FORTINET, INC.

FTNT
Delayed Quote. Delayed  - 01/15 04:00:00 pm
146.53USD -0.68%

Fortinet, Inc. : Buyers are coming back

Patrick Rejaunier
Senior Analyst

Strategy published on : 01/14/2020 | 08:48

long trade on a pullback
Conditional Order Terminated

Entry price : 112$
Target : 122$
Stop-loss : 109.53$
Cancellation Level : 120$
Potential : 8.93%

Fortinet, Inc. shares have been in strong demand lately. The technical chart pattern looks positive which may give rise to new gains.
Investors should buy the stock at current prices near $ 112 in order to target the $ 122.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● The company has solid fundamentals for a short-term investment strategy.


Strengths

● According to sales estimates from analysts polled by Standard & Poor's, the company is among the best with regard to growth.

● The company returns high margins, thereby supporting business profitability.

● Thanks to a sound financial situation, the firm has significant leeway for investment.

● The group usually releases upbeat results with huge surprise rates.

● Upward revisions of sales forecast reflect a renewed optimism among the analysts covering the stock.

● Over the past year, analysts have regularly revised upwards their sales forecast for the company.

● For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.

● For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.

● The stock is in a well-established, long-term rising trend above the technical support level at 93.02 USD


Weaknesses

● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.

● The company's "enterprise value to sales" ratio is among the highest in the world.

● The company's valuation in terms of earnings multiples is rather high. Indeed, the firm is getting paid 67.86 times its estimated earnings per share for the ongoing year.

● The three month average target prices set by analysts do not offer high potential in comparison with the current prices.

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