Quarterly Revenue Growth Y-o-Y, another bullish signal to long-term oriented investors.

Fortinet Inc. FTNT Stock As A Short-Term Trade Opportunity Using Options

Fortinet Inc. stock offers options that traders can use to ward off broader market volatility’s impact on their trade.

I am looking at the contracts that expire on 10/15.

The $310 & $300 calls look appealing being already in-the-money, with the $320’s looking interesting at the following expiration date (11/19).

For puts, the $320 & $330’s look good, although relatively illiquid with a low Open Interest, another sign of near-term bullish sentiment for FTNT stock.

Tying It All Together

All-in-all, there are many advantages in the near & long-terms that traders & investors can take advantage of with FTNT stock.

Fortinet’s balance sheet looks appealing for a software company, along with their quarterly growth numbers.

In the near-term, they have bullish technical signals pushing them higher on momentum, and their options also signal bullish sentiment with the ratio of open interest on in-the-money calls vs. puts.

Traders & investors alike should take a closer look at FTNT stock to see if it fits their system & risk appetite.


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